Macroeconomic Theory and Policy

ECN400 Macroeconomic Theory and Policy

Spring 2020

  • Topics

    Real macroeconomics

    • Economic growth
    • Consumption and savings
    • Investment
    • Government spending and fiscal policy
    • Economic Fluctuations and Stabilization Policy
    • Aggregate demand
    • Inflation, unemployment and aggregate supply
    • Stabilization policy, monetary policy


    Topics in macroeconomic

    • Open economy
    • Financial crises
    • Labour Markets

  • Learning outcome

    After completing this course, students will have


    • an in-depth, up-to-date knowledge of relevant theories and empirics on major topics in modern macroeconomic theory and policy;


    • an understanding and ability to analyse macroeconomic questions with the help of modern macroeconomic models;
    • learned how to collect and analyze macroeconomic data to evaluate predictions by theoretical models and understand the policy implications.


    • the ability to communicate key theoretical and empirical insights based on macroeconomic models and available macroeconomic data.

  • Teaching

    The course consists of plenary lectures, guest lectures, students submit group assignments.

  • Recommended prerequisites

    Macroeconomics at the bachelor level, for example the textbook by Jones "Macroeconomics" .

  • Required prerequisites


  • Requirements for course approval

    Two assignments must be passed (approved) in order to take the exam.

  • Assessment

    4 hours written school exam.

  • Grading Scale


  • Computer tools

    Computers and statistical software are used to address empirical questions in some of the assignments.

  • Literature

    • P. B. Sørensen and H. J. Whitta-Jacobsen (2010): Introducing Advanced Macroeconomics. 2nd edition. McGraw Hill.
    • D. Backus et al. (2016): The Global Economy, NYU Stern.
    • Parts of textbooks, articles and research reports.


ECTS Credits
Teaching language

Autumn. Offered autumn 2019.

Course responsible

Professor Gernot Doppelhofer, Department of Economics

Lecturers: Gernot Doppelhofer, Krisztina Molnar, Department of Economics