ECN400 Macroeconomic Theory and Policy

• Topics

   Structural, long-run macroeconomic issues

  •  
    • Economic growth
    • Consumption and savings
    • Investments

  Short-run macroeconomics

  •  
    • The New-Keynesian model framework
    • Stabilization policy, monetary policy
    • Labor markets

  Government debt and fiscal policy

  •  
    • Topics in macroeconomics
    • Open economy
    • Financial crises and unemployment

• Learning outcome

  After completing this course, students will have

  Knowledge

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

  Skills

  • 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.

  Competence

  • 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  assignments and develop a project in groups.

• Required prerequisites

  Basic courses in microeconomics and macroeconomics as taught in NHH's bachelorprogram or equivalent.

• Requirements for course approval

  Two assignments and one case presentation must be passed (approved) in order to take the exam.

• Assessment

  4 hours written school exam.

• Grading Scale

  Grading scale A-F.

• Computer tools

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

• Literature

  • D. Backus et al. (2016): The Global Economy, NYU Stern.
  • Parts of textbooks, articles and research reports.