ECN400 Macroeconomic Theory and Policy

Autumn 2021

Topics
The course will cover the following topics in macroeconomics:
- Basics of modern macroeconomics: individual optimization
- How do markets clear: general equilibrium
- Planning for the future: dynamic problems
- Consumption and savings
- Real business cycle
- Economic growth
- Government spending and fiscal policy
- Inflation and monetary policy
- 2008 Great recession, and 2020 Covid Economics
Learning outcome
Knowledge

Upon completion of the 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
Skills

Upon completion of the course, students will be able to:
- analyse macroeconomic questions with the help of modern macroeconomic models
Competence

Upon completion of the course, students will be able to:
- communicate key theoretical and empirical insights based on macroeconomic models and available macroeconomic data.
Teaching

The course consists of in-person plenary lectures, online lectures, guest lectures, exercise classes, and group assignments.
Recommended prerequisites

Macroeconomics at the undergraduate level, for example the textbook by Jones "Macroeconomics".
Required prerequisites

None.
Requirements for course approval

70% of assignments must be passed (approved) in order to take the exam.
Assessment

4 hours individual take-home exam.

The exam must be written in English.
Grading Scale

A-F
Computer tools

Computers and statistical software are used to address empirical questions in some of the assignments.
Literature
- Andolfatto, David (2008): Macroeconomic Theory and Policy (2nd Edition) (online book)
- D. Backus et al. (2016): The Global Economy, NYU Stern. (online book)
- Maurice Obstfeld and Kenneth Rogoff: Foundations of International Macroeconomics, MIT Press (copies of selected parts will be provided)
- Parts of recent articles and research reports.