Macroeconomic Theory and Policy

ECN400 Macroeconomic Theory and Policy

Spring 2019

Autumn 2019
  • 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


    • 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  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.


ECTS Credits
Teaching language


Course responsible

Professor Gernot Doppelhofer, Department of Economics

Lecturers: Gernot Doppelhofer, Krisztina Molnar, Håkon Tretvoll, Department of Economics