ECN400 Macroeconomic Theory and Policy

• 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

  8 hours 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 (selected parts)
  • Parts of recent articles and research reports.