SAM3 Macroeconomics

Autumn 2021

  • Learning outcome

    The course shall provide an overview of central macroeconomic relations and give insight into the use of models for analyzing these relationships in an open economy

    On completing the course, the student should have obtained the following:



    • Know national accounts and understand how different transactions are posted in the national accounts and foreign accounts
    • Understand key mechanisms behind economic growth
    • Recognize macroeconomic fluctuations and the importance of expectations and frictions
    • Understand possible effects of monetary and fiscal policy
    • Understand how the macroeconomic models relate to the Norwegian and international reality



    • Be able to analyze key mechanisms for economic growth, including the role of certain policy measures
    • Be able to use a model to describe how the economy is affected by supply and demand shocks
    • Be able to use a model to describe effects of fiscal and monetary policy
    • Be able to use the models to analyze the effects of certain macroeconomic shocks in Norway and internationally


    General competence

    • Obtained an ability to understand key macroeconomic conditions, to participate in discussions on macroeconomic questions and with simple words be able to explain key macroeconomic mechanisms


ECTS Credits