Course description for academic year 2019/2020
Contents and structure
This course is divided into the following parts - Introduction and overview
- Introduction and overview
- Business cycles and stabilization policies
- Closed economy
- Small open economy
- Economic growth
- Economic crisis and depressions
- Money, banking and financial regulations
- Sovereign Debt Crisis
- The liquidity trap
- Knowledge of fundamental macroeconomic data from the national account systems.
- Knowledge of other macroeconomic data such price indexes og numbers for unemployment and employment.
- Knowledge of basic theories for aggregate demand in a country, including Keynesian theory.
- Knowledge about how money and fiscal policy affect aggregate demand in an economy.
- Knowledge of interest rate rules as a way for conducting monetary policy.
- Knowledge of today's Norwegian fiscal and monetary policy.
- Knowledge of main theories about unemployment and wage formation.
- Knowledge of how aggregate demand and supply cause business cycle flucations and affect inflation and wages.
- Knowledge on how the monetary policy transmission mechanisms operates (basic form).
- knowledge about the relationship between interest rate, prices and exchange rate movements.
- Knowledge about how economic growth affects a country welfare.
- Knowledge about how saving, population growh and technological progress contribute to growth in an economy as formulatd in the Solow-modell.
- Knowledge about the basic architecture in a modern financal system.
- Knowledge about causes behind severe economic crisis and tools for stabilization.
Recommended previous knowledge
Lecture and assignments.
Yes, specified in the course plan in the semester start
Written exam, 4 hours, 100%
Grade scale A-F
Examination support material
Basic calculatorMore about examination support material