ØKB1115 Macroeconomics

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

Learning Outcome

  • 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. 

Entry requirements


Recommended previous knowledge

Basic mathematics

Teaching methods

 Lecture and assignments.

Course requirements

 Yes, specified in the course plan in the semester start


Written exam, 4 hours, 100%

Grade scale A-F

Examination support material

Basic calculator

More about examination support material

Course reductions

  • BØA118 (1) - Macroeconomics - Reduction: 7.5 studypoints
  • ØSO002 (1) - Macroeconomics - Reduction: 7.5 studypoints
  • SØ6-1000 (1) - Macroeconomics - Reduction: 7.5 studypoints
  • ØKB2022 (1) - Macroeconomics - Reduction: 7.5 studypoints
  • ØKB022 (1) - Macroeconomic, Theory and Policy - Reduction: 6 studypoints
  • ØKB005FOREØK (1) - Macro economy - Reduction: 6 studypoints
  • SA0672 (1) - Macro Economics - Reduction: 6 studypoints
  • ØKB2102 (1) - Macroeconomics - Reduction: 7.5 studypoints