BØA118 Macroeconomics

Contents and structure

The course covers the following topics:

- National Account

- Basic Keynesian models

- Labour market and the supply side of the economy

- Business cycles, fiscal and monetary policy, in the setting of a closed and an open economy.

- Economic growth

- Financial system, regulation, instabillity and crises

Learning Outcome

Knowledge

• Basic macroeconomic data from the National Account.

• Important macroeconomic data such as price indices and data from labour market.

• Basic theory for demand for goods and services in a country and Keynesian theory.

• How monetary and fiscal policy affects demand.

• Aspects of Norwegian monetary and fiscal policy

• Main theories concerning wage setting

• Some knowledge of theory for unemployment

• Dynamics between supply, demand, business cycles and inflation and wage setting,

• Basic understanding of how monetary policy transmit to and affect various aspects of the economy.

• Basic theory for interest rate, prices and the exchange rate

• How economic growth affect welfare and prosperity.

• Basic functioning of the financial system and the effect of regulations.

• Basic understanding og financial instability, economic crises and zero interests.

Skills

• Interpret economic data

• Apply an economic model to analyse various shocks to the economy and how economic policy works

• Apply an economic model in order to understand business cycles and how an inflation target works.

• Read and comprehend macroeconomic events based on macroeconomic theory.

Entry requirements

None

Recommended previous knowledge

Knowledge corresponding to the subject Mathematics for economists in the bachelor's program in Business Administration

Teaching methods

Lectures and problem solving

Compulsory learning activities

2 - 4 assignments during the semester

Assessment

4 hours written exam at campus

Grades A - F, where F corresponds to fail

Examination support material

Simple calculator of model:

- Casio fx-82 (all models: ES, ES Plus, EX, Solar etc.)

- TI-30Xa, TI-30XIIS, TI-30XS MultiView

- Sharp EL-531TG, Sharp EL-531TH, Sharp EL-531TS

More about examination support material

Course reductions

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• SØ6-1000 - Samfunnsøkonomi makro - Reduction: 6 studypoints
• ØKB1115 - Makroøkonomi - Reduction: 7.5 studypoints
• ØSO002 - Makroøkonomi - Reduction: 7.5 studypoints
• ØKB2102 - Makroøkonomi - Reduction: 7.5 studypoints
• SA0672 - Makroøkonomi - Reduction: 6 studypoints
• ØKB005FOREØK - Makroøkonomi - Reduction: 6 studypoints
• ØKB022 - Makroøkonomi, teori og politikk - Reduction: 6 studypoints
• ØKB2022 - Makroøkonomi - Reduction: 7.5 studypoints
• LOØØ01 - Makroøkonomi - Reduction: 6 studypoints