Macroeconomics III

Course content

This course aims at providing insight into the basic models, concepts, methods and results of modern macroeconomics and to be a prerequisite for the more specialized macroeconomic courses. We will study what determines savings and capital accumulation in a general equilibrium framework. How taxes and public debt affect the economy. The effects of uncertainty and expectations, in particular how stabilization policy is affected by the way expectations are formed. Political limits to fiscal and monetary policy are analyzed.

Education

MSc programme in Economics – mandatory course at first semester - if not taken at the BSc programme in Economics

Bacheloruddannelsen i økonomi – Prioriteret valgfag på 3. år

The Danish BSc programme in Economics - prioritized elective at the 3rd year

 

Learning outcome

After completing the course, the student should be able to:

Knowledge:

  • Understand the basic models, concepts, methods and results of modern dynamic macroeconomic analysis.
  • Use these tools to understand how shocks propagate in the economy.  

 

Skills:

  • Manage the topics, methods, tools and theories learned during the course.
  • Analyze the role of expectations and dynamic linkages, and to be proficient in the application of the concepts and methods which can be then used in other courses or in a future job after graduation.

 

Competencies:

  • Analyze a macroeconomic problem, where the above‐mentioned concepts and methods are central, that is competence in solving such models and explaining in economic terms the results and implications and how they derive from the assumptions of the model.

 

The teaching will consist of lectures, as well as exercise classes.

Bibliography:

Romer D., 2012, “Advanced Macroeconomics”, 4th edition, McGraw-Hill.

Blanchard O. and S. Fischer, 1989, “Lectures on Macroeconomics”, MIT Press.

Persson T. and G. Tabellini, 2000, “Political Economics”, MIT Press.

Christiano L., 2011, “Remarks on Unconventional Monetary Policy”, International Journal of Central Banking.

Gonzalez-Eiras M. and D. Niepelt, 2008, “The future of social security”, Journal of Monetary Economics.

The course requires knowledge equivalent to that achieved in Macroeconomics I, Macroeconomics II, "Probability theory and statistics" (Sandsynlighedsteori og statistik) and Econometrics I.

Schedule:
Spring 2018:
3 hours lectures a week from week 6 to 20 (except holidays).
2 or 3 hours exercise classes 1 to 2 times a week from week 6/7 to 21 (except holidays).

The overall schema for the BA 3rd year can be seen at https:/​/​intranet.ku.dk/​polit_ba/​undervisning/​Lektionsplan-F18/​Sider/​default.aspx
or the Master at https:/​/​intranet.ku.dk/​ECONOMICS_MA/​COURSES/​COURSECATALOGUE-F18/​Pages/​default.aspx

Autumn 2017:
3 hours lectures a week from week 36 to 50 (except week 42).
2 or 3 hours exercise classes 1 to 2 times a week from week 36/37 to 50 (except week 42).

The overall schema for the BA 3rd year can be seen at https:/​/​intranet.ku.dk/​polit_ba/​undervisning/​Lektionsplan-E17/​skemaer/​Sider/​default.aspx
or the Master at https:/​/​intranet.ku.dk/​economics_ma/​courses/​CourseCatalogue-E17/​Courseschema/​Pages/​default.aspx

Timetable and venue:
To see the time and location of lectures and exercise classes please press the link/links under "Se skema" (See schedule) at the right side of this page (E means Autumn, F means Spring). The lectures is shown in each link.

You can find the similar information partly in English at
https:/​/​skema.ku.dk/​ku1718/​uk/​module.htm
-Select Department: “2200-Økonomisk Institut” (and wait for respond)
-Select Module:: “2200-E17; [Name of course]” or “2200-F18; [Name of course]”
-Select Report Type: “List – Weekdays”
-Select Period: “Efterår/Autumn – Weeks 31-5” or “Forår/Spring – Week 5-30”
Press: “ View Timetable”

Please be aware regarding exercise classes:
- The schedule of the exercise classes is only a pre-planned schedule and can be changed until just before the teaching begins without the participants accept. If this happens it will be informed at the intranet or can be seen in the app myUCPH and at the above link
- That the study administration allocates the students to the exercise classes according to the principles stated in the KUnet.
- If too many students have wished a specific class, students will be registered randomly at another class.
- It is not possible to change class after the second registration period has expired.
- If there is not enough registered students or available teachers, the exercise classes may be jointed.
- The student is not allowed to participate in an exercise class not registered, because the room has only seats for the amount of registered student.
- The teacher of the exercise class cannot correct assignments from other students than the registered students in the exercise class except with group work across the classes.
- That all exercise classes will be taught in English.

ECTS
7,5 ECTS
Type of assessment
Written examination, 3 hours under invigilation
at the computers of Copenhagen University.
The exam assignment is in English and must be answered in English.
____
Aid
Without aids
Marking scale
7-point grading scale
Censorship form
No external censorship
The course can be selected for external assessment.
____
Criteria for exam assessment

Students are assessed on the extent to which they master the learning outcome for the course.

To receive the top grade, the student must with no or only a few minor weaknesses be able to demonstrate an excellent performance displaying a high level of command of all aspects of the relevant material and can make use of the knowledge, skills and competencies listed in the learning outcomes.

Single subject courses (day)

  • Category
  • Hours
  • Lectures
  • 42
  • Class Exercises
  • 42
  • Preparation
  • 119
  • Exam
  • 3
  • English
  • 206