Macroeconomics 3 (MakØk3) - Business Cycles and Monetary Stabilization Policies

Course content

The classical Monetary Model. The Basic New-Keynesian Model. Monetary stabilization policy in the New Keynesian Model. Credibility issues in stabilization policy. Sticky wages and prices and stabilization policy. Applications: Unconventional monetary policy; fiscal policy at the zero lower bound.

Education

MSc Programme in Mathematics-Economics

Learning outcome

Knowledge within:

  • the scope and limits of macroeconomic stabilization policy with an emphasis on monetary policy
  • welfare rationales for stabilization policies.

Skills at:

  • understanding of the scope and limits of macroeconomic stabilization policy with an emphasis on monetary policy
  • solving simple versions of modern theoretical models of the business cycle
  • understanding the economic mechanisms at work in the mathematical models.

Competences to:

  • addressing real-life policy issues using the methods used in the course.

6 hours of combined lecturing and exercises per week for 7 weeks.

Makroøkonomi 1 (MakØk1) and Makroøkonomi 2 (MakØk2)

ECTS
7,5 ECTS
Type of assessment
Written examination, 3 hours under invigilation
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Aid
Without aids
Marking scale
7-point grading scale
Censorship form
External censorship
Criteria for exam assessment

The student must in a satisfactory way demonstrate that he/she has mastered the learning outcome.

Single subject courses (day)

  • Category
  • Hours
  • Lectures
  • 42
  • Exam
  • 3
  • Preparation
  • 161
  • English
  • 206