Macroeconomics III (p)

Course content

The teaching in this course may be changed to be taught either fully or partly online due to COVID-19. For further information, see the course room on Absalon. The time, place and type of assessment used for the exam may also be changed due to COVID-19, and any further information will be announced under the panel “Exam”.

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 (angivet med et p)

The Danish BSc programme in Economics - prioritized elective at the 3rd year (symbolized by ‘p’).

 

Learning outcome

After completing the course the student is expected to be able to:

 

Knowledge:

  • Account for the basic models, concepts, methods and results of modern dynamic macroeconomic analysis.
  • Identify and discuss how shocks propagate in the economy.  

 

Skills:

  • Analyze the role of expectations and dynamic linkages.
  • Analyze a macroeconomic problem, where the above‐mentioned concepts and methods are central.
  • Apply the models and explain in economic terms the results and implications and how they derive from the assumptions of the model.

 

Competencies:

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

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

Bibliography:

  • Niepelt D., 2018, “Macroeconomic Models”, pre-print.
  • 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 at the Bachelor of Economics, University of Copenhagen.

Schedule:

Autumn 2020
2 hours lectures 1 to 2 times a week from week 36 to 50 (except week 42).
3 hours exercise classes a week from week 36/37 to 50 (except week 42).

Spring 2021:
3 hours lectures a week from week 6 to 20 (except holidays).
3 hours exercise classes a week from week 6/7 to 20/21 (except holidays).

The overall schema for the BA 3rd year and Master can be seen at KUnet:
MSc in Economics => "courses and teaching" => "Planning and overview" => "Your timetable"
BA i Økonomi/KA i Økonomi => "Kurser og undervisning" => "Planlægning og overblik" => "Dit skema"

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

You can find the similar information in English at
https:/​/​skema.ku.dk/​ku2021/​uk/​module.htm
-Select Department: “2200-Økonomisk Institut” (and wait for respond)
-Select Module:: “2200-E20; [Name of course]” or “2200-F21; [Name of course]”
-Select Report Type: “List – Weekdays”
-Select Period: “Efterår/Autumn – Weeks 31-4” 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´ acceptance. If this happens it will be informed at the links in the right side, in the app myUCPH and at your personal schema at KUnet.
- 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.

Written
Oral
Individual
Collective

 

The students receive individual feedback at their mandatory assignments from the teaching assistants.

The lecturer gives collective oral feedback in the lectures.

ECTS
7,5 ECTS
Type of assessment
Written examination, 3 hours under invigilation
The exam assignment is in English and must be answered in English.
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Aid
Without aids

to the ordinary written exam and the written reexam.

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Marking scale
7-point grading scale
Censorship form
No external censorship
for the written exam. The exam may be chosen for external censorship by random check.
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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 Instruction
  • 42
  • Preparation
  • 119
  • Exam
  • 3
  • English
  • 206