Course Syllabus for students Autumn 2024

On completion of the course the students will be able to:

1. discuss complex macroeconomic policy issues and relate them to well understood macroeconomic theories.
2. distinguish between alternative ways of analysing economic growth and short-run economic fluctuations.
3. assess the aggregation problems associated with the interface between microeconomic assumptions and macroeconomic formulations.
4. assess how well theoretical models depict macroeconomic processes.

5. apply theories of economic growth and short-run economic fluctuations.
6. critically review existing research on economic growth and short-run economic fluctuations.
7. identify avenues for applied research in macroeconomics

8. analyse macroeconomics from the viewpoint of scientific, societal, distributional and ethical considerations

The course has the objective to provide the student with theories and methods for analysing macroeconomic growth and short-run macroeconomic fluctuations. The first part of the course is concerned with growth and focuses on questions such as why some economies are richer than others, and the determinants of the rise of real incomes over time. A range of models designed for this purpose as reviewed, such as the ones proposed by Solow, Ramsey, Diamond, as well as growth models where technological progress arises from research. The potential sources of the differences in average real incomes across countries are also explained. Since the behavior of consumption and investment is central to growth, their determinants are also examined in detail.

The second part of the course is concerned with the various theories and determinants of short-run macroeconomic fluctuations. Real-business-cycle theory models and Neo-Keynesian models of fluctuations, including Dynamic Stochastic General-Equilibrium models, are explained. The labor market, theories of unemployment, as well as topics on financial markets and financial crises are also reviewed. Finally, the second part of the course devotes time to macroeconomic policy. More specifically, it goes through theories and analysis of fiscal and monetary policies, where the term structure of interest rates plays a central role.

Connection to Research and Practice
Macroeconomic theories are presented in connection with empirical studies and real-world macroeconomics issues. The course is also related to research and practice as students write an assignment in the form of a literature review, which critically summarizes a group of key papers by other author(s) on the various topics covered in the course and that identifies avenues for applied research in macroeconomics.

Lectures and assignment sessions applying various approaches to analyse macroeconomics.

The teaching is conducted in English.

A Bachelor's degree equal to 180 credits (or the equivalent), including 60 credits in Economics, and a minimum of 15 credits in mathematics, statistics and/or econometrics (or the equivalent).

The course is graded A, B, C, D, E, FX or F.

Individual written exam (ILOs: 1-5) representing 6 credits.
Written assignment (ILOs: 6- 8), representing 1.5 credits.

Name of the Test	Value	Grading
Individual written exam	6 credits	A/B/C/D/E/FX/F
Written assignment	1.5 credits	A/B/C/D/E/FX/F

It is the responsibility of the examiner to ensure that each course is evaluated. At the outset of the course, the programme evaluators in the course must be contacted. In the middle of the course, the examiner should meet the programme evaluators to identify strengths/weaknesses in the first half of the course.

At the end of the course, the examiner should remind students to fill in the survey. The examiner should also call a meeting with the programme evaluators to debrief the course, based on course evaluation data and comments. The next time the course runs, students should be informed of any measures taken to improve the course based on the previous course evaluations.

At the end of each study period, JIBS’ Director of Quality and Accreditation crafts a “Course Evaluation Quarter Report”, presenting the quantitative results from course evaluation surveys. The Associate Dean of Education, The Associate Deans of Faculty, Programme Directors, and JSA President and Quality receive the report.

Academic integrity
JIBS students are expected to maintain a strong academic integrity. This implies to behave within the boundaries of academic rules and expectations relating to all types of teaching and examination.

Copying someone else’s work is a particularly serious offence and can lead to disciplinary action. When you copy someone else’s work, you are plagiarizing. You must not copy sections of work (such as paragraphs, diagrams, tables and words) from any other person, including another student or any other author. Cutting and pasting is a clear example of plagiarism. There is a workshop and online resources to assist you in not plagiarizing called the Interactive Anti-Plagiarism Guide.

Other forms of breaking academic integrity include (but are not limited to) adding your name to a project you did not work on (or allowing someone to add their name), cheating on an examination, helping other students to cheat and submitting other students work as your own, and using non-allowed electronic equipment during an examination. All of these make you liable to disciplinary action.

Listed literature combined with Lecture Notes, which are distributed for each lecture.

• Romer, David. Advanced Macroeconomics: The McGraw-Hill Companies, Inc. Latest edition.

A reading list with academic articles will be supplied at the course introduction.