Course code ECN120

ECN120 Introduction to Macroeconomics, part I

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Showing course contents for the educational year starting in 2015 .

Course responsible: Eirik Romstad
Teachers: Per Halvor Vale
ECTS credits: 5
Faculty: School of Economics and Business
Teaching language: NO
(NO=norsk, EN=Engelsk)
Limits of class size:
Teaching exam periods:
This course starts in January block. This course has teaching/evaluation in January block.
Course frequency: Annually
First time: 2006V
Preferential right:
Course contents:
Part 1: Basic economic terminology and theory that enables more focused analyses in parts 2 and 3. Part 2: The economy in the long and intermediate term: Economic growth, development and well-being. Part 3: The economy in the short term: Corrective and stabilizing economic policies.
Learning outcome:
Students should be able to understand basic macroeconomic models, which enables them to conduct basic analysis of questions regarding economic growth and development in the long run, full employment and stabilized economic development in the short run etc., and understand how the use of fiscal and monetary policy affects the economy in the short and long term. The students should i) learn economic concepts and ideas. ii) be trained in logical reasoning. iii) be given some training in the application of mathematics. iv) develop an academic attitude.
Learning activities:

The course combines lectures, exercises (with answers presented) and discussions. Overheads are available prior to lectures (to enable the students to prepare and have a more focused read of course readings). Separate exercise and discussion sessions are thematically organized. Exercises (with proposed solutions) are available on the course web pages. Students are expected to have attempted to solve the exercises prior to the exercise sessions. Each exercise and discussion session is organized according to theme, and central questions for discussion are posted on the course web pages. Students are divided in groups, and each group discusses and prepares a summary of their discussion prior to plenary discussions.

I consider to reduce the number of lecture hours and put lectures online (with sound).  This will free up student and lecturer time, which makes it possible to increase the number of exercise hours with more emphasis on group work and student-lecturer dialogue.

Teaching support:
The course web pages contains pointers to background materials and news events that are related to the course contents, and make up an important source for student learning.
Information about textook will be available approximately three weeks prior to the beginning of the course.  Additional readings/teaching materials will be available on the course web page as the semester progresses.
Recommended prerequisites:
A good background in mathematics from high school will make it easier for students to acquire economic theories.
Mandatory activity:
3 hours written examination (100%).
Nominal workload:
150 hours.
Entrance requirements:
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)
Reduction of credits:
ECN101 3 ECTS, EDS140 3 ECTS.
Type of course:
Lectures: 24 hours. Exercise and discussion sessions: 10 hours.
The course is a standard introductory course in macroeconomics, and equivalent courses are given at the universities and regional colleges in Norway, as well as at universities abroad.
External examiner will control the quality of syllabus, questions for the final examination, and principles for the assessment of the examination answers.
Allowed examination aids: Calculator handed out, no other aids
Examination details: One written exam: A - E / Ikke bestått