Course code ECN120

ECN120 Introduction to Macroeconomics, part I

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Showing course contents for the educational year starting in 2017 .

Course responsible: Eirik Romstad
Teachers: Per Halvor Vale
ECTS credits: 5
Faculty: School of Economics and Business
Teaching language: NO
(NO=norsk, EN=Engelsk)
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 macroeconomic concepts.  (ii) be able to use basic economic theory and analytical tools to discuss important macroeconomic problems. The analytical tools include (a) graphical analysis of commodity, labor, capital, money and currency markets, and use the results from these analysis to understand impacts on the economy, and (b) basic macroeconomic models.
Learning activities:

The course uses "flipped classroom", i.e., preparation materials and reading guide for the discussion and exercise sessions are available on the course web page. To achieve learning objectives it is strongly recommended that students prepare for each discussion and exercise session in advance of the session. Discussion and exercise sessions are thematically organized. Exercises (with proposed solutions) are available on the course web page. Students are expected to have attempted to solve the exercises prior to the discussion and exercise sessions. Each discussion and exercise session contains central questions for discussion that are posted on the course web page. Students are divided into groups, and each group discusses and prepares a summary of their discussion prior to plenary discussions. Participation in the discussion and exercise sessions is voluntary, but participation is recommended as these sessions are the course arena for making knowledge active.

The course was given using "flipped classroom" for the first time in January 2016.

Teaching support:

The course web page contains pointers to background materials and news events that are related to the course contents, and make up an important source for student learning. It is recommended that students form self organized groups, for exampe 3-4 persons, and work together on the theoretical materials and exercises. Working on exercises and active participation is important for meeting the learning objectives.

The course web also contains a Q&A section that provides answers to the most common questions students ask. This will be expanded as new questions are asked. The course responsible person can be contacted by email or drop-in. For longer academic conversations, it is recommended to schedule a meeting.

Syllabus:
Information about textbook will be available approximately three weeks prior to the beginning of the course. Additional reading/teaching materials will be available on the course web page as the semester progresses.
Prerequisites:
None except the ordinary admissions criteria for the various study programs.
Recommended prerequisites:
A good background in mathematics from high school will make it easier for students to acquire economic theories. ECN 110 or equivalent introcourse in microeconomics.
Assessment:
Written examination, 3 hours (100%).
Nominal workload:
150 hours
Entrance requirements:
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse).
Reduction of credits:
None, but some materials covered in introductory microeconomics (ECN 110) will be repeated.
Type of course:
2 double lecture hours (start and finish) + 6-8 double hours of discussion and exercise sessions.
Note:
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.
Examiner:
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: B1 Calculator handed out, no other aids
Examination details: One written exam: A - E / Ikke bestått