Course code ECN122

ECN122 Introduction to Macroeconomics, Part II

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Showing course contents for the educational year 2015 - 2016 .

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 Spring parallel. This course has teaching/evaluation in Spring parallel.
Course frequency: Annually
First time: Study year 2013-2014
Preferential right:
Course contents:
The course consists of two main parts: economic growth and human well-being, and economic stabilization policies. In addition, trade central theories are introduced and discussed in conjunction with international currency markets.
Learning outcome:
Students are expected to be able to use and understand basic economic models for analyzing economic growth and stabilization policies. The course builds on ECN120, where a broad introduction was given. Compared to ECN 120, this course provides a more in-depth analysis on the following areas: - Growth and human well-being (classical growth models, Solow type models, human capital and endogenous growth models), internationally and for Norwegian conditions. - Capital management linked to countries with stock resources, with a special emphasis on Norway: the Hartwick rule applied to Norway's petroleum sector and the risk for Dutch disease. - Economic stabilization policies (fiscal policies/basic Keynes models, monetary policy). The financial crisis is used to illustrate issues at the international level, and nationally for economies with low and high capacity ulilization. - The national budget and accounts. - International trade and currency markets.
Learning activities:

Lectures (20-25 hours), and exercise and discussion sessions (8-12 hours). Lecture overheads are provided prior to lectures, and it is expected that students are prepared when they turn up for lectures. The exercise and discussion sessions consists of two parts: - A run through of exercises (suggested answers available on the course web pages) and discussion sessions. It is expected that students have attempted to solve the problem sets. - Group discussions, where groups discuss given topics and provide a short introduction for plenary discussions. Øvings- og diskusjontimene består av to deler.

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:
This course has an extensive web page with links to related news, further readings, governmental agencies and NGOs that are deemed important for macro economic policy. The course web is supposed to be the starting point for all learning in the course.
Information about the main textbook will be available on the course web pages aprx. three weeks prior to the beginning of the course. Additional materials may be added as the course progresses. Lectured materials are part of the mandatory curriculum.
Recommended prerequisites:
Mandatory activity:
Three hours written exam (100%), consisting of three parts: (i) multiple choice, (ii) graphical analysis, and (iii) verbal/mathematical analysis
Nominal workload:
150 hours.
Entrance requirements:
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)
Reduction of credits:
ECN220 - 5 ECTS.
Type of course:
Lectures: 2 hours per week Exercise and discussion sessions: about 2 hours every other week
The course builds on ECN120
External examiner will assess assess exam questions and suggested solutions.
Allowed examination aids: Calculator handed out, no other aids
Examination details: One written exam: A - E / Ikke bestått