Course code ECN122

ECN122 Introduction to Macroeconomics, Part II

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Showing course contents for the educational year 2017 - 2018 .

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 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 of 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 utilization. - The national budget and accounts. - International trade and currency markets.
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.

"Flipped classroom" since the Spring semester 2017.

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 have.  This will be expanded as new questions are asked. The course responsible can be contacted by email or drop-in. For longer academic conversations, it is recommended to schedule a meeting.

Information about the main textbook will be available on the course web page 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.
ECN120 or an equivalent introductory course in macroeconomics
Recommended prerequisites:
ECN110 or an equivalent introductory course in microeconomics
Written examination, 3 hours (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:
2-3 double lectures and 9-11 double discussion and exercise sessions.
The course builds on ECN120.
External examiner will assess assess exam questions and suggested solutions.
Allowed examination aids: B1 Calculator handed out, no other aids
Examination details: One written exam: A - E / Ikke bestått