Course code ECN320

ECN320 Macroeconomics III

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Showing course contents for the educational year 2019 - 2020 .

Course responsible: Roberto Javier Garcia
ECTS credits: 5
Faculty: School of Economics and Business
Teaching language: EN
(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 2019-2020
Preferential right:
Course contents:
The course emphasizes open market macroeconomics, particularly the balance of payments, international capital mobility, exchange rates and exchange rate regimes (including optimal currency areas). One theme is sustainability in a macroeconomic sense related to the link between external and internal imbalances. General equilibrium analysis is also featured to cover the relationships among various macroeconomic variables (aggregate demand, output, interest rates, exchange rates, inflation, employment, etc.). For a full description, follow the link:
Learning outcome:

Students should be able to use and apply economic reasoning and models to analyze the consequences of macroeconomic imbalances (trade and capital flows) that result from changes in key macroeconoimc indicators (aggregate demand, aggregate supply, interest rates, exchange rates, inflation, etc.) and macroeconomic policy (fiscal policy and monetary policy).

The course should give the student an appreciation of the complex interconnectedness of economics study, particularly for understanding current international macroeconomic and financial problems, the implications and limitations of monetary policy, choice of exchange rate regime, and liberalization of international capital and financial markets. Students will be able to consult the economics literature to further their understanding of the concepts and to have a critical understanding of macroeconomic theory and its limitations. The course will reinforce group learning through assigned tasks that address contemporary problems. 

Learning activities:
Lectures with student - teacher interaction and in-class exercises. Group or individual assignment requiring presentation and/or written report on a key topic demonstrating command of relevant theory and models.
Teaching support:
The teacher has office hours, and is available to discuss topics and assignment activities. The instructor is available during exercise sessions for consultations.
Krugman, Obstfeld and Melitz, International Economics: Theory and Policy, Pearson Education Limited, ISBN 10:1-292-01955-7. Plus a selection of book chapters [Appleyard and Field, International Economics, McGraw-Hill, ISBN 0-07-231514-8] and journal or newspaper articles. A reading list will be provided at the start of the semester. All course info available at:  
Bachelor´s degree in economics or an intermediate course in macroeconomics at the level of ECN222 Intermediate Macroeconomics. Bachelor's level course in international economics can be useful.
Recommended prerequisites:
ECN302 Mathematics for Economists
Mandatory activity:
There are most likely two in-class group exercises. Exercises can be worked on individually or in selected groups. In addition, there may be an assignment that requires research over a topic and collection of macroeconomic indicators for a country case. Presentation of the assignment/or a short written report can be expected. 
Written examination, 3 hours (100%)
Nominal workload:
150 hours
Entrance requirements:
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse).
Type of course:
3-4 hours per week for lectures and exercises, meeting 5-7 times and a review session.
The course is in English. Incoming students can contact student advisors at the School of Economics and Business ( for admission to the course. 
An external examiner will examine the curriculum, examination sets and exam assessment guide.
Examination details: One written exam: A - E / F