Ad­vanced Macro­economics

Course content

This course teaches the macroeconomics of the 21st century. Firms and governments operate in the macroeconomic environment. The understanding of macroeconomics is therefore essential for key employees in both financial and non-financial institutions, corporations, and the government. The course focuses on growth and productivity and their interplay with Fiscal and Monetary policies.  The course will also study the determinants of production, consumption, savings and investment.

Topics
• Introduction to Macroeconomics, Romer (2019), introduction and chapter 1
• Consumption, Romer (2019) chapter 8
• Investment, Romer (2019) chapter 9
• Economic Growth: Solow, Ramsey and OLG models, Romer (2019) chapters 1 and 2
• Real Business Cycle model, Romer (2019) chapter 5
• Nominal Rigidities, Romer (2019) chapters 6 and 7
• Lucas information model, Romer (2019) chapter 6
• Monetary Policy, Romer (2019) chapters 7 and 12

In relation to Nordic Nine principles the course provides a theoretical framework so students can understand, analyze, and communicate macroeconomic issues. And we want our students to be able to participate in interdisplinary work processes to make informed decisions about the business environment. All of this relates to the Value principle that:

“you are critical when thinking and constructive when collaborating”

Second, by the very nature of macroeconomic data and macroeconomic modelling, the course relates to the Knowledge principle that:

“you are analytical with data and curious about ambiguity”

Finally, macroeconomic theories taught in this course aim at maximizing welfare to the current and future generations and that directly relates to the Action principle that:

“you produce prosperity and protect the prosperity of next generations”.