Course content
The aim of the course is to provide students with an understanding of the macroeconomic environment of businesses. Such understanding is essential for key employees in both financial and non-financial institutions, corporations, and the government. The course focusses on business cycles, economic policy, and growth. Business cycle fluctuations and the associated policy responses is a key concern of governments and central banks over the short- to medium run. Fostering economic growth, on the other hand, is a major objective over the long run. This course will study the consequences and appropriate policy responses to economic downturns, and develop an understanding of the tensions between different policy objectives; stabilizing output on the one hand, and inflation on the other. Moreover, we will analyzes the sources of economic growth, and its main determinants.
In relation to Nordic Nine
Advanced Macroeconomics provides students with knowledge about the economic climate in which businesses operate (NN1), in particular with respect to macroeconomic quantities such as inflation, economic growth and unemployment. Students reflect on societal challenges such as technological change, joblessness, and learn to apply entrepreneurial knowledge to address these challenges (NN4). More generally, the course encourages critical thinking about the guidance of economic theories for solving real-world problems (NN6). Students also learn about intertemporal trade-offs -- e.g. such as the tension between forgone present consumption vs. productive investments -- and how these challenge the prosperity of present and future generations (NN7).
See course description in course catalogue