Macroeconomics

About the course

Subjects

Microeconomics Macroeconomics International economics

Course content

The aim of this course is to provide students with an introduction to macroeconomics. The course focuses on the behavior of the economy in the short-run, medium-run, and long-run, specifically looking at the goods market, the financial market and the labor market. The course is designed to help students understand how these markets operate, how they interact with each other, and how they are impacted by shocks and macroeconomic policies. Students also learn to apply the theories to the real world and think critically about recent macroeconomic developments.

In relation to Nordic Nine

This course provides students with knowledge about the economic environment in which businesses operate, e.g. related to inflation, economic growth and unemployment (NN1). Students reflect on societal challenges such as technological change and inequality and learn to apply economic thinking to address these challenges (NN4). More generally, the course encourages thinking critically about the usefulness of economic theories for solving real-world problems (NN6). Students also learn about intergenerational conflicts e.g. related to taxation and government debt, and how these challenge the prosperity of present and future generations (NN7).

See course description in course catalogue

What you will learn

Explain basic macroeconomic terminology (e.g. "growth", "recession", "natural unemployment" etc.) in a comprehensive way.
Describe and explain the assumptions and mechanisms of the main macroeconomic models (e.g. the IS-LM model, the IS-LM-PC model, the Solow growth model, etc.). Illustrate these models graphically and solve them algebraically.
Describe how GDP is determined in the short run, the medium run and the long run. Explain how GDP is affected by shocks.
Describe the main determinants of other important macroeconomic variables such as inflation, unemployment, real wage, interest rate etc. Explain how these macroeconomic variables are affected by shocks.
Perform policy experiments (e.g., changes in government spending or changes in money supply). Interpret the mechanisms verbally and graphically, and solve algebraically.

Facts

Level

Bachelor

Type

Mandatory course

ECTS

7.5

Code

BPOLO1290U

Teaching periods

Spring – semester

Academic year

2025/2026

Status

Available places

Teaching language

English

Teaching Format

On campus

Exams

Written exam on campus
Individual exam, spring

Assessment type

7 point grading scale