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Macro­economics and European Eco­nom­ic In­teg­ra­tion

About the course

Emner
Mikroøkonomi Makroøkonomi International økonomi

Course content

This course offers an introduction to macroeconomic analysis. This includes the theory of output and interest rate determination; the relationship between goods and financial markets; the relationship between employment and inflation; the role of fiscal and monetary policy; and, not least, international economic relations. The course has a distinctively European focus, as it relates macroeconomic analysis to issues relevant to the European economy, such as (i) the costs and benefits of the European Monetary Union, (ii) the key monetary policy arrangements and inflation targeting in the Eurozone , (iii) the conduct of fiscal policy and the debates over government debts in the EU

See course description in course catalogue

What you will learn

After ending the course, the students should be able to:

  • Present the IS-LM and IS-LM-PC theoretical frameworks and explain how output and the interest rate are determined in the short and medium-run.
  • Describe the conduct of fiscal and monetary policies in closed economy and explain how these policies are impacted by openness to trade and financial flows.
  • Explain the Phillips curve and discuss the relation between GDP, unemployment and inflation.
  • Understand the concept of common currency area and describe its benefits and costs, both theoretically and in the case of the Eurozone.
  • Understand the current macroeconomic policy debates in the European Union.

Course prerequisites

No prerequisites in economics are required. The technical level required by the course is modest but basic math will be used in this class. More precisely, we will make extensive use of elementary algebra.

Facts

Level
Bachelor
Type
Obligatorisk fag – også udbudt som valgfag
ECTS
7,5
Code
BE­BUO1022U
Teaching periods
Forår – semester
Academic year
2024/2025
Status
Available places
Teaching language
English
Teaching Format
På campus
Exams
  • Skriftlig eksamen på campus
    Individual exam, sommer
Assessment type
  • 7-trins skala