HA(fil.) - erhvervsøkonomi og filosofi
Makroøkonomi
About the course
What you will learn
Course aim: The purpose of the course is to give students an understanding of: (i) movements in the economy over the business cycle; (ii) macroeconomic stabilisation policy (monetary and fiscal) in closed and open economies; (iii) basic aspects of financial markets and expectations; (iv) economic growth in the long run.
- Explain basic macroeconomic terminology (e.g. "growth", "recession", "natural unemployment", "trade balance deficit" etc.) in a comprehensive way.
- Describe how real GDP is determined in the short and medium run.
- Describe the main determinants of other important macroeconomic variables such as inflation, unemployment, real wage, interest rate, exchange rate etc.
- Perform simple algebraic calculations related to developments in the main macroeconomic variables
- Describe and explain the assumptions and relations of the main macroeconomic models (e.g. IS/LM).
- Illustrate graphically these models, perform policy experiments (like increasing government spending or changing the money supply) and interpret verbally what happens when moving from one equilibrium to another.
- Solve algebraically simple macroeconomic models in order to determine the value of the variables in equilibrium (national income, interest rate, consumption, investment etc.)