AØKA08006U Macroeconomics III (former Macro C)

Volume 2015/2016
Education

Prioritized elective at the 3.year of BSc in Economics
Compulsory at MSc in Economics, if not taken at the BSc of Economics

 

Content

The aim of the course is to provide insight into the basic models, concepts, methods and results of modern macroeconomics and to be a prerequisite for the more specialized macroeconomic courses (Advanced Macroeconomics, Economic Growth, Monetary Policy, Advanced Development Economics: Macro Aspects, and International Macroeconomics). Among other things the course will focus on
• What determines savings and capital accumulation in a general equilibrium framework. • How will taxes and public debt affect the economy?
• What are the effects of uncertainty and expectations?
• Why is money valued and how it affects capital accumulation?
• How is stabilization policy affected by the way expectations are formed?
• The political limits to monetary policy.

Learning Outcome

At the end of the course, the student should be able to demonstrate:

  •  Understanding of the main model frameworks for long‐run macroeconomics. This includes the Diamond model with overlapping generations in discrete time and the Ramsey model in continuous time.
  • Proficiency in the application of the concepts and methods from these frameworks, including competence in dynamic optimization and dynamic analysis in discrete and continuous time.
  • Understanding of the role of expectations and basic knowledge of macroeconomic models with forward looking expectations under both perfect foresight and uncertainty and rational expectations. Time consistent and credibility issues regarding monetary and fiscal policy as well as institutional solutions.
  • Proficiency in the application of the related concepts and methods.

Competence in analyzing a macroeconomic problem, where the above‐mentioned concepts and methods are central, that is competence in solving such models and explaining in economic terms the results and implications and how they derive from the assumptions of the model.

The particularly good performance, corresponding to the top mark, is characterized by a complete fulfillment of these learning objectives.

Syllabus:

  • Romer, David: Advanced Macroeconomics, fourth edition (2012), MacGraw Hill.
The course requires knowledge equivalent to that achieved in Macroeconomics I (Macroeconomics A), Macroeconomics II (Macroeconomics B), Probability theory and statistics/​Sandsynlighedsteori og statistik (Econometrics A) and Econometrics I (Econometrics B).
Schedule:

2 hours of lecturing and 2 hours of excercises 1 to 2 times a week for 14 weeks


Timetable and classroom:
For time and classroom please press the link under "Se skema"(See schedule) at the right side of this page (15E means Autumn 2015, 16F means Spring 2016).

You can find the similar information partly in English at
https:/​/​skema.ku.dk/​ku1516/​uk/​module.htm
-Select Department: “2200-Økonomisk Institut” (and wait for respond)
-Select Module:: “2200-F16;Macroeconomics III”
-Select Period: “Forår/Spring – Weeks 4-29”
-Press: “ View Timetable”

Normally the exercise classes begin in the second week of the semester.

Please be aware:
- That all exercise classes will be taught in English from F16.
- If too many students have wished a specific class students will be registered at another class. It is not possible to change class after the registration period has expired, and after the Study Administration has allocated the students to a class unless the registration clashes with another course registration.
- It is not allowed to participate in a exercise class a student is not registered.
- If not enough registered students or available teachers the classes may be jointed so class 1 and 2 become one, 3 and 4 become one and 5 and 6 become one.
- That the schedule of the exercise classes can be changed until just before the teaching begins without the participants accept. If this happens the participants will be informed or can see it at the above link. After enrollment it can be seen in KUnet and by the app myUCPH.
  • Category
  • Hours
  • Class Exercises
  • 42
  • Exam
  • 3
  • Lectures
  • 42
  • Preparation
  • 119
  • Total
  • 206
Credit
7,5 ECTS
Type of assessment
Written examination, 3 hours under invigilation
The exam is a 3 hours exam without any aids at the computers of Copenhagen University.
Exam registration requirements

As a part of the course, three written assignments should be completed and accepted.

Aid
Without aids
Marking scale
7-point grading scale
Censorship form
External censorship
100% censorship
Exam period

Autumn 2015: The exam takes place January 4, 2016 at Peter Bangs Vej 36. 2000 Frederiksberg http:/​/​pc-eksamen.ku.dk/​pc_exam 

Spring 2016: The exam takes place June 10, 2016 at Peter Bangs Vej 36. The exact time of the exam will be informed in the Self-Service at KUnet mid-April.

For enrolled students more information about examination, exam/re-sit, rules etc. is available at the student intranet for Examination (English),student intranet for Examination (KA-Danish) and student intranet for Examination (BA-Danish).

 

Re-exam

Autumn 2015: Same as the ordinary exam.

Spring 2016: The exam takes place August 22, 2016 at Peter Bangs Vej

The exact time of the exam will be informed in the Self-Service at KUnet.

If only a few students have registered for the re-exam, the exam might change to an oral exam including the date for the exam, which will be informed  by the Examination Office.

Criteria for exam assesment

The student must in a satisfactory way demonstrate that he/she has mastered the learning outcome of the course.