AØKA08006U Macroeconomics III (p)

Volume 2021/2022
Education

MSc programme in Economics – mandatory course at first semester - if not taken at the BSc programme in Economics

 

Bacheloruddannelsen i økonomi – Prioriteret valgfag på 3. år (angivet med et p). The Danish BSc programme in Economics - prioritized elective at the 3rd year (symbolized by ‘p’).

Content

This course aims at providing insight into the basic models, concepts, methods and results of modern macroeconomics and to be a prerequisite for the more specialized macroeconomic courses. We will study what determines savings and capital accumulation in a general equilibrium framework. How taxes and public debt affect the economy. The effects of uncertainty and expectations, in particular how stabilization policy is affected by the way expectations are formed. Political limits to fiscal and monetary policy are analyzed.

Learning Outcome

After completing the course the student is expected to be able to:

 

Knowledge:

  • Account for the basic models, concepts, methods and results of modern dynamic macroeconomic analysis.
  • Identify and discuss how shocks propagate in the economy.  

 

Skills:

  • Analyze the role of expectations and dynamic linkages.
  • Analyze a macroeconomic problem, where the above‐mentioned concepts and methods are central.
  • Apply the models and explain in economic terms the results and implications and how they derive from the assumptions of the model.

 

Competencies:

  • Manage the topics, tools and theories learned during the course and be proficient in the application of the concepts and methods which then can be used in other courses or in a future job after graduation.

Bibliography:

  • Niepelt D., 2018, “Macroeconomic Models”, pre-print.
  • Romer D., 2012, “Advanced Macroeconomics”, 4th edition, McGraw-Hill.
  • Blanchard O. and S. Fischer, 1989, “Lectures on Macroeconomics”, MIT Press.
  • Persson T. and G. Tabellini, 2000, “Political Economics”, MIT Press.
  • Christiano L., 2011, “Remarks on Unconventional Monetary Policy”, International Journal of Central Banking.
  • Gonzalez-Eiras M. and D. Niepelt, 2008, “The future of social security”, Journal of Monetary Economics.
The course requires knowledge equivalent to that achieved in Macroeconomics I, Macroeconomics II, "Probability theory and statistics" (Sandsynlighedsteori og statistik) and Econometrics I at the Bachelor of Economics, University of Copenhagen.
The teaching will consist of lectures, as well as exercise classes.

Change per 24th of November 2021:
Due to an unforeseen change of instructor, the course will maintain the current schedule and structure, but lectures will be only available in a recorded format, with the exact calendar being available at a later stage posted in Absalon.


Restrictions due to Coronavirus:
The teaching in this course may be changed to be taught either fully or partly online due to COVID-19. For further information, please see the course room on Absalon (for enrolled students).
Schedule:

Autumn 2021
3 hours lectures a week from week 36 to 50 (except week 42).
3 hours exercise classes a week from week 36/37 to 50 (except week 42).

Spring 2022:
3 hours lectures a week from week 6 to 20.
3 hours exercise classes a week from week 6/7 to 20/21.

The overall schema for the BA 3rd year and Master can be seen at KUnet:
MSc in Economics => "courses and teaching" => "Planning and overview" => "Your timetable"
BA i Økonomi/KA i Økonomi => "Kurser og undervisning" => "Planlægning og overblik" => "Dit skema"

Timetable and venue:
To see the time and location of lectures and exercise classes please press the link/links under "Timetable"/​"Se skema" at the right side of this page (E means Autumn, F means Spring). The lectures are shown in each link.

You can find the similar information in English at
https:/​/​skema.ku.dk/​ku2122/​uk/​module.htm
-Select Department: “2200-Økonomisk Institut” (and wait for respond)
-Select Module:: “2200-E21; [Name of course]” or “2200-F22; [Name of course]”
-Select Report Type: “List – Weekdays”
-Select Period: “Efterår/Autumn” or “Forår/Spring”
Press: “ View Timetable”

Please be aware:
- The study administration allocates the students to the exercise classes according to the principles stated in the KUnet.
- If too many students have wished a specific class, students will be registered randomly at another class.
- It is not possible to change class after the second registration period has expired.
- If there is not enough registered students or available teachers, the exercise classes may be jointed.
- The student is not allowed to participate in an exercise class not registered.
- The teacher of the exercise class cannot correct assignments from other students than the registered students in the exercise class except with group work across the classes.
- All exercise classes will be taught in English.
- The schedule of the lectures and the exercise classes can be changed without the participants´ acceptance. If this happens you can see the new schedule in your personal timetable at KUnet, in the app myUCPH and through the links in the right side and the link above.
- It is the students´s own responsibility continuously throughout the study to stay informed about their study, their teaching, their schedule, their exams etc. through the curriculum of the study programme, the study pages at KUnet, student messages, the course description, the Digital Exam portal, Absalon, the personal schema at KUnet and myUCPH app etc.
  • Category
  • Hours
  • Lectures
  • 42
  • Class Instruction
  • 42
  • Preparation
  • 119
  • Exam
  • 3
  • Total
  • 206
Written
Oral
Individual
Collective

 

The students receive individual feedback at their mandatory assignments from the teaching assistants.

The lecturer gives collective oral feedback in the lectures.

Credit
7,5 ECTS
Type of assessment
Written examination, 3 hours under invigilation
as an ITX-exam in the exam venues of the university.

The exam assignment is in English and must be answered in English.

Changes due to Coronavirus:
In the event that COVID-19 restrictions may affect the conduction of the ITX-exams, the written exam and the re-sit exam will be changed to a 4 hours take-home exam with all aids. If done so, the changes will be announced in study messages at KUnet and in the Digital Exam portal.

The take-home exam is an individual exam and it is not allowed to communicate with any one about the exam assignment nor the solution at all. It is also prohibited to distribute data and other information at all. If this or alike actions happens, it will be regarded as cheating and plagiarism.
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Exam registration requirements

Uddate per 18th of November 2021:

To qualify for the exam the student must during the semester and not later than the given deadlines

  • hand in and have approved 3 out of 4 mandatory assignments.
  • hand in and have approved 2 out of 3 mandatory assignments.

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Aid

No aids allowed at the written ITX-exam.

 

If the ITX-exam is changed to a take-home exam due to COVID-19, the written take-home exam will be with all aids.

 

Information about allowed aids for the re-examination, please go to the section "Re-exam".

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Marking scale
7-point grading scale
Censorship form
No external censorship
at the written exam.
The written ITX-exam may be chosen for external assessment by random sample.
An oral re-examination may be with external assessment.
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Exam period

The regular exam takes place:

Autumn semester:

4 January 2022

 

Spring semester:

20 June 2022

 

Exam information:

The exact time and place will be available in Digital Exam from the middle of the semester.

The Department can change the exam to another type, day, time and place than announced. 

More information about examination, rules, aids etc. is available at Master(UK), Master(DK) and Bachelor(DK).

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Re-exam

The written reexam takes place:

Autumn:

10 February 2022

 

Spring:

15 August 2022

 

Information:

If few students register, it might change to 20 min. oral exam with 20 min. preparation time.

Written aids allowed during the preparation time. No aids allowed during the examination.

 

Due to COVID-19, the re-sit might change to 20 minutes oral ONLINE exam with all aids, without preparation time.

 

Exact type, day, time and place is available in Digital Exam February/August.

The Department can change to another type, day, time and place than announced.

More info: Master(UK), Master(DK) and Bachelor.

Criteria for exam assesment

Students are assessed on the extent to which they master the learning outcome for the course.

 

In order to obtain the top grade “12”, the student must with no or only a few minor weaknesses be able to demonstrate an excellent performance displaying a high level of command of all aspects of the relevant material and can make use of the knowledge, skills and competencies listed in the learning outcomes.

 

In order to obtain the passing grade “02”, the student must in a satisfactory way be able to demonstrate a minimal acceptable level of  the knowledge, skills and competencies listed in the learning outcomes.