AØKA08006U Macroeconomics C

Volume 2014/2015
Education
BSc in Economics - compulsory
MSc in 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 Economics: Macro Aspects, Development Economics: Macro Aspects, and International Monetary Economics). 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 A, Macroeconomics B, Econometrics A and B.
2 hours of lecturing and 2 hours of excercises 1 to 2 times a week for 14 weeks

Time and room:
Time and room for the lectures and exercise classes: Please press the link under "Se skema" (See schedule). 15F means Spring (Forår) 2015, 14E means Autumn (Efterår) 2014.
It is available partly in English at this link:
https:/​/​skema.ku.dk/​KU1415/​reporting/​textspreadsheet?objectclass=module&idtype=id&identifier=43764&t=SWSCUST+module+textspreadsheet&days=1-5&weeks=27-52&periods=1-68&template=SWSCUST+module+textspreadsheet

The first lecture in the springsemester will be the 3.rd of February 2015 at 10.00 o´clock (AM). The exercise classes begins in week 7.
  • 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 test without any aids.
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 % external censorship
Exam period
For the Spring semester 2015: From 26 May to 28 June 2015 Written exam will be the 2.nd of June 2015 For the Autumn semester 2014: From 15 December 2014 to 25 January 2015 Written exam will be the 6 January 2015 The written exam takes place at Peter Bangsvej 36, 2000 Frederiksberg http://pc-eksamen.ku.dk/pc_exam More information is available at https://intranet.ku.dk/economics_ma/examination/Pages/default.aspx
Re-exam
Same as ordinary. But if only a few students have registered for the re-exam, the exam might change to an oral exams with a synopsis to be handed in. This means that the examination date also will change.
Criteria for exam assesment

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