GRA 8351 International Macroeconomics and Geopolitics
GRA 8351 International Macroeconomics and Geopolitics
Macroeconomics examines the forces that shape economic growth, business cycles, inflation, unemployment, exchange rates, capital flows, commodity prices, and the design of monetary and fiscal policy. For decision-makers, understanding the mechanisms behind booms and recessions, and how policy interventions influence interest rates, exchange rates, and broader financial conditions in both resource-rich and resource-poor economies, is essential. Recent global events have underscored how tightly intertwined international macroeconomic dynamics and geopolitical developments have become, making these issues more relevant than ever. The goal of this course is to develop a structured understanding of these mechanisms and how they shape the evolution of the global economic environment. The course adopts a strongly applied perspective. After building a solid theoretical foundation, it focuses on the analysis of macroeconomic data and the interpretation of recent policy reports, newspaper coverage, and official communications from key economic institutions.
By the end of the course, students will be able to:
- Analyze and assess the key theoretical and empirical determinants of economic growth, business cycles, inflation, unemployment, exchange-rate dynamics, and international capital flows, including their interactions.
- Critically evaluate the transmission mechanisms of monetary and fiscal policy in closed and open economies, with particular attention to policy trade-offs.
- Demonstrate advanced understanding of the macroeconomic implications of global shocks, financial instability, and geopolitical developments, and critically assess the specific vulnerabilities of resource-rich economies to commodity-price cycles.
- Analyze key time-series properties of macroeconomic data, including trends, cycles, persistence, and volatility, and assess how these characteristics affect economic interpretation and empirical inference.
By the end of the course, students will be able to:
- Interpret macroeconomic indicators and assess their relevance for strategic business and policy decisions.
- Apply macroeconomic models to evaluate the effects of policy choices, global shocks, and geopolitical risks.
- Employ appropriate time-series methods to analyze macroeconomic data, identify underlying patterns and structural changes, and support evidence-based economic assessments.
- Conduct independent and structured analyses of country-level macroeconomic conditions and financial vulnerabilities.
- Formulate well-reasoned evidence-based recommendations for firms or institutions operating in an uncertain international economic environment.
By the end of the course, students will be able to:
- Demonstrate a critical understanding of how global macroeconomic trends and geopolitical developments influence strategic decision-making.
- Communicate complex macroeconomic and geopolitical insights clearly to diverse professional audiences.
- Exercise informed judgment under uncertainty by integrating economic analysis with broader contextual awareness.
The course will cover the following topics:
- Core international macroeconomic frameworks: Economic growth, productivity, long-run income dynamics, business cycles, and the role of expectations and financial markets.
- Inflation, labour markets, and stabilization policy: Drivers of inflation, unemployment dynamics, and the design and transmission of monetary and fiscal policy.
- Open-economy macroeconomics: Exchange-rate determination, resource abundance, and the macroeconomic implications of global trade and capital flows.
- Financial crises and global spillovers: Mechanisms behind currency, banking, and sovereign debt crises; channels of international transmission; and the role of institutions such as the IMF, ECB, and Federal Reserve.
- Geopolitics and the global economy: Economic fragmentation, tariffs, and supply-chain reconfiguration.
- Applied macroeconomic analysis: Introduction to simple time-series tools for interpreting macroeconomic data (trends, cycles, volatility) combined with case studies on contemporary macroeconomic and geopolitical challenges.
1 ECTS credit corresponds to a workload of 26-30 hours.
The course is conducted through a total of 24 hours of lectures.
Software tools: Excel, possible some software codes (freeware).
Students will be introduced to key AI tools that are relevant to the subject. The students also apply AI-based methods to analyze data and develop simple models that enable the study of patterns, the generation of insights, and the support of evidence-based decision-making
The course is a part of a full EMBA programme and examination in all courses must be passed in order to obtain a certificate.
In all BI Executive courses and programmes, there is a mutual requirement for the student and the course responsible regarding the involvement of the student's experience in the planning and implementation of courses, modules and programmes. This means that the student has the right and duty to get involved with their own knowledge and practice relevance, through the active sharing of their relevant experience and knowledge.
Granted admission to the EMBA programme. Please consult our student regulations.
Disclaimer
Changes in exam type can be made until the course starts. In addition, unforeseen events or external conditions may call for deviations in teaching and exams.
| Assessments |
|---|
Exam category: Submission Form of assessment: Submission other than PDF Exam/hand-in semester: Second Semester Weight: 100 Grouping: Group (2 - 3) Duration: 4 Week(s) Exam code: GRA 83511 Grading scale: ECTS Resit: Examination when next scheduled course |
| Activity | Duration | Comment |
|---|---|---|
Teaching | 24 Hour(s) | |
Prepare for teaching | 16 Hour(s) | |
Student's own work with learning resources | 49 Hour(s) | |
Examination | 10 Hour(s) |
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 3 ECTS credit corresponds to a workload of at least 80 hours.
Each group is responsible for recording and uploading the oral discussion on Wiseflow.