APPLIES TO ACADEMIC YEAR 2012/2013
SØK 1366 Macroeconomics II|
Responsible for the course
Department of Economics
According to study plan
Language of instruction
The main theme of this intermediate course is monetary and fiscal policy in a small open economy like the Norwegian. Participants will also learn about the macroeconomic development of the Norwegian economy after 1980, economic effects of spending government petroleum revenues, the flexible inflation targeting framework of monetary policy, as well as long-term fiscal policy issues related to population ageing, pension reforms and the fiscal sustainability of welfare states.
Other related themes which are important in this course are financial instability and government debt crises.
After completing the course, students will:
After taking this course the students should be ethically conscious about the conflicts of interest and inherent goal conflicts and trade-offs in macroeconomic policy. They should be able to look at a macroeconomic policy issue from different perspectives in regard to the interests of different groups in society. They should also have developed a critical attitude making them conscious of the difference between political ambitions behind announcements of goals and the real effects of macroeconomic policies in practice.
This course builds on 1201 Macroeconomics I, and therefore the prior knowledge of mathematics, statistics, microeconomics and business as Macroeconomics I requires.
Steigum, Erling. 2004. Moderne makroøkonomi. Gyldendal akademisk. kapittel 10-14 (190 sider)
Røisland, Ø. og T. Sveen. 2005. Pengepolitikk under et inflasjonsmål. Norsk økonomisk tidsskrift. 16-38
Steigum, Erling. 2006. Aktivabobler - kan og bør myndighetene gjøre noe?. Magma. Nr. 1. 57-67
Steigum, Erling. 2006. Den keynesianske revolusjonen 70 år etter : et tilbakeblikk. Økonomisk forum. Nr. 6. 18-26
Steigum, Erling. 2008. Befolkningsaldring, pensjonsreformer og realøkonomi. Samfunnsøkonomen. Nr. 6 og 7
Steigum, Erling. 2009. The boom and bust cycle in Norway. I: Jonung, L., J. Kiander og P. Vartia, red.: The Great financial crisis in Finland and Sweden. Edward Elgar. kapittel 7 (pp. 202-244)
Steigum, Erling. 2010. Norsk økonomi etter 1980 : fra krise til suksess. Praktisk økonomi og finans. Nr. 3. 9-15
OECD. 2010. OECD Economic Surveys: Norway 2010. 145 sider
Ferguson, Niall. 2008. The ascent of money : a financial history of the world. The Penguin Press. 404 sider
Learning process and workload
The course consists of 36 hours of lectures and 6 hours of plenary exercises.
Seven sets of coursework requirements will be posted on It’learning. Five of these have to be approved in order for the student to be allowed to take the final exam. Feedback will be given both electronically and in class. Information about dead lines will be given at the start of the term.
Recommended workload in hours
The students must get five out of the seven assignments approved in order to take the written exam.
The course is concluded by a five-hour individual written exam.
SØK 13661 - Written exam accounts for 100% of the final grade in SØK 1366 - Macroeconomics - 7.5 credits.
Examination support materials
BI-defined exam calculator. TEXAS INSTRUMENTS BA II Plus™
Exam aids at written examinations are explained under exam information in our web-based Student handbook. Please note use of calculator and dictionary. https://at.bi.no/EN/Pages/Exa_Hjelpemidler-til-eksamen
A re-sit examination is offered every term.
Students that have not got approved five out of seven assignments are not allowed to take the exam. This means that they have to re-take the entire course later. Students that have not passed the written examination or who wish to improve their grade can take the re-sit examination when the next scheduled examination is offered.
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