GRA 8077 International Macroeconomics

APPLIES TO ACADEMIC YEAR 2012/2013

GRA 8077 International Macroeconomics

Responsible for the course
Arne Jon Isachsen

Department
Department of Economics

Term
According to study plan

ECTS Credits
5

Language of instruction
English

Introduction
Macroeconomics is about economic growth, business cycles, inflation, unemployment, exchange rates and capital flows, and monetary and fiscal policies. From a business perspective in particular, it is important to understand the mechanisms generating booms and recessions, and the way monetary and fiscal policies affect interest rates, exchange rates and other macroeconomic variables. Also, room is made for the recent experience of financial crises and of China's rise. Events over the last three years have made these topics more fascinating than some like to admit.


Learning outcome
The purpose of this course is to make you a more able and interested reader of Financial Times. In order to succeed important concepts and relations need to be understood. Then, meaningful discussions can take place.


Prerequisites
The EMBA prerequisities in general

Compulsory reading
Books:
Mankiw, N. Gregory. 2009. Macroeconomics. 7th ed. Worth Publisher. 200-300 sider

Articles:
Bernanke, Ben.. 2005. The Global Saving Glut and the U.S. Current Account Deficit. Speech. Board of Governors of the Federal Reserve System.. http://ideas.repec.org/a/fip/fedgsq/y2005x19.html
Bordo, Michael. Gold Standard. http://www.econlib.org/library/Enc/GoldStandard.html

Recommended reading

Course outline

  • On Macroeconomics
  • Money and Inflation
  • Financial Crises
  • The Open Economy
  • The European Monetary Union (EMU)
  • Inflation Targeting
  • Economic Growth
  • China and the World Economy
  • Global Growth and Global Imbalances

Computer-based tools
None

Learning process and workload
This course will involve a combination of lectures and discussions. Each class session will be conducted in a highly
interactive mode, where students feel encouraged not only to ask questions, but also to bring their own ideas and experiences to class discussions. An optimal and continuous learning process can be achieved by actively sharing your knowledge, experiences, and thoughts through effective communication.


Examination
An individual hand-in (3—6 pages) counts 40% of final grade and a group hand-in on a country analysis (12-15 pages) counts 60% of finale grade.

Examination code(s)
GRA 80771 - Process evaluation; accounts for 100 % to pass the program GRA 8077, 5 ECTS credits

The course is a part of the Executive Master of Business Administration Program and all evaluations must be passed in order to obtain a certificate.

Examination support materials


Re-sit examination
Re-takes are only possible at the next time a course will be held. When course evaluation consists of class participation or process elements, the whole course must me re-evaluated when a student wants to retake a exam. Retake examinations entail an extra examination fee.

Additional information
For administrative reasons the students are registered at the program code GRA 8078 in the first semester. In the second semester they are registered at the program code GRA 8079 .

The individual and group hand-in shall be delivered with fonts: Times New Roman, double-spaced, 12-pt font.

Semesters

Translations