GRA 6666 International Macroeconomics and Finance

GRA 6666 International Macroeconomics and Finance

Course code: 
GRA 6666
Course coordinator: 
Helene Onshuus
Course name in Norwegian: 
International Macroeconomics and Finance
Product category: 
MSc in Applied Economics
2023 Autumn
Active status: 
Level of study: 
Teaching language: 
Course type: 
One semester

This course offers an introduction to advanced open-economy macroeconomic and international finance.

Learning outcomes - Knowledge

The main objective is to develop a coherent framework to analyse macroeconomic variables of interest for international business and finance. Students will acquire analytical skills and applied knowledge about important topics in international macroeconomics. Special attention is paid to current account determination, the real exchange rate, and international financial markets.

Learning outcomes - Skills

Macroeonomics is crucial for any business student. The course enables students to understand macroeconomics developments in an international setting. Students will be able to analyze and discuss global imbalances and current account sustainability, the global saving glut hypothesis, and the twin deficits hypothesis.

Students will get tools to analyze exchange rates. What are the risks involved in carry trade? How do we expect the real exchange to develop as countries get richer? What are the gains from international portfolio diversification? These are important questions for international business and finance.

General Competence

Ability to critically evaluate popular theories and hypotheses about international macroeconomics and finance. The course enables students for further academic work. It gives an introduction to advanced international macroeconomics.

Course content

The course consists of three parts. The first part deals with current account determination. The second part introduces international finance and capital market integration, while the third part studies real exchange rates.

Teaching and learning activities

Both lectures and exercise seminars are provided. 

Software tools
No specified computer-based tools are required.
Additional information

Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class. 


All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have specific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.


Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Form of assessment:
Written submission
Exam code:
Grading scale:
Grading rules:
Internal examiner
Examination when next scheduled course
100Yes3 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Individual Written examination under supervision
Exam category:Submission
Form of assessment:Written submission
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Duration:3 Hour(s)
Comment:Written examination under supervision
Exam code: GRA66661
Grading scale:ECTS
Resit:Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
Student workload
24 Hour(s)
Digital resources
12 Hour(s)
Student's own work with learning resources
124 Hour(s)
Sum workload: 

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 6 ECTS credits corresponds to a workload of at least 160 hours.