Course content

This course gives an overview of basic macroeconomic concepts and methods that are necessary ingredients in many types of managerial decisions. The course introduces key concepts such as the GDP, various measures of inflation and unemployment, interest rates, and exchange rate. Building on this foundation it analyzes various aspects of macroeconomics: aggregate supply and demand, international financial markets, cyclical fluctuations, policy analysis, and forecasting.

Learning outcome

Knowledge

You learn

• basic macroeconomic concepts such as GDP, unemployment, inflation, interest rates and exchange rates
• about business cycles
• short run macroeconomic models; how fiscal and monetary policies affect activity levels, interest rates, exchange rates, trade, consumption and investment
• about international financial markets
• about economic forecasting
• about important macroeconomic crises, including the financial crisis and public debt dynamics

Skills

You should be able to

• use macroeconomic models to discuss how economic policies and other shocks will affect the economy, in particular how firms are affected
• analyze the economic situation of an economy
• relate the economic theories to the development of the Norwegian and the international economy

General competence

You should be able to

• see how economic trends and events will affect the firm's environments in the near future, and thus be part of your investment decisions and strategic planning

Learning methods and activities

2 hours of lectures every week, and 2 hours of practical assignments every other week. Compulsory activity: Approved term paper(s)/ exercise(s). Specific requirements will be announced at the beginning of the term. Papers ca be written as a joint project by up to four students.

Compulsory assignments

• Approved term paper(s)/exercise(s)

Recommended previous knowledge

None

Required previous knowledge

None

Course materials

Announced at the beginning of the term.

Credit reductions