course-details-portlet

SØK1021

Macroeconomics I

Credits 7.5
Level Foundation courses, level I
Course start Autumn 2025
Duration 1 semester
Language of instruction Norwegian
Location Trondheim
Examination arrangement School exam

About

About the course

Course content

The course gives an introduction to basic macroeconomics with a main focus on business cycles. With the use of simple models, the relationships between important macroeconomic variables, such as consumption, investment, unemployment, inflation, interest rates, exchange rates and the trade balance, are analyzed. The course emphasizes (i) how economic policy, such as fiscal and monetary policy, affects the economy, and (ii) how changes in conditions that do not originate from national policy, such as changing business cycles or interest rates on the world market, affect the economy.

Learning outcome

Knowledge:

Students should

  • Be able to explain the developments in the Norwegian and international economy
  • Define key macroeconomic concepts as they are defined in the national accounts and explain the accounting relationships in the national accounts
  • Discuss central macroeconomic models relevant to the Norwegian economy
  • Understand how monetary and fiscal policy impact activity levels, interest rates, exchange rates, trade balance, consumption, and investment
  • Comprehend the relationship between the labor market and the rest of the economy, as well as unemployment and inflation targeting
  • Analyze how openness to trade and capital flows between countries affects the economy and the effects of economic policies
  • Be able to relate macroeconomic topics to other subjects included in the bachelor’s program, such as business economics and microeconomics
  • Understand how businesses can utilize macroeconomic knowledge.

Skills:

Upon completing the course, students should

  • Understand key macroeconomic relationships.
  • Be able to analyze the prevailing macroeconomic situation
  • Possess knowledge of factors influencing the real economy and insight into how economic policies can be formulated.
  • Utilize macroeconomic models to discuss the effects of economic policies and other influences to which the economy is subjected.
  • Connect economic theories to developments in the Norwegian and international economies.
  • Use macroeconomic theory to analyze how businesses, households, and the national economy are affected by changes in the economy and economic policies.
  • Apply knowledge of macroeconomics to enhance business economic outcomes.

General competence:

  • Competent in asking critical and analytically sound about macroeconomic developments and see the relevance for the individual company. Follow macroeconomic reasoning related to the subject, for example in connection with public debate and professional investigations. Show how macroeconomic development (growth, interest rate and exchange rate) as well as economic policy affect the real economy and the economic choices within companies.

Learning methods and activities

2 hours of lectures every week and 2 hours of practical assignment every other week. The course has compulsory activity. Specific requirements will be announced at the beginning of the term.

Compulsory assignments

  • Mandatory activity

Further on evaluation

Mandatory coursework requirements are specified at the start of the course. The coursework must be approved to be eligible to take the exam and must be completed in the semester the course is taught. Approved mandatory coursework does not need to be resubmitted for subsequent exam attempts.

Approved mandatory activities in SØK1000 Introduction to Economics are transferred to this course.

A 4-hour individual written exam counts for 100% of the grade. Grading scale A-F.

The course has exams in the regular exam periods in autumn and spring, and does not have a re-sit exam.

Permitted aids during the exam: Approved calculator according to NTNU's aid code B-D "specified simple calculator". Other calculators allowed in the course are: Casio FC-100V and Texas Instruments - BAII Plus.

Required previous knowledge

None

Course materials

Announced at the beginning of the term

Credit reductions

Course code Reduction From
SØK1000 7.5 sp Autumn 2024
SMØ2001 7.5 sp Autumn 2025
This course has academic overlap with the courses in the table above. If you take overlapping courses, you will receive a credit reduction in the course where you have the lowest grade. If the grades are the same, the reduction will be applied to the course completed most recently.

Subject areas

  • Economics
  • Social Sciences

Contact information

Course coordinator

Department with academic responsibility

Department of Economics

Examination

Examination

Examination arrangement: School exam
Grade: Letter grades

Ordinary examination - Autumn 2025

School exam
Weighting 100/100 Examination aids Code D Date 2025-11-26 Time 09:00 Duration 4 hours Exam system Inspera Assessment
Place and room for school exam

The specified room can be changed and the final location will be ready no later than 3 days before the exam. You can find your room location on Studentweb.

Sluppenvegen 14
Room SL311 grønn sone
68 candidates
Room SL310 blå sone
9 candidates
Room SL430
38 candidates
Room SL311 lyseblå sone
16 candidates
Room SL210
51 candidates

Ordinary examination - Spring 2026

School exam
Weighting 100/100 Examination aids Code D Duration 4 hours Exam system Inspera Assessment Place and room Not specified yet.