Course - Foreign Exchange, Oil and Macroeconomic Policies - SØK3006
Foreign Exchange, Oil and Macroeconomic Policies
About
About the course
Course content
The course provides an in-depth analysis of theories of inflation targeting, foreign exchange markets and business cycles, and looks at effects of macroeconomic policies in a small open economy. The importance of the oil industry for the rest of the economy is also considered.
Learning outcome
Knowledge
You learn
- theoretical models for the functioning of markets for foreign exchange
- models of how foreign exchange markets interact with the rest of the economy
- how fiscal and monetary policy affects a small open economy
- what inflation targeting is, and models of optimal monetary policy
- models that distinguish between non-traded and traded sectors
- how the oil industry affects the economy
Skills
You should be able to
- understand and explain how the exchange rate is determined
- discuss different ways to set the interest rate and what consequences this has for main macroeconomic variables
- trace out the effects of different types of macroeconomic policy
- analyze how the central bank should change the interest rate when the economy is exposed to different economic shocks
- analyze how economic policy has different effects on non-traded and traded sectors
- discuss economic opportunities and challenges in an oil economy
General competence
You should be able to
- read and understand reports and research articles dealing with issues discussed in the course
Learning methods and activities
2 hours of lecture every week and 2 hours of exercise every other week. The course has compulsory activity. Specific requirements will be announced at the beginning of the term.
Compulsory assignments
- Approved term paper(s)/exercise(s)
Further on evaluation
Compulsory activity must be completed in the semester the course is taught. The approval also applies to later semesters.
Recommended previous knowledge
Bachelor's degree in Economics or the equivalent
Required previous knowledge
None
Course materials
Announced at the beginning of the term.
Credit reductions
| Course code | Reduction | From |
|---|---|---|
| SØK3003 | 7.5 sp | Autumn 2015 |
Subject areas
- Economics
- Social Sciences
Contact information
Course coordinator
Lecturers
Department with academic responsibility
Examination
Examination
Ordinary examination - Autumn 2025
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.