| Institute of Food and Resource Economics | |||||||||||
| Earliest Possible Year | |||||||||||
| Duration | 1 semester | ||||||||||
| Credits | 6 (ECTS) | ||||||||||
| Course Level | Joint BSc and MSc (Only at BSc level for the JØ and S students) | ||||||||||
| Examination | written examination No aid allowed Description of Examination: 13-point scale, external examiner Dates of Exam: | ||||||||||
| Organisation of Teaching | Lectures: 1 module pr. week | ||||||||||
| Block Placement | E3, fall | ||||||||||
| Teaching Language | English | ||||||||||
| Optional Prerequisites | 096718 Economics eller det gamle Mikro- og makroøkonomi (095218) (095218) | ||||||||||
| Course Objectives | |||||||||||
| Students will be equipped with basic understanding of how actual economy works, how macro economic variables affect each other and how various national economies interact. Students will become familiar with the various tools of fiscal and monetary policies,with respect to their potential effects and limitations. On successful completion the course students will be able to work out their own analyses and to formulate their own ideas about various economic policies. | |||||||||||
| Course Contents | |||||||||||
| The central themes in this course are the scope and limits of the economic policy: what do we know about how economies work? The key-words include: stabilization policies in the Neoclassical, Keynesian, and New-Classical traditions, unemployment and labour market, public finance, what targets for the central bank, and theories of exchange rates and Balance of Payments. Special importance is assigned to the following: * International economic interdependency and policy coordination. * Fiscal and monetary policies under various exchange rate regimes. * Expectations and their role in stabilization policies, wage-settlement in the labour market, and credibility of public policies. This course is an intermediary course, which builds upon the basic macroeconomic principles introduced in the first-semester course Economics 1 (or Micro and Macroeconomics, 095218). Along with deepening the students' knowledge of various models and policy controversies, the course allows the students to understand the chains of effects of policy measures and encourages them to use the analytical tools to navigate their ways in actual problems facing national and international economies. The empirical side of the course will be mainly based on the performance of the Danish economy. However, special attention will be paid to actual international economic events taking place during the span of the course. Also aspects related to the performance of leading industrialized countries and the particular issues raised in connection with the EU's economic integration efforts, will be in focus. | |||||||||||
| Teaching And Learning Methods | |||||||||||
| Although references to empirical aspects will be intensively made throughout the course, the main body of the empirical analysis will be concentrated in special sessions devoted to particular and up-to-date policy matter, national and international. These will be discussion and analysis sessions where students will be expected and encouraged to participate actively. Special reading material for these discussion sessions will be identified and the students will play a role in selecting the issues which will be subject for the discussion. The issues could include, for example, the future of the Scandinavian welfare model, globalisation and control of capital movements, the relevance of macroeconomic forecasting models, the American vs. European labour markets, the Euro vs. the Dollar, etc. | |||||||||||
| Course Litterature | |||||||||||
| Cobham, D. (1998): Macroeconomics Economic Analysis - An Intermediate Text. 2nd edition. Longman, London. Kanafani, N.(1995):The Macroeconomic Framework for Stabilization Policies. Nectar- Natura: European Community Training Programme for Agricultural Universities in Southern Regions: http://ariadne.natura.agro.ucl.ac.be/servlet/ariadne.servlets.StudentLogin. Sawyer, J.(1998):Macroeconomic Theory: Keynesian and New Walrasian Models. Harvester, London. Det Økonomisk Råd: Danish Economy. (Latest issue). | |||||||||||
| Course Coordinator | |||||||||||
| Noman Kanafani, kan@life.ku.dk, Institute of Food and Resource Economics/International Economics and Policy Division, Phone: 35332269 | |||||||||||
| Study Board | |||||||||||
| Study Committee NSN | |||||||||||
| Course Scope | |||||||||||
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