| Ansvarligt institut | Fødevareøkonomisk Institut | ||||||||||||
| English Title | Macro Economics | ||||||||||||
| Tidligst mulig placering | Bachelor 1. år | ||||||||||||
| Varighed | En blok | ||||||||||||
| Pointværdi | 7.5 (ECTS) | ||||||||||||
| Kursustype | Bachelorkursus | ||||||||||||
| Eksamen | Sluteksamen skriftlig prøve Skriftlig auditorieeksamen uden hjælpemidler Beskrivelse af eksamen: 4-hour written examination in course curriculum Vægtning: 100% 7-trinsskala, ingen censur Eksamensdatoer: 06. april 2011 | ||||||||||||
| Rammer for Undervisning | Lectures, exercises, assignments, group work and group discussion | ||||||||||||
| Blokplacering | Block 3 Ugestruktur: C | ||||||||||||
| Undervisningssprog | Engelsk | ||||||||||||
| Begrænset deltagerantal | None | ||||||||||||
| Kursusindhold | |||||||||||||
| This is a course on macroeconomics, both as theoretical discipline and as applied policy. The topics addressed in the course include the national accounts, the determination of national income in an open and closed economy, consumption and investment functions, money market, including money demand and money supply functions and consistency of product and money markets, labour market and its interaction with the other markets, inflation and inflationary theories, the foreign exchange market and its interaction with other markets, monetary and fiscal policy under fixed and floating exchange rates, various exchange rate regimes and optimal currency areas. | |||||||||||||
| Undervisningsform | |||||||||||||
| The instruction consists of a combination of lectures (which review the basic theories and models) exercises, case studies, text reading and discussion | |||||||||||||
| Målbeskrivelse | |||||||||||||
| The course provides a broad introduction to key and basic socioeconomic issues. The course gives basic knowledge of macroeconomic theories, which play a role in public debate and condition the economic environment within which producers and consumers act and interact. The course may be taken as an overall introduction to the basic socio-economic issues in a country and/or as a foundation for further study of economics. By introducing key macroeconomic concepts and fundamental macroeconomic models the course gives the students the necessary tools to analyze the consequences of internal and external chocks on economic structure and on the behaviour of different economic agents in a country. This is achieved by the deployment of relatively simple economic models with stress on the understanding the inter-relationship among different variables and intuitive economic thinking. The course also addresses the state and problems facing the Danish economy, as well as other Western economies, giving better understanding of dilemmas and choices confronting policy-makers when designing and implementing economic policies in the real world. The course covers wide spectrum of economic issues including the following: What determine the total output and employment of a community? Why prices keep rising? What is the role of foreign trade in an economy? Is the balance of payments in crises? What is behind the regular economic fluctuations and swings in economic variables such as employment? What is the role of the central bank and commercial banks in economic life? What is the effect of interest rate and exchange rate on economic activities? What are the fiscal and monetary policies, and can the state really manage the economy? Can government affect the unemployment rates or balance of payments, determine interest or exchange rates and should it even try that at all? After completing the course the students should be able to: Knowledge: - Acquire knowledge of various socio-economic issues. - Acquire well-founded knowledge about the Danish economy. Skills: - Define key national accounts concepts. - Have understanding of the economic cycle. - Construct simple models for a closed economy in the short-run. - Construct simple models for open and closed economy in the long-run. - Analyze alternative economic policy in the models. - Analyze the effect of exogenous chocks on an economy. Competencies: - Evaluate and discuss economic policy recommendations of various models. - Set the use of economic models into perspective with full awareness of their strengths and weaknesses. | |||||||||||||
| Litteraturhenvisninger | |||||||||||||
| M. Mankiw and N. Taylor (2006): Economics. Det Økonomisk Råd: Danish Economy (Selected issues) Danmarks Statistik: Statistisk Tiåroversigt (seneste udgave) Selected articles and paper addressing topical (national, European and international )economic issues. | |||||||||||||
| Kursusansvarlig | |||||||||||||
| Per Svejstrup Hansen, psh@foi.dk, Fødevareøkonomisk Institut/Faggruppe for International Økonomi og Politik, Tlf: 353-32271 | |||||||||||||
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