AU kursuskatalog arkiv

3505: Macro 1 ( efterår 2010 - 10 ECTS )

Rammer for udbud

• Uddannelsessprog: engelsk
• Niveau:   COURSE LEVEL: Optional BSc and MSc course  
• Semester/kvarter:  SEMESTER FOR WHICH THE COURSE DESCRIPTION APPLIES: Autumn 2010  
• Timer per uge:   NUMBER OF HOURS PER WEEK: 4 lectures and 1 tutorial per week  
• Deltagerbegrænsning: None  
• Undervisningssted: Århus
• Hovedområde: Det Samfundsvidenskabelige Fakultet
• Udbud ID: 23398

Formål

Learning Objectives:

The aim is that the student through this course becomes able to
• formulate and analyze models of allocation over time
• formulate and analyze intertemporal models with utility maximizing agents planning subject to infinite or finite (overlapping generations) time horizons
• formulate and analyze models of business cycle fluctuations
• formulate and analyze equilibrium models of nominal rigidities and unemployment
• apply the modeling frameworks/techniques covered in the course to analyze a concrete problem

Indhold

Course description:

The course introduces the students to advanced macroeconomics. The first part of the course considers long-run aspects of the macro economy based on models with intertemporally optimizing agents. The models covered include traditional deterministic general equilibrium models on production, consumption and capital accumulation as the Ramsey model, as well as overlapping generation models. A stochastic environment will be introduced when considering consumption decisions of households and investment decisions of firms in partial equilibrium models. The second part of the course covers more short-run aspects using both real business cycle models and more Keynesian inspired theories of nominal rigidities and unemployment.

Course subject areas:
• Theories of economic growth.
• Intertemporal models of consumption and investment behavior.
• Real business cycle theory.
• Traditional Keynesian theories of fluctuations.
• Incomplete nominal adjustment.
• Labour markets and unemployment.

Faglige forudsætninger

REQUIRED COURSES (progression): 2635: Mathematics - Dynamic Analysis and 2420: Microeconomic Theory

NB: In the autumn 2010 semester it is not possible to take Macro 1 concurrently with Macro 2

Underviser

LECTURER: Bo Sandemann Rasmussen

Undervisnings- og arbejdsform

 TEACHING METHOD: Lectures (4 weekly lectures for 12 weeks) and exercise classes.

TEACHING LANGUAGE: English

Litteratur

• Romer, D. (2006): Advanced Macroeconomics, 3rd edition, McGraw-Hill, chs. 2 and 4-9 (approx. 250 pages).
• Heijdra, B.J. (2009): "Foundations of Modern Macroeconomics, 2nd edition, Oxford University Press, chs. 6-8 and 13-15 (approx. 250 pages).
• Lecture notes and additional material (max 100 pages).

Total number of pages: approx. 600 pages.

Studieordning og bedømmelse

Bacheloruddannelsen i økonomi

• Skriftlig, bedømt efter 7-skala med intern censur

Grundfaget i erhvervsøkonomi

• Skriftlig, bedømt efter 7-skala med intern censur

FORM OF ASSESSMENT: 4 hours written exam

EXAMINATION AIDS ALLOWED: None