Course syllabus - Macroeconomic Analysis

Objectives

The aim of this course is to introduce macroeconomic concepts and methods and  to use them to understand and analyze how the economy works on an aggregate level and how economic policy is implemented.

Learning outcomes

After completed course the student shall be able to
- describe the economic statistical data, where it is available and how it is organized, with an emphasis on the national accounts
- describe the GDP measure and related concepts in the national accounts
- perform simplified GDP-computations from the production, expenditure and income accounts
- describe the production technology and use it to determine equilibrium production and the distribution of national income in the long run
- describe how markets for goods, labor, capital, credits and currency interact in macroeconomic models to determine production, price level, unemployment, interest rates, and exchange rates
- compute central variables such as GDP in simple macroeconomic models
- describe the aims and means of economic policy- compute the effects of economic policy, particularly fiscal and monetary policy, in simple models.

Course content

Macroeconomics treats the working of the economy at the most aggregate level, i.e. a nation, a wider area of economic activity such as the EU, or even the world as a whole. The course introduces the basic macroeconomic concepts and measures of economic activity such as the national accounts for GDP, consumption, investment and international trade, and others for unemployment, inflation etc. These measures are used to analyze the development of the national and international economy. The long run analysis treats how technology and the available capital stock and labor force determine production and growth. The short run analysis focuses on  business cycles and their development.. Markets of special importance for macroeconomic performance, such as financial markets and the labor market are covered. International trade and international finance is treated with an emphasis on the perspective of a small open economy such as Sweden. Economic policy, fiscal as well as monetary, is discussed in terms of goals, means and effects.

Tuition

Lectures and applied demonstrations and exercises. The exercises, which focus on applying and solving economic models, may be held in connection with the lectures or as separate application seminars.

Requirements

English B, Mathematics C or English 6, Mathematics 3b/3c.

Examination

Examination (TEN1), 7.5 credits, marks Pass (G) or Pass with distinction (VG)

A student who has a certificate from MDU regarding a disability has the opportunity to submit a request for supportive measures during written examinations or other forms of examination, in accordance with the Rules and Regulations for Examinations at First-cycle and Second-cycle Level at Mälardalen University (2020/1655). It is the examiner who takes decisions on any supportive measures, based on what kind of certificate is issued, and in that case which measures are to be applied.

Suspicions of attempting to deceive in examinations (cheating) are reported to the Vice-Chancellor, in accordance with the Higher Education Ordinance, and are examined by the University’s Disciplinary Board. If the Disciplinary Board considers the student to be guilty of a disciplinary offence, the Board will take a decision on disciplinary action, which will be a warning or suspension.

Grade

Pass with distinction, Pass, Fail

Interim Regulations and Other Regulations

The course overlaps 7.5 credits with each of the previous courses in macroeconomics, NAA101 and NAA1112 and with NAA108 and NAA116.