Course - Macroeconomics I - SØK1021
SØK1021 - Macroeconomics I
About
New from the academic year 2024/2025
Examination arrangement
Examination arrangement: School exam
Grade: Letter grades
| Evaluation | Weighting | Duration | Grade deviation | Examination aids |
|---|---|---|---|---|
| School exam | 100/100 | 3 hours | C |
Course content
The course gives an introduction to basic macroeconomics with a main focus on business cycles. With the use of simple models, the relationships between important macroeconomic variables, such as consumption, investment, unemployment, inflation, interest rates, exchange rates and the trade balance, are analyzed. The course emphasizes (i) how economic policy, such as fiscal and monetary policy, affects the economy, and (ii) how changes in conditions that do not originate from national policy, such as changing business cycles or interest rates on the world market, affect the economy.
Learning outcome
Knowledge
You learn
- about the development of the Norwegian and the international economy
- essential macroeconomic concepts and relationships, as defined in the national accounts
- short run macroeconomic models relevant to the Norwegian economy; how monetary and fiscal policies affect activity levels, interest rates, exchange rates, trade balance, consumption and investment.
- about the relationship between the labor market and the rest of the economy, and about unemployment and inflation targeting
- about how openness between countries affects the economy and the effects of economic policies
- to relate theory to practical policy analyses, like the National Budget and the Monetary Policy Report
Skills
You should be able to
- use macroeconomic models to discuss the effects of economic policies and other shocks affecting the economy
- analyze the economic situation of an economy
- relate the economic theories to the development of the Norwegian and the international economy
- use macroeconomic theory to analyze how firms, households and the national economy are affected by changes in the economy and in economic policies
General competence
You should be able to
- follow economic reasoning related to the course in the public debate and professional reports
Learning methods and activities
2 hours of lectures every week and 2 hours of practical assignment every other week. The course has compulsory activity. Specific requirements will be announced at the beginning of the term.
Compulsory assignments
- Mandatory activity
Further on evaluation
Compulsory activity must be completed in the semester the course is taught. The approval also applies to later semesters.
Approved compulsory activity from SØK1000 Introduction to economics also applies to this course.
Recommended previous knowledge
None
Required previous knowledge
None
Course materials
Announced at the beginning of the term
Credit reductions
| Course code | Reduction | From | To |
|---|---|---|---|
| SØK1000 | 7.5 | AUTUMN 2024 |
No
Version: 1
Credits:
7.5 SP
Study level: Foundation courses, level I
Term no.: 1
Teaching semester: AUTUMN 2024
Language of instruction: Norwegian
Location: Trondheim
- Economics
- Social Sciences
Department with academic responsibility
Department of Economics
Examination
Examination arrangement: School exam
- Term Status code Evaluation Weighting Examination aids Date Time Examination system Room *
- Autumn ORD School exam 100/100 C INSPERA
-
Room Building Number of candidates - Spring ORD School exam 100/100 C INSPERA
-
Room Building Number of candidates
- * The location (room) for a written examination is published 3 days before examination date. If more than one room is listed, you will find your room at Studentweb.
For more information regarding registration for examination and examination procedures, see "Innsida - Exams"