290008 Economic Policy

Details
Institute of Food and Resource Economics
Earliest Possible YearBSc. 2 year to BSc. 3 year
DurationOne block
 
Credits7.5 (ECTS)
Course LevelJoint BSc and MSc
Bachelorkursus for JØ-studerende. Fælleskursus for andre studieretninger.
 
ExaminationFinal Examination

written examination


Written Exam in Lecturehall

No aid allowed

Description of Examination: 4-hours written examination in course curriculum

Weight: 100%



13-point scale, external examiner

Dates of Exam:
05 November 2005
 
Requirement For Attending ExamPresentation of project work
 
Organisation of TeachingLectures, excercises, group works.
 
Block PlacementBlock 1
Week Structure: A
 
Teaching LanguageEnglish
 
Optional PrerequisitesSamfundsøkonomi
 
Areas of Competence the Course Will Address
Basic Science:
After this course the students will understand macroeconomics and macroeconomic policies presented in the basic macroeconomic course. Along with deepening the students' knowledge of various models and policy instruments and limitations, the course will allow them to understand the chains of effects of policy measures and to use the analytical tools to navigate their ways in actual problems facing national and international economies. T

Applied Science:
The empirical macroeconomic issues will be primarily withdrawn from the performance of as well as the actual problems facing the Danish economy and other industrialized economies. Special attention will be paid to understand the economic problems and issues related to the EU's integration process.

Ethics & Values:
After the course the student is aware of the rationale and values of macroeconomic theory.
 
Course Objectives
The aim of the course is threefold: to equip students with knowledge of various macroeconomic theories and models for short- and medium run analysis; to demonstrate and emphasis the interlinks between the micro and macro economic behavioral relations, and to use the theoretical knowledge in analyzing and shedding light on actual macroeconomic problems and controversies in the economy.
 
Course Contents
The course deals, among other things, with the following topics:

1. Stabilization, Expectations and Business Cycles:
- the IS-LM framework for the aggregate demand,
- the role of expectations and formation of expectations,
- theories of consumption, saving, and investments,
- the Labour market and wage rate rigidity,
- inflation and unemployment,
- fiscal policy and intertemporal budget constraints,
- theories of business cycle.

2. Exchange Rates and Economic Integration:
- fiscal and monetary policy in the open economy,
- theories of exchange rate and overshooting,
- Currency regimes and the international monetary system,
- Optimum currency areas,
- Central banks, monetary targets and the European Monetary Union

3) Macroeconomic Modelling and Forecasting
 
Teaching And Learning Methods
Lectures, excercises, group works, reading. library search and open discussion of current economic policy issues.
 
Course Litterature
Burda M. & C. Wyplosz (2001): Macroeconomic- A European Text. 3ed edition. Oxford University Press, 2001.
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. (Selected issues).
ECB (2004): The Monetary Policy of the ECB. Fankfut.
 
Course Coordinator
Niels Kærgård, nik@life.ku.dk, Institute of Food and Resource Economics/International Economics and Policy Division, Phone: 35332264
 
Study Board
Study Committee NSN
 
Course Scope
lectures40
theoretical exercises42
project work42
preparation78
examination4

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