Macroeconomic Theory

Knowledge

You should know

• the basic neoclassical growth model (Solow-type)
• overlapping generation models (Diamond-type)
• dynastic models (infinite horizon models Ramsey-type)
• consumption capital-asset pricing models
• real business cycle models
• traditional Keynesian models of fluctuations
• the modern theories of saving and investment behavior, of government deficits and debt, of unemployment and of the debate about the causes of business-cycles

Skills

You should be able to

• solve simple dynamic optimization problems both with and without uncertainty
• use intertemporal equilibrium models to discuss qualitatively the effects over time of exogenous shocks to the economy
• discuss the long run effects of fiscal policies as well as their effects on the business cycle

Competence

You should

• be able to read and understand project reports and journal articles that make use of the concepts and methods that are introduced in the course
• be able to make use of the course content in your own academic work, for example in analyses that are part of the master¿s thesis

Students who are admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in StudentWeb.

Students enrolled in other Master || chr(38) ||#39;s Degree Programmes can, on application, be admitted to the course if this is cleared by their own study programme.

International applicants, if you are not already enrolled as a student at UiO, please see our information about admission requirements and procedures for international applicants.

The examination in this course is not available for external candidates. Only students admitted to the course may sit for the examination.

Lectures: 4 hours per week in the first half of the semester, 2 hours per week in the second half.

Seminars: 2 hours per week through the second half of the semester.

There might occur weeks exempt from teaching

The examination will be a 3-hour written school exam.

You must have passed the compulsory activities in order to sit for the exam.

Previous exams and examiner guidelines

Exam papers with comments from examiner

No examination support material is allowed.

You can usually resit an exam, but the conditions depend on whether you had a valid reason for absence from the regular exam. Read more about resitting an exam.

The Department of Economics has passed following resolution for ECON-courses: It will no longer be possible for candidates to register for an exam in a lower level course after having passed exams in intermediate and advanced level courses in the same subject area (also where there are no pre-requisites that apply to the intermediate course). Further information can be found here.

Students who might wish to retake the exam later, are not guaranteed that the course is ever repeated with a similar reading list, nor that the exam arrangement will be the same.

Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.

The problem set will be given in English. Answers can be given in Norwegian, Swedish, Danish or in English. See § 6.4 i Forskrift om studier og eksamener ved Universitetet i Oslo .

Other

The course name has been changed from "Consumption, investment and pensions" to "Intertemporal macroeconomics" spring 2006.

You may request an explanation of your grades, and you may also appeal against your grades or make a complaint about formal examination errors. Read more about explanations and appeals.

Evaluation

Feedback from our students is essential to us in our efforts to ensure and further improve the high quality of our programmes and courses. All courses are subject to continuous evaluation. At regular intervals we also ask students on a particular course to participate in a more comprehensive, periodic evaluation of this course.

Overlapping courses

Core curriculum

David Romer: Advanced Macroeconomics, 4th ed, 2012. McGraw-Hill, Chapters 1, 2, 5, 6.1-6.4, 8,9.1-9.6, 10.1, 10.2, 10,4, |0.6-10.8, 12.1-12,5, 12.8-12.10 or corresponding chapters in earlier editions.

Dirk Krueger: Quantitative Macroeconomics: An Introduction, /studier/emner/sv/oekonomi/ECON4310/h13/pensumliste/krueger-2007.pdf.

Stephen Williamson: Notes on Macroeconomic Theory, 1999. Unpublished, University of Iowa. chapters 1-3, 5-6. http://www.artsci.wustl.edu/~swilliam/courses/notes06.pdf.

Additional literature

More material will be added later

If you have a disability or a health problem that entails significant inconvenience in an examination situation, you may be considered for special examination arrangements. Mothers who are breastfeeding may apply for extra time to complete the exam.

A student may sit this exam up to 3 times. If a student wishes to withdraw from the exam, s/he must do so in StudentWeb at least two weeks prior to the first day of the exam. Failure to do so will be counted as one of the three opportunities to sit the exam.