PAST CORE COURSES

MA0405 MACROECONOMIC THEORY

Basic Information

• Location: Helsinki
• Time: Academic year 2004-2005
  • Autumn term: Macroeconomic Theory I: September 15 - November 10, 2004
  • Spring term: Macroeconomic Theory II: January 26 - April 6, 2005

The course is divided in two parts: Macroeconomic Theory I (autumn term) and Macroeconomic Theory II (spring term). In total the course includes 48 hours of lectures and 24 hours of exercises. Only those having passed the exercises can participate in the exams.

The course can be passed by taking two midterm exams or a final exam. Please note that the exams (both the midterm exams and the final exam) can only be taken by those who have solved a sufficient number of problems correctly (separately for part I and part II). In practise this means that at least one third of the problems have to be solved "showing good effort" so that the principles of solution are correct - mistakes in mechanical calculations are allowed, however.

Please note that the students' home departments are responsible for registering the grades according to their own requirements. FDPE gives the students, on request, a certificate of the courses passed within the programme.

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Teaching Staff

• Instructors: Professor Mikko Puhakka (University of Oulu and Bank of Finland): part I and Professor Erkki Koskela (University of Helsinki): part II
• Teaching assistant: Timo Vesala (University of Helsinki): part I and Juuso Vanhala (University of Helsinki): part II

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Topics

Topics covered in the course include:

• intertemporal macroeconomic theory
• overlapping generations model
• dynamic programming
• economic growth
• real business cycle theory
• open economy macroeconomics
• credibility of economic policies
• models of labour unions

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