Credits: 6

Schedule: 07.01.2020 - 21.02.2020

Teacher in charge (valid 01.08.2018-31.07.2020): 

Seppo Honkapohja

Teaching Period (valid 01.08.2018-31.07.2020): 

III Spring (2018-2019), Töölö campus

III Spring (2019-2020), Otaniemi campus

Learning Outcomes (valid 01.08.2018-31.07.2020): 

The course develops central areas of macroeconomic theory that are useful for analysis and discussion of policy making. The policy topics covered include foundations of unconventional monetary policies e.g. quantitative easing, the role of financial markets in the recent crisis, current problems and topics in the Euro area and issues in long-term economic growth. Students learn the motivations for policy analysis, become familiar with current policy concerns and acquire analytical skills for assessing these problems.

Content (valid 01.08.2018-31.07.2020): 

Formulation and use of New Keynesian models for policy making and analysis, role of financial and labor markets in macroeconomic fluctuations, the Great Recession and the problem of very low interest rates, theory of fiscal and monetary policy, analysis of long-term growth and development.

Assessment Methods and Criteria (valid 01.08.2018-31.07.2020): 

50% Exam
50% Assignment

Workload (valid 01.08.2018-31.07.2020): 

Contact teaching 24h
Exercises 14h
Essay 35h
Exam preparation and independent study 84 h
Exam 3h 

Study Material (valid 01.08.2018-31.07.2020): 

Main text: Carlin-Soskice: Macroeconomics: Institutions, Instability, and the Financial System


Other readings to be assigned

Course Homepage (valid 01.08.2018-31.07.2020):

Prerequisites (valid 01.08.2018-31.07.2020): 

Intermediate courses in mathematical methods for economics and in econometrics

Grading Scale (valid 01.08.2018-31.07.2020): 

0 - 5

Registration for Courses (valid 01.08.2018-31.07.2020): 

For course and re-exam via WebOodi


Registration and further information