Syllabus 2022 SH.pdfSyllabus 2022 SH.pdf
Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.


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.

Credits: 6

Schedule: 10.01.2022 - 23.02.2022

Teacher in charge (valid for whole curriculum period):

Teacher in charge (applies in this implementation): Seppo Honkapohja

Contact information for the course (applies in this implementation):

CEFR level (valid for whole curriculum period):

Language of instruction and studies (applies in this implementation):

Teaching language: English. Languages of study attainment: English


  • valid for whole curriculum period:

    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 for whole curriculum period:

    50% Exam
    50% Assignment

  • valid for whole curriculum period:

    Contact teaching 24h
    Exercises 14h
    Essay 35h
    Exam preparation and independent study 84 h
    Exam 3h 
    TOTAL 160h (ECTS)


Study Material
  • valid for whole curriculum period:

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


    Other readings to be assigned

Substitutes for Courses
SDG: Sustainable Development Goals

    8 Decent Work and Economic Growth


Further Information
  • valid for whole curriculum period:

    Teaching Period:

    2020-2021 Spring III

    2021-2022 Spring III

    Course Homepage:

    Registration for Courses: In the academic year 2021-2022, registration for courses will take place on Sisu ( instead of WebOodi.