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ECON 3410, International Macro and Finance

ECON 3410, International Macro and Finance. Overview, spring 2004. Course pages on the internet:. http://www.uio.no/studier/emner/sv/oekonomi/ECON4410/v04/ Time and place, detailed reading list, Official announcements of examination dates will be posted here

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ECON 3410, International Macro and Finance

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  1. ECON 3410, International Macro and Finance Overview, spring 2004

  2. Course pages on the internet: • http://www.uio.no/studier/emner/sv/oekonomi/ECON4410/v04/ • Time and place, detailed reading list, • Official announcements of examination dates will be posted here • Click Lecture notes and handoutsto attain the work page of the course. • Lecture plan • Lecture notes, data, • Copies of slides in pdf format • etc

  3. The seminars • The seminars start in in week 5 (last week of January) • The exercise set will be available from the internet Monday 21. January. • The exercises will signal some of the essential learning objectives.

  4. The reading list See course page for details • Burda, M. and C. Wyplosz: Macroeconomics. A European Text,third edition. Oxford University Press (2001), Chap 9, 12-13, 15-17 and 19-20. • A lecture note on Dynamic models. See home page: http://folk.uio.no/rnymoen/rnyteach.html • Rødseth, A: Open Economy Macroeconomics. Cambridge University Press (2000). Chap. 1,3.1, 3.4, 10.1. • DeGrauwe, P : Economics of Monetary Union. • The chapter by A. Rødseth, in Christiansen A. B, and J. F Qvigstad (eds) : Choosing a Monetary Policy Target. Scandinavian University Press (1997)

  5. How do we approach the main books? B&W: Lectures will be critical and research-based: • Why are the issues and topics of the book important • What are the strengths and weaknesses of the analysis in the book (i.e., “the models”). OEM: Lectures will aim to help learning the book’s approach to the modelling of the market for foreign exchange DeGrauve: Here the aim is to get an overview of main topics and lines of argument in the book. Mainly “self-study”.

  6. The topics of the course • Introduction to dynamic models • Wage and price setting • Models of inflation and the macroeconomy • Financial markets and the macroeconomy • Macroeconomic policy • International monetary system

  7. Mid term paper/home assignment • The assignment is to be completed and delivered within x (working) days. • There will be a limit on the lenght of the term paper (in terms of words) • The paper will be marked, the mark will count the final evaluation, but less than the school exam (40%). • Further details are fortcoming.

  8. Introduction to dynamic models • Static and dynamic models, and their interpretation in macroeconomics • Concepts of dynamic analysis. • Adjustments lags • Short-run and long-run • Steady state • Impact multiplier, dynamic multiplier, long-run multiplier Reading: • Lecture note: Dynamic models, sections 1-7.

  9. Wage and price setting • The Phillips curve. • The Norwegian model of inflation, • “The battle of mark-ups” Reading: • Lecture note “Dynamic models”, section 8 • B&W chapter 12. Note: You will need to “browse” trough earlier chapters in order to obtain familiarity with notation and concepts which are taken as given in ch 12.

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