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ECON 3410, International Macro and Finance

ECON 3410, International Macro and Finance. Overview, autumn 2003. Some upcoming events:. Tuesday 19/8 15.15-17: First lecture Introduction to the basics of the PcGive software. Wednesday 20. august and Friday 22 august.  Room 529 Eilert Sundts hus

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ECON 3410, International Macro and Finance

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  1. ECON 3410, International Macro and Finance Overview, autumn 2003

  2. Some upcoming events: • Tuesday 19/8 15.15-17: First lecture • Introduction to the basics of the PcGive software. • Wednesday 20. august and Friday 22 august.  • Room 529 Eilert Sundts hus • Friday22/8: Course in database search and download • 10.15-12.00 and 12.15-14.00 • Room 3529 in Georg Sverdrups hus (the library). • Look up the link http://www.ub.uio.no/uhs/sok/fag/sosok/kurs.html and contact Pål M. Lykkja, academic librarian in economics,e-mail: p.m.lykkja@ub.uio.no telephone: 228 57 150 to sign yourself up! • Late October. Presentation of Inflation report no 3, from the Central Bank of Norway

  3. Term paper/home assignment • The assignment is to be completed and delivered within 7 (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. • Further details are fortcoming.

  4. The seminars • The seminars start in in week 36 (first week of September) • The exercise set will be available on Monday 25. August. • The exercises will signal some of the essential learning objectives. • Questions from the exercise set may re-appear in the school exam.

  5. The reading list • 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)

  6. 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”.

  7. The organization 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

  8. Introduction to dynamic modelsThis week • 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 1-6.

  9. Wage and price settingNext week • The Phillips curve. • The Norwegian model of inflation, • “The battle of mark-ups” Reading: • Lecture note “Dynamic models”, section 7 • 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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