ECON4325 - Monetary Policy
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Course content
The course aims at providing students with a knowledge and understanding of recent research in the fields of monetary policy and business fluctuations.
Learning outcomes
Knowledge outcome
The course aims at covering basic graduate material in monetary economics. This includes:
Empirical evidence on the effects of monetary policy
The New Keynesian model
Interest rate rules
Time inconsistency
The credit channel of monetary policy
Monetary policy in Norway and in the euro area
Welfare costs of business cycles.
Skills
The course aims at making the students able to
• understand and give an account of the main theories, including the assumptions, the mechanisms and analyses, and the conclusions
• evaluate the theories in light of empirical findings
• make use of the theories in work on practical economic problems
Admission
Students who are admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in StudentWeb.
Students enrolled in other Master's Degree Programmes can, on application, be admitted to the course if this is cleared by their own study programme.
International applicants, if you are not already enrolled as a student at UiO, please see our information about admission requirements and procedures for international applicants.
The examination in this course is not available for external candidates. Only students admitted to the course may sit for the examination.
Prerequisites
Formal prerequisites
Bachelor's Degree in Economics, or equivalent
Recommended prior knowledge
ECON3120 - Mathematics 2: Calculus and linear algebra / ECON4120 - Mathematics 2: Calculus and linear algebra, or equivalent.
ECON4215 - Microeconomics / ECON4230 - Microeconomic Theory, or equivalent.
ECON4310 - Macroeconomic Theory, or equivalent.
Teaching
Lectures: 2 hours per week throughout the semester.
Seminars: 2 hours per week through parts of the semester.
There might occur weeks exempt from teaching.
Exam information
A 3-hour written school exam.
Exam resources
No special exam resources are allowed.
Language of examination
The problem set will be given in English. Answers can be given in Norwegian, Swedish, Danish or in English. See § 6.4 i Forskrift om studier og eksamener ved Universitetet i Oslo .
Assessment and grading
Course grades are awarded on a descending scale using alphabetic grades from A to E for passes and F for fail. Read more about the grading system .
An external auditor regularly evaluates the academic quality of the course, including the form of exam used on the course.
Explanations and appeals
Students can request an explanation of their grades, and can also appeal against their grades or make a complaint about formal examination errors. Read more about explanations and appeals
Possibility of make-up exams and re-takes
Students who might wish to retake the exam later, are not guaranteed that the course is ever repeated with a similar reading list, nor that the exam arrangement will be the same.
You can usually resit an exam, but the conditions depend on whether you had a valid reason for absence from the regular exam. Read more about resitting an exam .
Withdrawing from exams and limits on re-takes
A student can sit for this exam up to 3 times. If a student wishes to withdraw from the exam, s/he must do this in StudentWeb at least two weeks prior to the first day of the exam. Failure to do so will be counted as one of the three opportunities to sit for the exam.
Exam options for students with special needs
Students may apply for access to alternative exam resources or exam forms on the basis of chronic illness and/or special needs that create a marked disadvantage to other students in the exam situation. Mothers who are breastfeeding may apply for extra time to complete the exam.
Evaluation of this course
Feedback from our students is essential to us in our efforts to ensure and further improve the high quality of our programmes and courses. As a student at the University of Oslo you will therefore be asked to participate in various types of evaluation of our courses, facilities and services. All courses are subject to continuous evaluation. At regular intervals we also ask students on a particular course to participate in a more comprehensive, in-depth evaluation of this course, a so called "periodic evaluation".
A periodic evaluation of ECON4325 was conducted during spring term 2009. A Norwegian version of the evaluation report that was compiled on the basis of the information retrieved from the evaluation, can be found here
Contact us
Department of Economics
Visiting address:
Moltke Moes vei 31, Eilert Sundts house, 12th floor
Visiting hours:
10.15-11.00 and 12.15-15.00
Postal address:
P.O box 1095 Blindern
0317 Oslo
Fax: +47 22855035
E-mail: post@econ.uio.no
Web: http://www.sv.uio.no/econ/english/