Schedule, syllabus and examination date

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Course content

The focus in this course is on how economic aggregates evolve over time and on how this evolution is shaped by economic agents who are taking account of how their present decisions will affect their own future. Among the topics are:

  • Saving and investment decisions.
  • Capital accumulation and the determination of real interest rates.
  • Long-run consequences of fiscal policy and government debt.
  • Public pension systems.

The course covers a range of models that are among the most widely used tools in macroeconomic thinking. It is meant as an introduction to macro theory at the masters’ level and provides a useful background for the other macro courses.

Learning outcome


You should know

  • the basic neoclassical growth model (Solow-type)
  • overlapping generation models (Diamond-type)
  • dynastic models (infinite horizon models Ramsey-type)
  • the modern theories of saving and investment behavior, of government deficits and debt.


You should be able to

  • solve simple dynamic optimization problems both with and without uncertainty
  • use intertemporal equilibrium models to discuss qualitatively the effects over time of exogenous shocks to the economy
  • discuss the long run effects of fiscal policies as well as their effects on the business cycle


You should

  • be able to read and understand project reports and journal articles that make use of the concepts and methods that are introduced in the course
  • be able to make use of the course content in your own academic work, for example in analyses that are part of the master’s thesis


Students admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in Studentweb.

Students not admitted to the Master’s programme in Economics or the Master’s programme in Economic Theory and Econometrics (Samfunnsøkonomisk analyse), can apply for admission to one of our study programmes, or apply for guest student status.

You can not attend this course if you have already passed specific ECON-courses at a higher level.


Formal prerequisite knowledge

You must fulfill one of these prerequisites:

Recommended previous knowledge

Overlapping courses

10 credits overlap with SØK/ECON411 Macroeconomics advanced


Lectures and seminars.

Compulsory tuition activities:

  • A compulsory term paper.

If the compulsory term paper is not approved, you may be given a second attempt to hand in a new term paper/improve the term paper within a short deadline. 

When the compulsory term paper is approved, the result will be registered. The term paper will be valid for 8 consecutive semesters.

See The Faculty of Social Sciences' rules regarding compulsory tuition activities.

Candidates who have passed the course before autumn 2016 and wish to re-take the exam need to get the term paper approved before they can re-take the exam.

Absence from compulsory tuition activities

If you are ill or have another valid reason for being absent from compulsory tuition activities, your absence may be approved or the compulsory activity may be postponed.


A 3-hour written school exam.

You must have passed the mandatory activities in order to sit for the exam.

Previous exams

Exam papers with comments from examiner

Digital examination

The written examination is conducted in the digital examination system Inspera. You will need to familiarize yourself with the digital examination arrangements in Inspera.

Read more about written examinations using Inspera.

Examination support material

Students may use dictionaries at this exam. Dictionaries must be handed in before the examination. Please read regulations for dictionaries permitted at the examination.

Language of examination

The examination text is given in English, and you submit your response in English.

Grading scale

Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.

Explanations and appeals

Resit an examination

If you are sick or have another valid reason for not attending the regular exam, we offer a postponed exam later in the same semester.

There are restrictions on resitting this exam. See further information about resitting an exam.

Withdrawal from an examination

It is possible to take the exam up to 3 times. If you withdraw from the exam after the deadline or during the exam, this will be counted as an examination attempt.

Special examination arrangements

Application form, deadline and requirements for special examination arrangements.


The course is subject to continuous evaluation. At regular intervals we also ask students to participate in a more comprehensive evaluation.

Facts about this course






Every autumn


Every autumn

Teaching language