Course description

• Course content
• Learning outcome
• Admission
• Prerequisites

• Teaching
• Examination
• Evaluation

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 outcome

Knowledge
You should know

• 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
You should be 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

Competence
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

Admission

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.

Prerequisites

Formal prerequisite knowledge

You must fulfill one of these prerequisites:

• Bachelor's degree in Economics, or equivalent.
• ECON3220 – Microeconomics 3 / ECON4220 – Microeconomics 3, or equivalent.

Recommended previous knowledge

• Students who do not have ECON3120 – Mathematics 2: Calculus and Linear Algebra / ECON4120 – Mathematics 2: Calculus and Linear Algebra and ECON4310 – Macroeconomic Theory, or equivalent, are advised not to take this course.

Teaching

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.

• Report absence from or the need for a postponed deadline on a compulsory tuition activity

Examination

Normally, this course has a 3-hour written school exam.

For the spring 2021 applies:

The examination will be a home examination in Inspera. The home exam will be an open-book exam, where all written and printed resources as well as technical support is allowed. The time schedule will be published on the semester page.  

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

Previous exams

Exam papers with comments from examiner

Submit assignments in Inspera

You submit your assignment in the digital examination system Inspera. Read about how to submit your assignment.

Use of sources and citation

You should familiarize yourself with the rules that apply to the use of sources and citations. If you violate the rules, you may be suspected of cheating/attempted cheating.

Language of examination

The examination text is given in English.You may submit your response in Norwegian, Swedish, Danish or 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

• Explanation of grades 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.

See also our information about resitting an exam.

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.

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.

Evaluation

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