This course is discontinued

5315 – Recursive Macroeconomic Theory

Schedule, syllabus and examination date

Choose semester

Course content

• Competitive Equilibrium and Pareto Optima
• Complete market and perfect risk sharing
• Permanent income/ life cycle model
• Complete market with enforcement and information frictions
• Creditable government policy
• Current research in asset pricing (incomplete market, enforcement problem,
• Large scale OLG model with demographic/ policy transition

Learning outcome

This course is designed to develop a working toolbox for Ph.D. students who would like to conduct research in applied theory. The course teaches basic tools of modern macroeconomics, which has direct applications to a broad set of fields in economics (labor economics, political economy, development, asset pricing, and others). The ultimate goal of this course is to learn to use a variety of models that can be used to give quantitative answers to a number of economic questions.


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.

If you are not already enrolled as a student at UiO, please see our information about admission requirements and procedures.

This is an advanced course at phd-level, but open for specially interested masters students.


Recommended previous knowledge

Students in this class are expected to have taken ECON4310 – Macroeconomic Theory or other macro courses at the same level. For those who have not taken the above mentioned courses, you are strongly encouraged to consult with the course lecturers before taking the course.


Lectures: 2 hours per week throughout the semester.

Seminars: 2 hours per week through parts of the semester.

Access to teaching

A student who has previously been admitted to the course, is entitled to repeat the course, contingent on available capacity.


The students will be evaluated by means of portfolio assessment, based on hand-ins and assignments given through the semester

Examination support material

No examination support material is allowed.

Language of examination

You may submit your response in Norwegian, Swedish, Danish or English. If you would prefer to have the exam text in English, you may apply to the course administrators.

The problem set will be given in English. Answers can be given in Norwegian, Swedish, Danish or in English. See § 5.4 in Regulations governing studies and examinations at the University of Oslo.

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

The Department of Economics has passed following resolution for ECON-courses: It will no longer be possible for candidates to register for an exam in a lower level course after having passed exams in intermediate and advanced level courses in the same subject area (also where there are no pre-requisites that apply to the intermediate course). Further information can be found here.

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.

Facts about this course






Spring 2009


Spring 2009

Teaching language