{"id":null,"code":"BO00AV02","name":{"valueFi":"Responsible Macroeconomic Policy and Analysis","valueEn":"Responsible Macroeconomic Policy and Analysis","valueSv":""},"credits":6.0,"minCredits":6,"maxCredits":6,"tags":[],"createdAt":1790534921839,"contentList":[{"title":{"valueFi":"Osaamistavoitteet","valueEn":"Learning outcomes","valueSv":""},"content":{"valueFi":"This course provides an in-depth exploration of macroeconomic theory and policy, focusing on the interplay between institutions, economic instability, and inequality. Students will engage with contemporary research and policy issues in macroeconomics based on key topics such as the 3-equation (HANK) model, the role of the financial system, and the integrated treatment of inequality. Through a combination of lectures, policy tutorials and exercises/quizzes focusing on practical applications, students will develop a robust understanding of the macroeconomic challenges facing global economies today and the tools to address them. One of the special features of the course is to introduce the students thoroughly to the discussions about contemporary macroeconomic policy solutions to meet the urgent need to adapt to and affect the ongoing climate crisis. These will be discussed from e.g. the points of view of macro-financial solutions and inequality effects. In addition, the students will be given a short introduction to the current stage of complex system analysis with respect to macroeconomic policy issues.","valueEn":"This course provides an in-depth exploration of macroeconomic theory and policy, focusing on the interplay between institutions, economic instability, and inequality. Students will engage with contemporary research and policy issues in macroeconomics based on key topics such as the 3-equation (HANK) model, the role of the financial system, and the integrated treatment of inequality. Through a combination of lectures, policy tutorials and exercises/quizzes focusing on practical applications, students will develop a robust understanding of the macroeconomic challenges facing global economies today and the tools to address them. One of the special features of the course is to introduce the students thoroughly to the discussions about contemporary macroeconomic policy solutions to meet the urgent need to adapt to and affect the ongoing climate crisis. These will be discussed from e.g. the points of view of macro-financial solutions and inequality effects. In addition, the students will be given a short introduction to the current stage of complex system analysis with respect to macroeconomic policy issues.","valueSv":""}},{"title":{"valueFi":"Sisältö","valueEn":"Content","valueSv":""},"content":{"valueFi":"Introduction to Macroeconomics: Overview of macroeconomic principles and the importance of institutions in shaping economic outcomes. The 3-Equation Model: Detailed study of the 3-equation model (IS-PC-MR) and its application to macroeconomic analysis. Financial Systems and Economic Stability: Examination of the role of financial systems in economic stability and the impact of financial crises. Monetary Policy: Analysis of monetary policy, including at the zero lower bound, and its effects on inflation and economic growth. Fiscal Policy: Analysis of sustainable fiscal policy, focusing also on periods of crises Economic Growth and Innovation: Exploration of the drivers of economic growth and the role of innovation in long-term economic development. Inequality and Macroeconomic Performance: Investigation of the relationship between inequality and macroeconomic performance, including the impact of income distribution on economic stability. Exchange Rates and International Economics: Study of exchange rate dynamics and their implications for international trade and economic policy. Commodity Price Shocks: Understanding the macroeconomic effects of commodity price shocks and their impact on global economies. Policy Responses to Economic Instability: Evaluation of policy responses to economic instability, including fiscal and monetary policy measures. Analysis of Complex Economic Systems for Sustainable Macro Policies: Introduction to chaos theory and complex systems as a tool for contemporary macroeconomic policy issues. Case Studies and Applications: Application of macroeconomic theories to real-world case studies and contemporary policy issues.","valueEn":"Introduction to Macroeconomics: Overview of macroeconomic principles and the importance of institutions in shaping economic outcomes. The 3-Equation Model: Detailed study of the 3-equation model (IS-PC-MR) and its application to macroeconomic analysis. Financial Systems and Economic Stability: Examination of the role of financial systems in economic stability and the impact of financial crises. Monetary Policy: Analysis of monetary policy, including at the zero lower bound, and its effects on inflation and economic growth. Fiscal Policy: Analysis of sustainable fiscal policy, focusing also on periods of crises. Economic Growth and Innovation: Exploration of the drivers of economic growth and the role of innovation in long-term economic development. Inequality and Macroeconomic Performance: Investigation of the relationship between inequality and macroeconomic performance, including the impact of income distribution on economic stability. Exchange Rates and International Economics: Study of exchange rate dynamics and their implications for international trade and economic policy. Commodity Price Shocks: Understanding the macroeconomic effects of commodity price shocks and their impact on global economies. Policy Responses to Economic Instability: Evaluation of policy responses to economic instability, including fiscal and monetary policy measures. Analysis of Complex Economic Systems for Sustainable Macro Policies: Introduction to chaos theory and complex systems as a tool for contemporary macroeconomic policy issues. Case Studies and Applications: Application of macroeconomic theories to real-world case studies and contemporary policy issues.","valueSv":""}},{"title":{"valueFi":"Suoritustavat","valueEn":"Study Methods","valueSv":""},"content":{"valueFi":"Mandatory final exam. Home assignment/term paper (not mandatory), and weekly tutorial/practical policy sessions/student presentations (not mandatory) for additional points yielding higher overall grade from the course.  Details on the role of assignment/tutorials/presentations in the overall grading of the course are given in the course Moodle page.","valueEn":"Mandatory final exam. Home assignment/term paper (not mandatory), and weekly tutorial/practical policy sessions/student presentations (not mandatory) for additional points yielding higher overall grade from the course.  Details on the role of assignment/tutorials/presentations in the overall grading of the course are given in the course Moodle page.","valueSv":""}},{"title":{"valueFi":"Toteutustavat","valueEn":"Teaching Methods","valueSv":""},"content":{"valueFi":"Contact teaching in hybrid form for the lectures (28 hours), 8 hours of tutorials/policy sessions (ONLY ON CAMPUS), 121 hours of independent self-study for assignment/term paper, exam, and preparing for tutorials/policy sessions. Exam 3 hours (not included to the number of lecture hours). Details available from Moodle.","valueEn":"Contact teaching in hybrid form for the lectures (28 hours), 8 hours of weekly tutorials/policy sessions (ONLY ON CAMPUS), 121 hours of independent self-study for assignment/term paper, exam, and preparing for tutorials/policy sessions. Exam 3 hours (not included to the number of lecture hours). Details available from Moodle.","valueSv":""}},{"title":{"valueFi":"Oppimateriaalit","valueEn":"Learning material","valueSv":""},"content":{"valueFi":"<p>Lecture notes, course books, policy&nbsp;briefs and article material, all available from Moodle.</p>","valueEn":"<p>Lecture notes, course books, policy&nbsp;briefs and article material, all available from Moodle.</p>","valueSv":""}},{"title":{"valueFi":"Lisätiedot","valueEn":"Further information","valueSv":""},"content":{"valueFi":"Relevant theme-specific visitors will be invited to some lectures, details given on the Moodle page.","valueEn":"Relevant theme-specific visitors will be invited to some lectures, details given on the Moodle page.","valueSv":""}},{"title":{"valueFi":"Kurssikirjallisuus","valueEn":"Literature","valueSv":""},"content":{"valueFi":"1. Carlin, W & Soskice, D. (2024); Macroeconomics: Institutions, Instability, and Inequality. Oxford, Oxford University Press, 2024 978-0-19-883866-1\n2. Farmer, J.D.; Making Sense of Chaos; A better Economics for a Better World. Allen Lane, 2024. 978-0-241-20197-8","valueEn":"1. Carlin, W & Soskice, D. (2024); Macroeconomics: Institutions, Instability, and Inequality. Oxford, Oxford University Press, 2024 978-0-19-883866-1\n2. Farmer, J.D.; Making Sense of Chaos; A better Economics for a Better World. Allen Lane, 2024. 978-0-241-20197-8","valueSv":"1. Carlin, W & Soskice, D. (2024); Macroeconomics: Institutions, Instability, and Inequality. Oxford, Oxford University Press, 2024 978-0-19-883866-1\n2. Farmer, J.D.; Making Sense of Chaos; A better Economics for a Better World. Allen Lane, 2024. 978-0-241-20197-8"}},{"title":{"valueFi":"Esitietovaatimukset","valueEn":"Qualifications","valueSv":""},"content":{"valueFi":"Fundamentals of Economics (721352S), Mathematical Economics (721338S), Principles of Econometrics (721066S)","valueEn":"Fundamentals of Economics (721352S), Mathematical Economics (721338S), Principles of Econometrics (721066S)","valueSv":""}},{"title":{"valueFi":"Arviointiasteikko","valueEn":"Assessment scale","valueSv":""},"content":{"valueFi":"1-5/HYL","valueEn":"1-5/FAIL","valueSv":"1-5/FAIL"}},{"title":{"valueFi":"Arviointikriteerit","valueEn":"Assessment criteria","valueSv":""},"content":{"valueFi":"Mandatory exam has to be passed, additional points available from assignment/term paper and policy sessions/presentations, added to the grade from a passed exam.","valueEn":"Mandatory exam has to be passed, additional points available from assignment/term paper and policy sessions/presentations, added to the grade from a passed exam.","valueSv":""}},{"title":{"valueFi":"Arviointikriteerit 2","valueEn":"Evaluation criteria 2","valueSv":""},"content":{"valueFi":"","valueEn":"","valueSv":""}},{"title":{"valueFi":"Arviointikriteerit 3","valueEn":"Evaluation criteria 3","valueSv":""},"content":{"valueFi":"","valueEn":"","valueSv":""}},{"title":{"valueFi":"Arviointikriteerit 4","valueEn":"Evaluation criteria 4","valueSv":""},"content":{"valueFi":"","valueEn":"","valueSv":""}},{"title":{"valueFi":"Pääasiallinen opetuskieli","valueEn":"Primary Teaching Language","valueSv":""},"content":{"valueFi":"englanti","valueEn":"English","valueSv":"engelska"}},{"title":{"valueFi":"Taso","valueEn":"Level","valueSv":""},"content":{"valueFi":"Syventävät opinnot","valueEn":"Advanced Studies","valueSv":"Syventävät opinnot"}},{"title":{"valueFi":"Oppiaine","valueEn":"Subject","valueSv":""},"content":{"valueFi":"Taloustiede","valueEn":"Economics","valueSv":""}},{"title":{"valueFi":"Vastuuhenkilöt","valueEn":"Person in charge","valueSv":""},"content":{"valueFi":"Juha Junttila","valueEn":"Juha Junttila","valueSv":"Juha Junttila"}},{"title":{"valueFi":"Luokittelu","valueEn":"Classification","valueSv":""},"content":{"valueFi":"","valueEn":"","valueSv":""}},{"title":{"valueFi":"Linkit","valueEn":"Links","valueSv":""},"content":{"valueFi":"","valueEn":"","valueSv":""}}]}