KTTA2160 Macroeconomics I (8 cr)

Study level:
Intermediate studies
Grading scale:
English, Finnish
Responsible organisation:
Jyväskylä University School of Business and Economics
Curriculum periods:
2024-2025, 2025-2026, 2026-2027, 2027-2028

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Why are some countries rich while others remain poor and what drives business cycles? These questions will be tackled in the course.


The lecture course is split into two parts: long-run economic growth and short-run business cycle. With regard to economic growth, the Solow model and deep determinants such as institutions and culture are studied. In the business cycle part of the course the IS-LM and IS-LM-PC models are introduced.

The course supports the following UN Sustainable Development Goals:

  • Goal 8: Decent work and economic growth
  • Goal 9: Industry, innovation and infrastructure
  • Goal 10: Reduced inequilities

Learning outcomes

At the end of the course students should be able to:
  • choose a suitable model to analyze different macroeconomic questions
  • examine factors that affect the balanced growth path in the long run
  • recognize both proximate and fundamental causes of economic growth
  • examine factors that affect economic activity in the short run
  • analyze the effects of economic policy in the short run and in the medium run

Content of the course is related to the following working life skills (generic skills):

  • critical thinking
  • problem solving
  • analysis and assessment of information
  • understanding of causal relations

Additional information

Please contact the instructor.

Description of prerequisites

KTTP2110 Taloustieteen peruskurssi, KTTA1120 Ekonometrian johdantokurssi.

Study materials

Please contact the instructor for the book exam instructions.


  • Blanchard, O., Amighini, A., Giavazzi, F. 2021. Macroeconomics: A European Perspective, 4th Edition. Pearson Education Limited; ISBN 13: 978-1-292-36089-8
  • Acemoglu, D. Laibson, D., List, J. A. 2022. Macroeconomics, Global Edition, 3rd Edition. Pearson Education Limited; ISBN 13: 978-1-292-41213-9

Completion methods

Method 1

The lecture course is in Finnish.
Evaluation criteria:
Luentokurssin arviointi koostuu useista osista (tentti, ryhmätyöt, harjoitukset)
Time of teaching:
Period 3
Select all marked parts

Method 2

The book exam can be done in Finnish or in English.
Evaluation criteria:
Book exam
Select all marked parts
Parts of the completion methods

Teaching (8 cr)

Participation in teaching
Grading scale:
English, Finnish



Exam (8 cr)

Grading scale:
English, Finnish
No published teaching