KTTS2130 Business Cycle Theory (5 cr)
Description
The course extends the knowledge of the functioning of the macroeconomy beyond the intermediate macroeconomy course. The course covers short-run business fluctuations beyond the standard ISLM model. It deals with topics like rational expectations, staggered price adjustment, history of macroeconomic thought, real-business cycles and Keynesian theories of economic fluctuation. Course supports especially the following goals of UN sustainable development: Decent work and Economic growth, including good health and well-being.
Learning outcomes
apply main macroeconomic theories to understanding, diagnosing and solving economic problems
evaluate and comprehend the concept of rational expectations and apply rational expectations in macroeconomic scrutiny
analyze the reasons and outcomes of business cycle fluctuations using different business cycle models
Working life and meta skills supported: Analytic, systematic thinking skills and ability to learn and adopt new things
Additional information
Ajoitus: 4. vuosi
Description of prerequisites
Recommended prerequisites
- Prerequisite group 1
- Prerequisite group 2
- KTTA2160 Macroeconomics I (8 cr)
- KTTS1220 Mathematical Economics (8 cr)Not published for this curriculum period
- Prerequisite group 3
- KTTA2160 Macroeconomics I (8 cr)
- KTTA1110 Mathematical Economics I (5 cr)Not published for this curriculum period
Study materials
Soveltuvin osin:
Sörensen, P.B. & Whitta-Jacobsen, H. J. 2010. Introducing Advanced Macroeconomics. Growth & Business Cycles. 2nd edition.; ISBN: 139780077117863 (Book two: The Short Run, pages 353-820).
Muu kurssin aikana ilmoitettu kirjallisuus
Literature
- Sörensen, P.B. & Whitta-Jacobsen, H. J. 2010. Introducing Advanced Macroeconomics. Growth & Business Cycles. 2nd edition. (Book two: The Short Run, pages 353-820); ISBN: 139780077117863