Macroeconomics 1 (5 cr)

Master’s students
University of Helsinki - Economics
Niku Määttänen
Period 1
Contact teaching
Economicum building

In case of conflicting information consider the Sisu/Courses/Moodle pages the primary source of information.

This course provides analytical tools and a modern macroeconomic framework to understand economy-wide phenomena such as aggregate saving, employment, investment, inflation, fiscal policy, monetary policy and growth. It uses mainly two-period models to study the intertemporal choices of households and firms, the interactions of their decisions, and the design of fiscal and monetary policies. The course is also intended to act as a bridge between typical intermediate macroeconomics and more advanced courses that rely heavily on dynamic infinite-horizon models.

  • Completion method: contact teaching
  • Schedule: can be found in Course Page and Sisu
  • Study materials: can be found in Moodle
    • For some courses, it is enough to register in Sisu and you can access directly the Moodle area, please note, however, that it may take up to two hours after registration to enter the Moodle area.
    • Log in with your UH username to be able to use all the features of the course workspace
    • More tips for enrolling in Moodle can be found here

Please register for the course in the UH Sisu with your UH username. Further instructions can be found here.

Aalto University Students
  • Code: no equivalent code
  • Target groups: MSc (not suitable for PhD students)
  • Credit points: 5
  • Credit transfer: apply for inclusion in Sisu
Hanken Students
  • Code: 2693
    • can be also used to substitute the mandadatory course 26042 Applied Macroeconomics, 5 cr
  • Target groups: MSc (not suitable for PhD students)
  • Credit points:
    • 2693: 6 cr
    • 26042: 5 cr
  • Credit transfer: apply for substitution in Sisu
University of Helsinki Students
  • Code: ECOM-G312

  • Target groups: MSc (not suitable for rMSc and PhD students)

  • Credit points: 5

FDPE Students Students
  • Not suitable for PhD students

After the course, the student should:

  • understand how the consumption smoothing motive, interest rates and borrowing constraints shape households’ consumption and savings behaviour.
  • be able to analyse how different taxes and transfers affect households’ labour supply and savings incentives.
  • understand the firms’ factor demand behaviour and how market forces determine wages and interest rates in a simple general equilibrium framework.
  • be able to describe when and how fiscal policy affects aggregate demand.
  • understand the foundations of the Phillips curve and how the monetary policy is conducted in the inflation targeting monetary policy regime.
  • be able to analyse fiscal sustainability using the intertemporal budget constraint of the government.