Macroeconomics: Policy (6 cr)

Master’s students
Aalto University
Peter Matthews
Period 3
Contact teaching
Otaniemi campus

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

Formulation and use of New Keynesian models for policy making and analysis, role of financial and labor markets in macroeconomic fluctuations, the Great Recession and the problem of very low interest rates, theory of fiscal and monetary policy, analysis of long-term growth and development.

  • Completion method: contact teaching
  • Schedule: can be found in Sisu
  • Study materials: can be found in MyCourses
    • To access the course workspace, use all the features and participate in the activities (assignments, discussions), you must have successfully registered for the course in Aalto's Sisu and logged in as an Aalto user with your Aalto IT account (which is generated after you have been granted study rights).
    • Workspaces for some courses are open access, but please note the above.
    • For more tips on how to register for a MyCourses course area, click here.

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

Aalto University Students
  • Code: 31E23000

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

  • Credit points: 6

Hanken Students
  • Code: 26038
    • can be also used to substitute the mandadatory course 26042 Applied Macroeconomics
  • Target groups: MSc (not suitable for PhD students)
  • Credit points: 6 cr
  • Credit transfer: apply for substitution in Sisu

Further instructions can be found here.

University of Helsinki Students
  • Code: no equivalent code
    • can be included in the module ECOM-G/R400 Field courses in economics or in the module ECOM-600 Career Orientation Studies (5 - 15 cr)
  • Target groups: MSc / rMSc (not suitable for PhD students)
  • Credit points: 6
  • Credit transfer: apply for substitution in Sisu
  • AGERE students: Before taking and completing this course make sure that the credits can be counted towards your degree by checking which courses are/can be included in your curriculum. You can also contact your planning officer Simo Riikonen (

Further instructions can be found here.

FDPE Students Students
  • Not suitable for PhD students

The course develops central areas of macroeconomic theory that are useful for analysis and discussion of policy making. The policy topics covered include foundations of unconventional monetary policies e.g. quantitative easing, the role of financial markets in the recent crisis, current problems and topics in the Euro area and issues in long-term economic growth. Students learn the motivations for policy analysis, become familiar with current policy concerns and acquire analytical skills for assessing these problems.