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- Code:
- ECOK-284
- Field:
- Macroeconomics
- Target:
- Bachelor's students
- Organiser:
- University of Helsinki - Economics
- Instructor:
- Antti Ripatti
- Period:
- Period 1
- Format:
- Participation in teaching
- Method:
- Contact teahing
- Venue:
- Economicum
- Enrollment:
In case of conflicting information consider the Sisu/Course/Moodle pages the primary source of information.
Aalto, Hanken and UH economics students can enroll through their home university’s SISU. Further instructions are available on the How to enroll? page, also for students from other universities.
If you would like to count the credits towards your degree, please check your curriculum or contact your supervisor or student services for guidance.
- To access the Moodle course area, use all the features and participate in the activities (assignments, discussions), you must have successfully registered for the course in Sisu and logged in with your UH user ID.
- For more information on how to activate your UH user ID and register for a Moodle course area, click here.
Content
This course develops the core analytical frameworks of modern macroeconomics, focusing on intertemporal decision-making and general equilibrium. We study household consumption–saving and labor–leisure choices in dynamic settings, using them to separate income and substitution effects both across time and within a period. From these building blocks, we derive models’ equilibrium concepts. We keep the algebra to what’s essential and emphasize the economic logic of prices, allocations, and market clearing in general-equilibrium environments.
Building on these foundations, we develop the neoclassical growth model and its RBC variant as benchmarks for understanding fluctuations in output, employment, and investment, then extend the analysis to search-and-matching unemployment. Throughout, we apply and adapt these models to current policy questions—especially fiscal policy—so students learn not only how the mechanisms work but how to use them.
Learning outcomes
After the course, the student should
- Understand the household consumption and saving decision in dynamic setting
- Understand the household labor supply decision and the interaction between leisure and consumption
- Be able to disguish between income and substitution effects both in intertemporal and intratemporal setting
- Be able to define different equilibrium concepts and the general equilibrium
- Understand the origins and outcomes of business cycles
- Be able to apply and alter the models for topical economic policy issues such as fiscal policy