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Intermediate Macroeconomics B 7.5 credits

Nationalekonomi B, Makroteori
First cycle, N0006N
Course syllabus valid: Autumn 2021 Sp 1 - Present
The version indicates the term and period for which this course syllabus is valid. The most recent version of the course syllabus is shown first.

Education level
First cycle
Grade scale
U G VG *
Subject group (SCB)
Main field of study

Entry requirements

In order to meet the general entry requirements for first cycle studies you must have successfully completed upper secondary education and documented skills in English language and completed courses of at least 30 credits in Economics with at least the grade Pass. The following courses should be included: Introductory Macroeconomics (N0011N) 7,5 credits and Applied Macroeconomics (N0012N) 7,5 credits, or equivalent. Good knowledge in English, equivalent to English 6.

More information about English language requirements


The selection is based on 1-165 credits.

Course Aim
After completing the course students should have the ability to:

Knowledge and understanding
• Describe and explain central macroeconomic definitions as well as assumptions in macroeconomic models
• Derive, mathematically and graphically the Mundell-Fleming model
• Graphically derive both static and dynamic models for aggregate demand and supply, as well as mathematically describe the models
• Explain, graphically and mathematically models of long-run economic growth 

Skills and abilities
• Apply the Mundell-Fleming model to analyze the business cycle and the effectiveness of stabilization policies in a small open economy under different exchange rate regimes.
• Apply aggregate supply and demand models to analyze stabilization policies in a small open economy affects various macroeconomic variables , especially GDP and inflation in the short- to medium run under different exchange rate regimes and different inflation  expectations
• Apply models of long-run economic growth to analyze specific issues such as poverty traps and economic integration
• Analyze different specific macroeconomic issues such as persistence in the labor market and how government budget deficits and debt affects the economy

• Critically assess assumptions in macroeconomic models, as well as strengths and shortcomings of the models
• Critically assess macroeconomic arguments in the current political debate. 

Central during the course is the fact that we in Sweden live in a small open economy. The course contents:

The demand side – The Keynesian model:
  • The goods market and the IS curve.
  • The Keynesian multiplier
  • Intertemporal decisions
  • The money market and the LM curve
  • The foreign exchange market and the FE curve
  • The Mundell-Flemming model
The supply side – The labor market
  • Potential GDP and the aggregate supply in intermediate run
  • Actually GDP and the aggregate supply in short run
  • Unemployment
Models for aggregate and supply
  • AD/AS
  • DAD/SAS (dynamic model)
  • Expectations
Economic growth
  • Growth accounting
  • The Solow model
  • Optimal level of investment
  • Poverty traps
  • Endogenous growth
Budget deficits and public debt
Persistence at the labor market

Each course occasion´s language and form is stated and appear on the course page on Luleå University of Technology's website.
The course will consist of lectures.

If there is a decision on special educational support, in accordance with the Guideline Student's rights and obligations at Luleå University of Technology, an adapted or alternative form of examination can be provided.
The course ends with a (individual) written exam covering the theoretical content of the course equivalent to 6 credits. The exam is given the grades VG (passed with honor), G (passed) or U (failed).

The examination also include mandatory seminars equivalent to 1.5 credits. At the seminars students in groups present solutions to macroeconomics problems. The seminars are given grades G (passed) or U (failed). For the grade G (passed) students must pass three out of four seminars.

The grades of the written examination will determine the final grade of the course.

Students must register for the courses themselves, or contact ETKS educational administration , not later than three days after the quarter commences. Failure to do so can result in the place being lost. This rule also applies to students with a guaranteed place.


Jerry Blomberg

Transition terms
The course N0006N is equal to IEN328

Literature. Valid from Autumn 2007 Sp 1
Gärtner, Manfred; Macroeconomics, latest edition, Prentice Hall.

Course offered by
Department of Social Sciences, Technology and Arts

CodeDescriptionGrade scaleCrStatusFrom periodTitle
0002Written examU G VG *6.00MandatoryA14
0003SeminarsU G#1.50MandatoryA14

Study guidance
Study guidance for the course is to be found in our learning platform Canvas before the course starts. Students applying for single subject courses get more information in the Welcome letter. You will find the learning platform via My LTU.

Syllabus established
by Department of Business Administration and Social Sciences 28 Feb 2007

Last revised
by Director of Undergraduate Studies Daniel Örtqvist, Department of Social Sciences, Technology and Arts 17 Feb 2021