Transcript major Economics

Master of Science
Major in economics
Per Botolf Maurseth
B4-011
[email protected]
About economics
• Our aim is to understand the economy:
• Microeconomics:
• Markets, competition, incentives, contracts, strategic interaction
• Macroeconomics
• Interest rates, stock market and unemployment
• Economic growth
• Innovation, produtivity and R&D.
• International trade and globalization
• Econometrics and forecasting
Perspective
• Method for thinking about
the economy
• Theory, applications and
empirics
• General vs partial
equilibrium
• Many questions, not alwas
answers
Master vs bachelor
• Level
• Higher level of abstraction
• Deeper understanding
• Research based teaching
• Teachers are researchers in their field
• Student effort
• You gain from being active and invest
in effort
• Relevance
• Topics are abstract, and also relevant
for understanding real-world topics
and business
Topics
• Interest rates
• Important for business, for
investments and for individuals.
• Can they be predicted?
NOK and the oil price
How to incentivise CEOs?
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Fixed salary?
Bonus?
Size?
Turnover?
Profits?
Options?
Government spending
• How much should
Norway spend of our
pension fund?
Housing prices
Business cycles
• Financial crisis hit
Europe hard.
Euro area GDP per capita
39500
39000
38500
38000
37500
37000
36500
2004
2006
2008
2010
2012
2014
2016
Growth in long term
• Ups and downs are
on average small in
the long run
Euro area GDP per capita
45000
40000
35000
30000
25000
20000
15000
10000
5000
0
1950
1960
1970
1980
1990
2000
2010
2020
What do we require?
• Interest and curiousity
• Critical thought, critical questions and effort.
• Analytical skills
• Theories formulated as models
• Interest for quantitative analysis
• Use of empirical methods/econometrics
Difficult? Not more than other
disciplines
Carreer opportunities
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Business related jobs
Chief economists/macro analysts
Central bank, banks, finance
Consultancy, Telenor
Norwegian competition authority (Konkurrransetilsynet)
International organizations
Government and ministries
Research
Double degree
• Cooperation between four
European partners:
• University of Amsterdam,
• University of Ljubljana,
• University Pompeu Fabra (Barcelona)
Department of economics
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Strong academic department
Leading researchers
International cooperation
Cooperation with government and business
• Cover most fields in economics
• Superior teachers and supervisors
Structure
Semester
6 ECTS
1. semester
GRA 6035 Mathematics
CORE
2. semester
3. semester
4. semester
6 ECTS
6 ECTS
6 ECTS
GRA 6039 GRA 6031 GRA 6634 Statistics with
Microeconomic Advanced
Econometrics
s
Macroeconomic and
CORE
s
Programming
CORE
GRA 6648 GRA 6038 Research
GRA 6639 –
GRA 1305 Applied
Methodology
Business
Industrial
Business Ethics
Economics
Cycles
Economics
CORE
CORE
Electives (*GRA6649/GRA6664/GRA 6665/GRA 6666)
GRA 6631 Monetary Policy
GRA 1950 - Master Thesis
and Financial
Stability
6 ECTS
GRA 6626 Economic
Theory
GRA 6612 –
Applied
Microeconomic
s
GRA 1950 Master Thesis
3. semester
• Exchange
• Internship
• Electives
Learn more
• https://www.bi.edu/programmes-andindividual-courses/masterprogrammes/business/major-ineconomics/
Master thesis
• The financial crises and the real economy
• Does the central bank react to bubbles in the housing market?
• How does the exchange rate respond to news in an open economy
under inflation targeting?
• R&D and growth: A firm level investigation of the Norwegian
manufacturing industry
• Exchange rate forecasting with model averaging
• Monetary Policy in USA: commitment or discretion?
• Growth models with energy
• FDI and development
• FDI and corruption
Master thesis
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Counts 30 credits
Cooperation
Seminar in March (faculty present themselves)
June: Choose topic and supervisor
January: Submit preliminary
February: Master thesis seminar
Summer: Submit final thesis.
Topics:
• All topics where you can use economics methodology.
We want to talk to you!
• Come to our office !
• Contact us
• [email protected]
• https://www.bi.no/forskning/finn-institutt-ogforskningssenter/institutter/institutt-forsamfunnsokonomi/
You could be the one
amongst these !