Macroeconomics 15 credits
About the course
The overall purpose of this course is to introduce the student to macroeconomic theory, i.e. to provide a good understanding of how the economy works in the short- and long-run, and to analyze the possibilities and limitations of fiscal and monetary policy. The course consists of three modules.
Module 1: Economic growth, distribution, and sustainability (5 hp)
The module begins with an introduction to long run economic growth and related questions such as distribution of income, living standards and sustainability. This is followed by a review of concepts that are central to analyzing long-term growth such as aggregate savings, capital accumulation and technological development. The module also covers topics related to technological change and its impact on the labor market and living standards.
Module 2: The labor market and the financial sector (5 hp)
In this module we focus on the basic cornerstones of macroeconomic analysis, starting by introducing the labor market and its role for understanding the supply side of the economy. Then the money market and the central bank's role in the economy are covered. In this context, interest rate formation, the connection between the private banking system and the central bank. This module also covers basic concepts of asset pricing as well as asset market bubbles.
Module 3: Macroeconomic policy (5 hp)
This module covers economic shocks and cyclical fluctuations and the role of fiscal and monetary policy. Here, models are introduced that can be used to analyze aggregate supply and aggregate demand in the short and medium term. This part of the course also deals with the open economy and how real and financial flows are reflected in the balance of payments. Exchange rate determination and international financial markets are also covered. Various economic crises and how the economic-political framework can be designed are also studied in this module.
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Spring 2026
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Macroeconomics
Second admissions round for EU/EEA citizens
Spring 2026 / Umeå / English / On site
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Starts19 February 2026
Ends3 May 2026
Number of credits15 credits
Type of studiesOn site
Study pace100%
Teaching hoursDaytime
Study locationUmeå
LanguageEnglish
Application codeUMU-22104
SelectionResults-National university aptitude test-Academic credits
ApplicationOnline applications are now open. Application deadline is 15 October 2025. Please note: This second application round is intended only for EU/EEA/Swiss citizens.
Application and tuition feesAs a citizen of a country outside the European Union (EU), the European Economic Area (EEA) or Switzerland, you are required to pay application and tuition fees for studies at Umeå University.
Application fee: SEK 900
Tuition fee, first instalment: SEK 24,150
Total fee: SEK 24,150
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How to apply
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