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721350S International Macroeconomics and Finance, 6 ECTS cr 
Code 721350S  Validity 01.08.2019 -
Name International Macroeconomics and Finance  Abbreviation International M 
Scope6 ECTS cr   
TypeAdvanced Studies Discipline6311 Economics 
  Grading1 - 5, pass, fail 
Unit Oulu Business School 

Marko Korhonen 

ECTS Credits 

6 credits

Language of instruction 



Period 3 (year 1)

Learning outcomes 

Student is familiar with topics in international macroeconomics as well as to theories trying to account for the basic stylized facts in the field.


Advanced theoretical and empirical analysis of contemporary international macroeconomic policy issues in both industrialized and developing economies. The topics covered include current account balance, dynamics of small open economy, real exchange rate and the terms of trade, uncertainty and international financial markets. In addition, the issues of monetary union will be covered.

Mode of delivery 

Face-to-face teaching

Learning activities and teaching methods 

14 hours of lectures, 10 hours of student presentations, exam 3 hours, preparing for the lectures, student presentations and exam 124 hours.

Target group 

First year Master’s students

Prerequisites and co-requisites 

Fundamentals of Economics or Fundamentals of Finance

Recommended or required reading 

Feenstra and Taylor (2014): International Economics, part 6, 7 and 8; De Grauwe (2014): Economics of Monetary Union.

Assessment methods and criteria 

Written exam and student presentations


The course utilizes a numerical grading scale 1-5. In the numerical scale zero stands for a fail.

Person responsible 

Marko Korhonen

Working life cooperation 

The world economy impacts global business in increasingly significant ways. After the course students learn what are the impacts of international macroeconomics and international finance on the global business.

Other information 

The number of students is limited


Current and future instruction
Functions Name Type ECTS cr Teacher Schedule
registration period has not begun International Macroeconomics and Finance  Course  Marko Korhonen  13.01.22 -04.03.22

Future examinations
No examinations in WebOodi