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AI2106 Business Cycles in Construction and Real Estate Markets 7.5 credits

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For course offering

Autumn 2024 Start 26 Aug 2024 programme students

Application code


Headings with content from the Course syllabus AI2106 (Autumn 2021–) are denoted with an asterisk ( )

Content and learning outcomes

Course contents

Basic macroeconomics: Economic growth, inflation, unemployment, interest rates, consumption, savings, investments, productivity, current account, exchange rates, indebtedness, business cycles, fiscal policy, monetary policy, financial stability.

Real estate cycles and financial cycles: fluctuations in construction, property prices and financial asset prices, financial stability and financial bubbles.

Intended learning outcomes

After passing the course, the student should be able to:

  • describe and explain different macroeconomic concepts,

  • describe, apply and compare various theories of causes of fluctuations in different macroeconomic variables, including fluctuations in asset prices, and how economic stabilization policies can affect and be affected by different types of macroeconomic fluctuations,

  • describe and analyze relationships between financial cycles, real estate cycles and business cycles with empirical and theoretical models,

  • give examples of how knowledge in macroeconomics, real estate cycles and financial cycles can be used to analyze and develop activities that can lead to sustainable economic, environmental and social development,

  • produce and present investigations of economic fluctuations in order to give decision makers knowledge that can lead to more correct decision being made.

Literature and preparations

Specific prerequisites

 Knowledge in quantitative methods equivalent to the content in the course AI2152.

Recommended prerequisites

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No information inserted


Information about course literature is presented in the course PM.

Examination and completion

If the course is discontinued, students may request to be examined during the following two academic years.

Grading scale

A, B, C, D, E, FX, F


  • TENA - Examination, 4.5 credits, grading scale: A, B, C, D, E, FX, F
  • ÖVN2 - Exercise, 3.0 credits, grading scale: P, F

Based on recommendation from KTH’s coordinator for disabilities, the examiner will decide how to adapt an examination for students with documented disability.

The examiner may apply another examination format when re-examining individual students.

Opportunity to complete the requirements via supplementary examination

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Opportunity to raise an approved grade via renewed examination

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Ethical approach

  • All members of a group are responsible for the group's work.
  • In any assessment, every student shall honestly disclose any help received and sources used.
  • In an oral assessment, every student shall be able to present and answer questions about the entire assignment and solution.

Further information

Course room in Canvas

Registered students find further information about the implementation of the course in the course room in Canvas. A link to the course room can be found under the tab Studies in the Personal menu at the start of the course.

Offered by

Main field of study

Built Environment

Education cycle

Second cycle

Add-on studies

No information inserted


Sviatlana Engerstam (