ÐÓ°ÉÂÛ̳

 

EC1B3      Half Unit
Macroeconomics I

This information is for the 2024/25 session.

Teacher responsible

Dr Antonio Mele SAL.4.29

Availability

This course is compulsory on the BSc in Actuarial Science, BSc in Economics and Economic History, BSc in Environment and Sustainable Development with Economics, BSc in Environmental Policy with Economics, BSc in Finance, BSc in Financial Mathematics and Statistics, BSc in Geography with Economics, BSc in International Social and Public Policy and Economics, BSc in Management, BSc in Mathematics and Economics, BSc in Mathematics with Data Science, BSc in Mathematics with Economics, BSc in Philosophy and Economics, BSc in Philosophy, Politics and Economics, BSc in Philosophy, Politics and Economics (with a Year Abroad) and BSc in Politics and Economics. This course is available on the BA in Geography, BSc in Accounting and Finance, BSc in Data Science, BSc in Economic History and Geography, BSc in Environment and Development, BSc in Environment and Sustainable Development, BSc in Mathematics, Statistics and Business, BSc in Politics and BSc in Politics and International Relations. This course is available with permission as an outside option to students on other programmes where regulations permit and to General Course students.

This course cannot be taken with EC1B5 Macroeconomics I, EC100 Economics A or EC102 Economics B.

Pre-requisites

Students must have completed Microeconomics I (EC1A3).

A-level mathematics, or equivalent.

Course content

This course is an introduction to macroeconomic analysis. We will study how countries’ economic performance is determined in the long run. We will learn why we observe economic growth and development in some countries but not in others. We will discuss how the labour market works and how unemployment is determined. We will analyse how the largest components of GDP, consumption and investment, are formed. We will also cover the role of policy and how it affects the economy. We will look at fiscal challenges in the long run. Emphasis will be given to concepts and tools used by macroeconomists in the analysis of macroeconomic phenomena. This course, in combination with either EC1A3 or EC1A5, exempts those who complete them from BA1 Fundamentals of Business Economics of the Chartered Institute of Management Accountants (CIMA).

This course, combined with EC1A3, contributes to the CB2 Exemption of the Institute and Faculty of Actuaries (IFoA). 

Teaching

20 hours of lectures and 9 hours of classes in the WT. 1 hour of classes in the ST.

There will be a reading week in Week 6 of WT only (no lectures or classes that week).

This course is delivered through a combination of classes and lectures totalling a minimum of 30 hours across Winter Term and Spring Term.  

Formative coursework

There will be weekly assignments and feedback will be given on two.

Indicative reading

There is no set textbook for the course. The required reading material will sample from the textbooks listed below and it will possibly include e.g. reports from international organisations, academic research articles, video presentations, and academic blog posts. Lecture material may occasionally be complemented by supplementary readings, either required or optional, discussing the topics in more detail.

• Mankiw, G. (2019), Macroeconomics, 10th edition or later, Macmillan, London. Available online on the ÐÓ°ÉÂÛ̳ Library website

• Jones, C. (2020), Macroeconomics (Fifth Edition), 5th Edition or later, W. W. Norton. Available online on the ÐÓ°ÉÂÛ̳ Library website

• Williamson, S. (2019), Macroeconomics, 6th Edition, Pearson Education. Available online on the ÐÓ°ÉÂÛ̳ Library website

Assessment

Exam (90%, duration: 2 hours, reading time: 15 minutes) in the spring exam period.
Coursework (10%) in the WT.

Key facts

Department: Economics

Total students 2023/24: 710

Average class size 2023/24: 15

Capped 2023/24: No

Value: Half Unit

Course selection videos

Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.

Personal development skills

  • Self-management
  • Team working
  • Problem solving
  • Communication