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EC108: Macroeconomics 1

  • Stefania Paredes Fuentes

    Module Leader
30 CATS - Department of Economics

Principal Aims

This module is an introductory module exploring the fundamental determinants of national income, employment, the price level and the foreign balance in the short and long run within a framework of active learning of economic theory and modelling.

Principal Learning Outcomes

Subject-specific and Professional Key General Skills

Demonstrate a basic understanding of research skills such as:

(i) Data skills: Use of library and internet as information sources. Knowledge of how to locate relevant data, extract appropriate data, analyse and present material.

(ii) Mathematical/Statistical skills: use/application of mathematics and diagrams in economic analysis; understanding of statistical analysis of data;

(iii) Written communication skills

Subject Knowledge and Understanding

(i) Demonstrate a familiarity with a range of macroeconomic issues in breadth and depth.

(ii) Demonstrate a familiarity with the language of macroeconomics and the measurement of macroeconomic aggregates;

(iii) Show an awareness of recent trends in macroeconomic variables and issues in macroeconomic policy;

(iv) the capacity to apply theory to the solution of macroeconomic problems by postulating simple structural models, including definitions, assumptions, and behavioural characteristics of economic agents, using a combination of mathematical and graphical techniques.

Cognitive Skills

Demonstrate capacity for:

(i) Analytical thinking, reasoning and application.

(ii) Critical, creative and strategic thinking.

(iii) Abstraction and Problem solving.

Syllabus

EC108 may include topics on:

1. Macroeconomic data (such as National Accounts; Output, Value Added, GDP Unemployment and Inflation data)

2. Financial Markets

3. Consumption theories

4. Theories of Investment

6. Government Spending

7. Demand side policies

8. Phillips Curve

9. The International Market

10. Inequality

Context

Core Module
L100 - Year 1, L116 - Year 1
Pre or Co-requisites
A-level Mathematics or the equivalent
Pre-requisite for
EC201
Restrictions
This module is restricted to L100 and L116 students
Part-year Availability for Visiting Students
Not available on a part-year basis

Assessment

Assessment Method
Coursework (40%) + 3-hour examination (Summer) (60%)
Coursework Details
Group Video project (5%), Multiple Choice Test (10%), Group Project (15%), Multiple Choice Test (10%), 3-hour examination (Summer) (60%)
Exam Timing
Summer

Exam Rubric

NOTE: New exam rubric in 19/20 – Past papers may follow a different format

Time Allowed: 3 Hours

Answer ALL questions in Section A (50 marks total), TWO questions in Section B (25 marks each) . Answer section A questions in one booklet and Section B in a separate booklet.

Approved pocket calculators are allowed.

Read carefully the instructions on the answer book provided and make sure that the particulars required are entered on each answer book. If you answer more questions than are required and do not indicate which answers should be ignored, we will mark the requisite number of answers in the order in which they appear in the answer book(s): answers beyond that number will not be considered.

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.

Reading Lists