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EC136: Economics 1: Macro

  • Alexander Karalis Isaac

    Module Leader
15 CATS - Department of Economics

Principal Aims

This module allows students to develop an understanding of fundamental and intermediate concepts in macroeconomic analysis by equipping them with a range of appropriate analytical skills, including descriptive, graphical and mathematical methods. This allows students to develop the capacity to apply analytical techniques to real world problems.

Principal Learning Outcomes

To demonstrate knowledge of economic behaviours, outcomes, trends, developments, phenomena, institutions and policies• To demonstrate an understanding of key concepts, principles, theories and models in Economics• To demonstrate the capacity for abstract reasoning and to simplify economic problems through the application of theoretical models• To demonstrate the capacity to interpret economic data and to use data to inform the selection and application of appropriate economic tools of analysis


Typically, topics covered will include those such as:Macro (Term 2)

• Consumption, saving and investment.

• Aggregate demand, the multiplier and the IS curve

• The labour discipline model of equilibrium unemployment

• Wage setting, inflation and the Phillips Curve

• Social Preferences over inflation and unemployment, the central bank

• Monetary policy stabilisation: central bank responses to economic shocks

• Fiscal policy stabilisation

• Economic growth in historical and global perspective

• The Solow model of economic growth


Core Module
X35B - Year 1
Pre or Co-requisites
This module is available to all students outside the Department of Economics (and other than students in WBS) conditional on: having taken ‘EC137 Economics 1: Micro’ and on having achieved a Grade B or better in Mathematics at A-level, or the equivalent.
Only available to students from outside of Economics, with the stated pre-requisites. Not available to WBS students. Students wishing to take EC136 in the same year as EC137 should instead take EC107.
Part-year Availability for Visiting Students
Not available on a part-year basis


Assessment Method
Coursework (20%) + 1.5 hour examination (Summer) (80%)
Coursework Details
2000 word essay (20%), 1.5 hour examination (Summer) (80%)
Exam Timing

Exam Rubric

Time Allowed: 1.5 Hours

Answer ALL FOUR questions in Section A (60 marks total) and ONE question from Section B (40 marks).

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