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EC136: Economics 1: Macro

  • Alexander Karalis Isaac

    Module Leader
15 CATS - Department of Economics
Spring Module

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

Syllabus

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

Context

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.
Part-year Availability for Visiting Students
Not available on a part-year basis

Assessment

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

Exam Rubric

Time Allowed: 1.5 Hours

Read all instructions carefully- and read through the entire paper at least once before you start entering your answers.

There are TWO Sections in this paper. Answer ALL FOUR questions in Section A (60 marks total) and ONE question in Section B (40 marks).

Approved pocket calculators are allowed.

You should not submit answers to more than the required number of questions. If you do, we will mark the questions in the order that they appear, up to the required number of questions in each section.

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.

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