Dr Antonio Mele 32L.1.22

This course is compulsory on the BSc in Actuarial Science, BSc in Economics and Economic History, 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 Economics, BSc in Philosophy and Economics, BSc in Philosophy, Politics and Economics 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 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.

Students must have completed Microeconomics I (EC1A3).

A-level mathematics, or equivalent.

This course is an introduction to macroeconomic analysis. We will study how countries’ economic performance is determined in the short and the long run. We will learn about why we observe economic growth and development for some countries but not for others, and why economic activity fluctuates over time (booms and recessions). We will also cover the role of policy and how it affects the economy. 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).

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

There will be a reading week in Week 6 of LT 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 Lent Term. This year, some or all of this teaching will be delivered through a combination of virtual classes, live streamed (recorded) lectures, and some flipped content delivered as short online videos.

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

There is no set textbook for the course. Lecture material may occasionally be complemented by supplementary readings.

Students wishing to complement their study can consult, among others, the following textbooks:

• S. Williamson, Macroeconomics, Pearson, 6th Global Edition.
• G. Mankiw, Macroeconomics, Worth, 8th or more recent editions.
• O. Blanchard, Macroeconomics, Pearson, 7th Global Edition.

Exam (90%, duration: 2 hours) in the summer exam period.
Coursework (10%) in the LT.

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