EC1B1 Half Unit
Macroeconomics I
This information is for the 2024/25 session.
Teacher responsible
Dr Jonathon Hazell, SAL.1.10
Availability
This course is available on the BSc in Econometrics and Mathematical Economics and BSc in Economics. This course is not available as an outside option nor to General Course students.
Pre-requisites
Students must have completed Economic Reasoning (EC1P1) and Elementary Statistical Theory I (ST109).
Students must also either have completed Methods in Calculus and Linear Algebra (MA108) or else be taking Mathematical Methods (MA100) alongside.
Course content
This course builds on the knowledge learned in EC1P1. You will learn why economic activity fluctuates over time (business cycles). We will discuss how government policy can affect short-term outcomes, such as unemployment, GDP and inflation. Other topics will include inequality and financial crises. We will apply the tools developed in the course to recent events, as well as historical events such as the Great Depression. An important aspect of the course is a coding exercise with data. This will help you acquire a deeper understanding of the material.
EC1B1, in combination with EC1A1, contributes towards certificate level exemptions from professional Chartered Institute of Management Accountants (CIMA) examinations.
This course, combined with EC1A1, 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.
The coursework will be a set of coding exercises, with data, in Python. This is a group project and the course will teach you the necessary programming skills.
Indicative reading
There is no set textbook for the course. Lecture material may occasionally be complemented by supplementary readings.
Students wishing to complement their study should consult the following textbook:
- C. Jones, Macroeconomics, W.W. Norton & Company, 5th Edition.
Assessment
Exam (85%, duration: 2 hours, reading time: 15 minutes) in the spring exam period.
Coursework (15%) in the WT.
Key facts
Department: Economics
Total students 2023/24: 184
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
- Application of information skills
- Communication
- Application of numeracy skills
- Specialist skills