EC102: Introductory Macroeconomics

What causes inflation? How do states drive economic growth? What impacts unemployment levels? These are some of the important questions macroeconomics seeks to address.

Having a strong understanding of macroeconomics is therefore critical for any leader in the public or private sector. Not only does it help policymakers determine monetary and fiscal policy, it also helps business leaders refine their strategy in different global markets.

This course takes both a short and long-term view of the economy, helping you understand recent developments in macroeconomics using graphic analysis and simple algebra. It focuses on the stylised facts of business cycle fluctuations, economic growth and unemployment. Embedding your learning through the analysis of real-world situations, including the European Monetary Union, the European Crisis and the Great Recession, you will discuss how modern macroeconomics can shed light on these important areas and evaluate the scope for policy to improve macroeconomic performance.

Engaging with leading faculty and your peers, you will delve into some of the most pressing global challenges, and how the study of macroeconomics can help solve them. Through application of the content to real-world situations, you will walk away with the analytical skills you need to interpret and understand major global macroeconomic changes and how they impact local markets.

Prerequisites: A Working knowledge of mathematics (i.e. elementary calculus) is required.

Level: 100 level. Read more information on levels in our FAQs

Fees: Please see Fees and payments

Lectures: 36 hours

Classes: 18 hours

Assessment: Two written examinations

Typical credit: 3-4 credits (US) 7.5 ECTS points (EU)

Please note: Assessment is optional but may be required for credit by your home institution. Your home institution will be able to advise how you can meet their credit requirements. For more information on exams and credit, read Teaching and assessment

This course is suitable if you have no prior experience in the subject and want an introduction to the field of macroeconomics. It is equally suited if you are interested in pursuing further studies in economics, or want to broaden your understanding of the world through the discipline. You should consider taking this course if you want to pursue a career in policy development, government, consulting or business management. 

• Understand recent developments in macroeconomics using graphic analysis and simple algebra
• Assess the determination and division of national income
• Discuss labour market flows and the determination of frictional unemployment
• Interpret the design and effects of monetary and fiscal policy on economic outcomes
• Apply macroeconomic models using real-world data to test economic theories

The design of this course is guided by LSE faculty, as well as industry experts, who will share their experience and in-depth knowledge with you throughout the course.