Macroeconomics 1 (L1056)

15 credits, Level 4

Spring teaching

This module introduces core short-run and medium-run macroeconomics.

First you will consider what determines demand for goods and services in the short run. You will be introduced to financial markets, and outline the links between financial markets and demand for goods. The Keynesian ISLM model encapsulates these linkages. Second, you will turn to medium-term supply. You will bring together the market for labour and the price-setting decisions of firms in order to build an understanding of how inflation and unemployment are determined. Finally, you will look at supply and the ISLM together to produce a full medium-term macroeconomic model.


61%: Lecture
39%: Seminar


20%: Coursework (Test)
80%: Examination (Unseen examination)

Contact hours and workload

This module is 150 hours of work. This breaks down into 27 hours of contact time and 123 hours of independent study.

This module is running in the academic year 2018/19. We also plan to offer it in future academic years. It may become unavailable due to staff availability, student demand or updates to our curriculum. We’ll make sure to let our applicants know of such changes to modules at the earliest opportunity.


This module is offered on the following courses: