Macroeconomics 1 (L1056)
15 credits, Level 4
Macroeconomics 1 introduces core short-run and medium-run macroeconomics. First we study what determines demand for goods and services in the short run. We introduce financial markets and outline the links between financial markets and demand for goods. The Keynesian IS-LM model encapsulates these linkages. Second, we switch to the medium-term supply-side.
We bring together the market for labour to the price-setting decisions of firms in order to build an understanding of how inflation and unemployment are determined. Last, the supply side and the ISLM model are combined to produce a full medium-term macroeconomic model.
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 2019/20. 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.