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 (Multiple choice questions)
Contact hours and workload
This module is approximately 150 hours of work. This breaks down into about 27 hours of contact time and about 123 hours of independent study. The University may make minor variations to the contact hours for operational reasons, including timetabling requirements.
We regularly review our modules to incorporate student feedback, staff expertise, as well as the latest research and teaching methodology. We’re planning to run these modules in the academic year 2022/23. However, there may be changes to these modules in response to COVID-19, staff availability, student demand or updates to our curriculum. We’ll make sure to let our applicants know of material changes to modules at the earliest opportunity.
This module is offered on the following courses: