BSc Economics

This unit aims to provide an introduction to macroeconomics, cover the preparatory material for more specialist courses in the second and third years, and develop key employability skills. Students will gain the ability to describe key macroeconomic events and global issues to a non-economist audience. to issues of contemporary importance.

A-Level Mathematics (compulsory Pre-Requisite).

This course unit is for BA Econ, BSc Econ and PPE students only.

The unit aims to:

· Provide an introduction to macroeconomics.

· Cover the preparatory material for more specialist courses in economics in the second and third years.

· Develop key employability skills, such as engaging with economic magazines and newspaper articles in a critical manner and the ability to describe recent key macroeconomic events and global issues to a non-economist audience

On completion of this unit, successful students will be able to:

· Demonstrate an understanding of introductory macroeconomic principles.

· Apply introductory analytical models to assess macroeconomic policies and interpret their effects.

· Evaluate macroeconomic arguments, theories, data, and policies at an introductory level.

· Communicate macroeconomic concepts and findings effectively in written formats.

The course is structured into four main topics. The first topic covers the measurement of key macroeconomic variables, including GDP, unemployment, and inflation. The second topic focuses on short-run economic fluctuations, examining the goods market, money and financial markets, and the IS-LM model. The third topic addresses medium-run dynamics, covering the labour market, the Phillips Curve, and the IS-LM-PC model. The final topic explores inflation, including its causes and consequences.

Synchronous activities (such as Lectures, Review and Q&A sessions, tutorials), and guided self-study

Strong foundation in the theoretical models and their applications at an introductory level.

Competence in using models to assess real-world issues.

Ability to communicate ideas and arguments in written format, effective time management, ability to work to deadlines and group collaboration.

Tutorial discussion. Quizzes and formative assessments. Office hours and Q&A sessions. Revision sessions. Discussion boards.

Olivier Blanchard, Alessia Amighini and Francesco Giavazzi, Macroeconomics: A European Perspective,  4th edition, Pearson Education Limited, 2021.

Note that this textbook can be viewed online for free through the University library.