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EC202: Intermediate Macroeconomics


Course content

This course aims to bring you up to date with modern developments in macroeconomic theory and offer fresh perspectives on the macroeconomic challenges of the day. The course is essentially structured around a series of key questions:

  • What are the forces that drive long-term prosperity?
  • What are the features of labour markets that make them special, and why does unemployment occur?
  • How should households and firms make plans for the future?
  • What are the consequences of high levels of government debt?
  • What are central banks and how do they control interest rates?
  • What are the functions of financial markets, and why are financial crises so violent?
  • Why does economic activity fluctuate and what does austerity have to do with recessions?
  • Can fiscal and monetary policy fine-tune the economy?

The approach of the course is to discuss the salient features of the data and then go on to present macroeconomic models to study these issues.

Topics covered

  • Macroeconomic measurement and data
  • The labour market
  • Economic growth
  • Consumption and saving
  • Investment
  • Unemployment
  • A dynamic macroeconomic model
  • Money and interest rates
  • Financial markets
  • Business cycles and stabilisation policy
  • The limits of fiscal and monetary policy

World-class LSE teaching              

The LSE Department of Economics is one of the biggest and best in the world, with expertise across the full spectrum of mainstream economics. A long-standing commitment to remaining at the cutting edge of developments in the field has ensured the lasting impact of its work on the discipline as a whole.

It is a leading research department, consistently ranked in the top 20 economics departments worldwide. This is reflected in the 2014 Research Assessment exercise which recognised the Department's outstanding contribution to the field

On this three week intensive programme, you will engage with and learn from full-time lecturers from the LSE’s economics faculty.


For the first part of the course, chapters from S. Williamson, Macroeconomics, 5th ed., Pearson (2013), and D. Weil, Economic Growth, 2nd ed., Prentice Hall (2008). For the second part of the course, O. Blanchard and D.R. Johnson, Macroeconomics, 6th ed., Pearson (2012).

These readings are available in a combined package from the Economists’ Bookshop at LSE.

*A more detailed reading list will be supplied prior to the start of the programme

**Course content, faculty and dates may be subject to change without prior notice



Session: Two *Course Full*

Dates: 10 - 28 July 2017

Dr Kevin Sheedy
Professor Ricardo Reis

Level: 200 level

Fees: Click here for information

Prerequisites: Introductory macroeconomics and microeconomics, multivariate calculus (in particular, constrained optimisation)

Lectures: 36 hours 

Classes: 18 hours

Assessment*: Two written examinations

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

How to apply?

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*assessment is optional – see FAQs

**You will need to check with your home institution. Read more about credit transfer here.