Macroeconomic Principles

This information is for the 2017/18 session.

Teacher responsible

Dr Kevin Sheedy 32L1.09

Professor Ricardo Reis 32L1.27


This course is compulsory on the BSc in Economics, BSc in Economics with Economic History, BSc in Geography with Economics, BSc in Government and Economics, BSc in Philosophy and Economics, BSc in Philosophy, Politics and Economics and MSc in Economics (2 Year Programme). This course is available on the BSc in Accounting and Finance, BSc in Business Mathematics and Statistics, BSc in Econometrics and Mathematical Economics, BSc in Economic History with Economics, BSc in Economics and Economic History, BSc in Environmental Policy with Economics, BSc in Management, BSc in Mathematics and Economics, BSc in Mathematics with Economics, BSc in Social Policy and Economics, BSc in Statistics with Finance and Diploma in Accounting and Finance. This course is available as an outside option to students on other programmes where regulations permit and to General Course students.


Students must have completed Economics A (EC100) or Economics B (EC102), or an equivalent introductory course in Economics. Students are also expected to have completed an introductory Mathematics course such as Basic Quantitative Methods (MA110).


Course content

This course will cover the fundamental principles of macroeconomics at an intermediate level. Topics include the study of economic growth, consumption, investment, unemployment, business cycles, inflation, monetary and fiscal policy, financial markets and international macroeconomics.



20 hours of lectures and 10 hours of classes in the MT. 20 hours of lectures and 10 hours of classes in the LT.

Formative coursework

Students are urged to attempt the assigned problems before attending classes. Two pieces of written work per term will be required and marked by class teachers.

Indicative reading

The main textbook for the course is O Blanchard and D R Johnson, Macroeconomics, 6th ed., supplemented by other reading selected by the lecturers. A combined package will be available in the Economists' Bookshop.


Exam (25%, duration: 1 hour, reading time: 15 minutes) in the LT week 0.
Exam (75%, duration: 3 hours, reading time: 15 minutes) in the main exam period.

The Lent term examination is based 100% on the Michaelmas term syllabus, and the Summer exam on 33% of the Michaelmas term syllabus and 67% of the Lent term syllabus.


Key facts

Department: Economics

Total students 2016/17: 609

Average class size 2016/17: 16

Capped 2016/17: No

Lecture capture used 2016/17: Yes (MT & LT)

Value: One Unit

Guidelines for interpreting course guide information

PDAM skills

  • Self-management
  • Problem solving
  • Application of numeracy skills