EC1B1      Half Unit
Macroeconomics I

This information is for the 2021/22 session.

Teacher responsible

Dr Jonathon Hazell, 32L.1.22


This course is available on the BSc in Econometrics and Mathematical Economics and BSc in Economics. This course is not available as an outside option nor to General Course students.


Students must have completed Economics (EC1P1) and Elementary Statistical Theory I (ST109).

Students must also either have completed Quantitative Methods (Mathematics) (MA107) or else be taking Mathematical Methods (MA100) alongside.

Course content

This course builds on the knowledge learned in EC1P1. You will learn why economic activity fluctuates over time (business cycles). We will discuss how government policy can affect short-term outcomes, such as unemployment, GDP and inflation. Other topics will include inequality and financial crises. We will apply the tools developed in the course to recent events, as well as historical events such as the Great Depression. An important aspect of the course is a coding exercise with data. This will help you acquire a deeper understanding of the material.

EC1B1, in combination with EC1A1, contributes towards certificate level exemptions from professional Chartered Institute of Management Accountants (CIMA) examinations.

This course, combined with EC1A1, contributes to the CB2 Exemption of the Institute and Faculty of Actuaries (IFoA).


20 hours of lectures and 9 hours of classes in the LT. 1 hour of classes in the ST.

There will be a reading week in Week 6 of LT only (no lectures or classes that week).

This course is delivered through a combination of classes and lectures totaling a minimum of 30 hours across Lent Term. This year, some or all of this teaching will be delivered through a combination of virtual classes, live streamed (recorded) lectures, and some flipped content delivered as short online videos.

Formative coursework

There will be weekly assignments and feedback will be given on two.

The coursework will be a set of coding exercises, with data, in Python. This is a group project and the course will teach you the necessary programming skills.

Indicative reading

There is no set textbook for the course. Lecture material may occasionally be complemented by supplementary readings.

Students wishing to complement their study should consult the following textbook:

  • C. Jones, Macroeconomics, W.W. Norton & Company, 5th Edition.


Exam (85%, duration: 2 hours) in the summer exam period.
Coursework (15%) in the LT.

Key facts

Department: Economics

Total students 2020/21: Unavailable

Average class size 2020/21: Unavailable

Capped 2020/21: No

Value: Half Unit

Guidelines for interpreting course guide information

Personal development skills

  • Self-management
  • Team working
  • Problem solving
  • Application of information skills
  • Communication
  • Application of numeracy skills
  • Specialist skills