EC1B3      Half Unit
Macroeconomics I

This information is for the 2021/22 session.

Teacher responsible

Dr Antonio Mele 32L.1.22


This course is compulsory on the BSc in Actuarial Science, BSc in Economics and Economic History, BSc in Environmental Policy with Economics, BSc in Finance, BSc in Financial Mathematics and Statistics, BSc in Geography with Economics, BSc in International Social and Public Policy and Economics, BSc in Management, BSc in Mathematics and Economics, BSc in Mathematics with Economics, BSc in Philosophy and Economics, BSc in Philosophy, Politics and Economics and BSc in Politics and Economics. This course is available on the BA in Geography, BSc in Accounting and Finance, BSc in Data Science, BSc in Economic History and Geography, BSc in Environment and Development, BSc in Mathematics, Statistics and Business, BSc in Politics and BSc in Politics and International Relations. This course is available with permission as an outside option to students on other programmes where regulations permit and to General Course students.

This course cannot be taken with EC1B5 Macroeconomics I.


Students must have completed Microeconomics I (EC1A3).

A-level mathematics, or equivalent.

Course content

This course is an introduction to macroeconomic analysis. We will study how countries’ economic performance is determined in the short and the long run. We will learn about why we observe economic growth and development for some countries but not for others, and why economic activity fluctuates over time (booms and recessions). We will also cover the role of policy and how it affects the economy. Emphasis will be given to concepts and tools used by macroeconomists in the analysis of macroeconomic phenomena.

This course, in combination with either EC1A3 or EC1A5, exempts those who complete them from BA1 Fundamentals of Business Economics of the Chartered Institute of Management Accountants (CIMA).

This course, combined with EC1A3, 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 totalling 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.

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 can consult, among others, the following textbooks:

  • S. Williamson, Macroeconomics, Pearson, 6th Global Edition.
  • G. Mankiw, Macroeconomics, Worth, 8th or more recent editions.
  • O. Blanchard, Macroeconomics, Pearson, 7th Global Edition.


Exam (90%, duration: 2 hours) in the summer exam period.
Coursework (10%) in the LT.

Course selection videos

Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.

Important information in response to COVID-19

Please note that during 2021/22 academic year some variation to teaching and learning activities may be required to respond to changes in public health advice and/or to account for the differing needs of students in attendance on campus and those who might be studying online. For example, this may involve changes to the mode of teaching delivery and/or the format or weighting of assessments. Changes will only be made if required and students will be notified about any changes to teaching or assessment plans at the earliest opportunity.

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
  • Communication