EC1B5      Half Unit
Macroeconomics I

This information is for the 2022/23 session.

Teacher responsible

Dr L.Rachel Ngai, 32L.1.15


This course is compulsory on the BSc in Economic History. This course is available on the BA in Geography, BSc in Accounting and Finance, BSc in Economic History and Geography, BSc in Environment and Development, BSc in Politics, BSc in Politics and International Relations and BSc in Psychological and Behavioural Science. This course is available as an outside option to students on other programmes where regulations permit and to General Course students.

This course cannot be taken with EC1B3 Macroeconomics I, EC100 Economics A or EC102 Economics B.


Students must have completed Microeconomics I (EC1A5).

Course content

This course is an introductory course in macroeconomics, which is the study of the overall economic performance of countries. You will learn about economic growth, business cycles (booms and recessions), unemployment, inflation, exchange rates, monetary and fiscal policy. We will apply the tools developed in the course to historical and contemporary events.

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 EC1A5, 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).

This course is delivered through a combination of classes and lectures totalling a minimum of 30 hours across Lent Term.  

Formative coursework

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

Indicative reading

  • Macroeconomics – Daron Acemoglu, David I. Laibson, and John A. List (note the content is also part of the textbook Economics by the same authors).


Exam (90%, duration: 2 hours, reading time: 15 minutes) in the summer exam period.
Coursework (10%) in the LT.

Key facts

Department: Economics

Total students 2021/22: 137

Average class size 2021/22: 17

Capped 2021/22: No

Value: Half Unit

Guidelines for interpreting course guide information

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.

Personal development skills

  • Self-management
  • Team working
  • Problem solving
  • Communication