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Last modified: 22 May 2019 17:07

Course Overview

This course focuses on macroeconomic policy in a global economy. The first part builds an open-economy Keynesian model to investigate what determines the effectiveness of fiscal and monetary policies, and how exchange rate regimes and capital mobility impact on policy effectiveness. The second part investigates what determines the level of macroeconomic activity and its growth over time. The final part looks at what determines inflation and unemployment. This intermediate level course uses live lectures to develop your analytical skills evaluating economic policy in a rigorous and technical way to equip you with the skills needed for honours level study.

Course Details

Study Type Undergraduate Level 2
Session Second Sub Session Credit Points 30 credits (15 ECTS credits)
Campus None. Sustained Study No
  • Professor David McCausland

Qualification Prerequisites

  • Programme Level 2

What courses & programmes must have been taken before this course?

What other courses must be taken with this course?


What courses cannot be taken with this course?


Are there a limited number of places available?


Course Description

Macroeconomics is the branch of economics that seeks to answer such high level questions as: What determines the level of aggregate income? Through what channels is it influenced by the fiscal policy of national governments and the monetary policies of central banks? What determines the effectiveness of fiscal and monetary policies, and how do exchange rate regimes and capital mobility impact on policy effectiveness. What determines the level of macroeconomic activity and its growth or decay over time? What determines inflation and unemployment?

This course will equip you with the principles you need to make sense out of the conflicting and contradictory discussions and policies. It is designed to meet the interests of those wishing merely to take a further course in economics as well as those intending to proceed to honours. This course builds on, and is a natural extension of The Global Economy (EC 1505). It will further develop your analytical skills, and will investigate in a more rigorous and analytical way concepts introduced in EC 1505, so that you are able to study interesting and challenging problems in the global economy.

In light of Covid-19 this information is indicative and may be subject to change.

Contact Teaching Time

Information on contact teaching time is available from the course guide.

Teaching Breakdown

  • 1 Computer Practical during University weeks 30 - 31
  • 3 Lectures during University weeks 25 - 35
  • 1 Tutorial during University weeks 28, 29, 30, 31, 32, 33, 34, 35

More Information about Week Numbers

In light of Covid-19 and the move to blended learning delivery the assessment information advertised for second half-session courses may be subject to change. All updates for second-half session courses will be actioned in advance of the second half-session teaching starting. Please check back regularly for updates.

Summative Assessments

1st Attempt:

2-hour examination (70%)

Computer aided assessment (20%)

Graded tutotial presentation (10%)


Resit: 1 two-hour written examination (100%).

Formative Assessment

This will take place via tutorial discussions and via a "trial (computer aided) assessment" in the computer workshop.


Feedback is given in the trial computer aided assessment on a question-by-question basis, giving students guidance on how to approach the question successfully. Oral feedback is given on the tutorial presentation.

On a less formal basis, via verbal feedback during tutorial discussions, and after tutorial presentations. Presentation slides and notes are submitted through WebCT and are available to the external examiner.

Course Learning Outcomes


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