Last modified: 07 Nov 2025 11:17
This course is an introductory course in macroeconomics where we study the behaviour of the economy as a whole. Whereas microeconomics focuses on individual markets, macroeconomics addresses the “big issues” such as unemployment, inflation, economic growth, and financial crises. Macroeconomics is a lively subject, full of discussion and debate, as economists and policymakers take different views on macroeconomic issues, their causes and appropriate policy responses. Issues such as: Is the economy growing? What causes unemployment and how can we reduce it? How can we avoid recessions? When is inflation a problem? Are banks lending too much?
| Study Type | Undergraduate | Level | 1 |
|---|---|---|---|
| Term | Second Term | Credit Points | 15 credits (7.5 ECTS credits) |
| Campus | Aberdeen | Sustained Study | No |
| Co-ordinators |
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What are the causes of the current financial crisis and what can governments across the globe do about it? Why is it that certain countries have experienced rapid growth in incomes over the past century whereas others are stuck in severe poverty? Why do some nations have high rates of inflation and others stable prices or deflation? Why is unemployment low in some countries but very high in others? Why do all countries experience periods of economic recession and depression and how can government reduce the size of the associated fluctuations in incomes and employment?
Information on contact teaching time is available from the course guide.
| Assessment Type | Summative | Weighting | 15 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
Duration: 40 minutes |
|||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Apply | Know how to apply the analytical tools acquired during the course to a range of contemporary macroeconomic problems. |
| Conceptual | Evaluate | Demonstrate understanding of the basic macroeconomic issues and problems |
| Assessment Type | Summative | Weighting | 70 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback | ||||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Apply | Know how to apply the analytical tools acquired during the course to a range of contemporary macroeconomic problems. |
| Conceptual | Evaluate | Be able to critically assess the contribution of standard economic theory and be aware of alternative or non-mainstream theories. |
| Conceptual | Evaluate | Demonstrate understanding of the basic macroeconomic issues and problems |
| Conceptual | Understand | Have a sufficient understanding of macroeconomics to enable them to proceed to further study in economics |
| Assessment Type | Summative | Weighting | 15 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
Duration: 40 minutes |
|||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Apply | Know how to apply the analytical tools acquired during the course to a range of contemporary macroeconomic problems. |
| Conceptual | Evaluate | Demonstrate understanding of the basic macroeconomic issues and problems |
There are no assessments for this course.
| Assessment Type | Summative | Weighting | 100 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback | ||||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
|
|
||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Evaluate | Demonstrate understanding of the basic macroeconomic issues and problems |
| Conceptual | Understand | Have a sufficient understanding of macroeconomics to enable them to proceed to further study in economics |
| Conceptual | Apply | Know how to apply the analytical tools acquired during the course to a range of contemporary macroeconomic problems. |
| Conceptual | Evaluate | Be able to critically assess the contribution of standard economic theory and be aware of alternative or non-mainstream theories. |
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