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Introduction to Economic Policy

Module Code: EC1141

Module Name: Introduction to Economic Policy B

  • ECTS Weighting: 5
  • Semester/Term Taught: Hilary Term
  • Contact Hours: 22 hours of lectures and 10 hours of tutorials
  • Module Personnel: Lecturers - Michael King

Module Learning Aims

This module aims to provide students with a comprehensive outline of some of the core elements of macroeconomics and their applications. By the end of the module it is hoped that students will be able to use their knowledge of economic theory and policy so as to have a better understanding of how an economy functions

Module Content

The module is divided into four sections, each comprising three topics.

Hilary Term

A. Macroeconomics: looking at the economy as a whole

  1. Introduction to Macroeconomics
  2. Circular flow of income
  3. National accounts: GNP and GDP

B. The real economy

  1. Business cycles
  2. Fiscal policy
  3. Employment and unemployment

C. The monetary economy

  1. Money and banking
  2. Inflation
  3. Monetary policy

D. Economic growth

  1. Factors of production
  2. Productivity
  3. Technology

Learning Outcomes

On successful completion of the this course, you will be able to:

  • Understand the basic structure of the economy
  • Explain fiscal policy
  • Explain monetary policy
  • Understand employment and unemployment
  • Discuss economic growth

Recommended Reading List

Gregory Mankiw and Mark P. Taylor's Economics (South-western: Cengage learning) 3rd Edition is recommended.

Assessment Details

A mid-term test (multiple choice) worth 30% and an end-of-year exam worth 70%.

Module Website