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The University of Southampton

ECON1002 Principles of Macroeconomics

Module Overview

This module provides an introduction to macroeconomics – the study of the economy as a whole. We begin by discussing how we measure economic activity at the aggregate level, including GDP, inflation and unemployment. We then turn to some simple economic models that shed light on economic growth, saving, investment, and the role of the banking sector. The module concludes with the uses and limitations of monetary and fiscal policy.

Aims and Objectives

Learning Outcomes

Learning Outcomes

Having successfully completed this module you will be able to:

  • Solve new problems using mathematics and economic reasoning
  • Communicate economic ideas via diagrams and in writing


1. What is Macroeconomics? 2. Inflation and Unemployment 3. Economic Growth 4. The Financial System 5. Money and Banking 6. Fiscal Policy 7. Monetary Policy

Learning and Teaching

Teaching and learning methods

Lectures and classes.

Independent Study118
Total study time150

Resources & Reading list

The main course reading is an Ebook which is made available on Blackboard in pdf format. Additional resources for each topic will be posted on Blackboard.. 


Assessment Strategy

The method of assessment for this module is based on continuous successful participation in coursework (15%) and an end of semester examination (85%). In the event of resit of this module, coursework test marks will not be carried forward.


MethodPercentage contribution
Coursework 15%
Exam 85%


MethodPercentage contribution
Exam 100%


MethodPercentage contribution
Exam 100%

Repeat Information

Repeat type: Internal & External

Linked modules

Prerequisites: ECON1005 OR ECON1008


Costs associated with this module

Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.

In addition to this, students registered for this module typically also have to pay for:

Books and Stationery equipment

Recommended texts for this module may be available in limited supply in the University Library and students may wish to purchase reading texts as appropriate.

Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at

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