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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 the in-course tests (10%) and a two-hour final examination (90%). In the event of resit of this module, in-course test marks will not be carried forward.


MethodPercentage contribution
Exam  (2 hours) 90%
Online test 5%
Online test 2.5%
Online test 2.5%


MethodPercentage contribution
Exam 100%

Repeat Information

Repeat type: Internal & External

Linked modules

Prerequisites: ECON1005 OR ECON1007

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