This module provides an introduction to macroeconomics – the study of the economy as a whole. Combined with Foundations/Principles of Microeconomics this module will provide an appropriate foundation for subsequent economic modules.
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.