Intermediate Macroeconomics

Module code: ECN202

The purpose of this module is to provide students with a thorough analysis of the intermediate macroeconomic theory concerning aggregate expenditure functions, expectations, inflation, economic growth and open-economy macroeconomics.

Aims of the module

The aims of the module are:

  • to build upon students' first-year knowledge of macroeconomics
  • to provide an in-depth analysis and appreciation of the major themes in intermediate macroeconomic theory
  • to examine the policy implications of macroeconomic theory
  • to enhance students' ability for critical thinking and confidence in economic analysis

Learning objectives

On completion of the course students will have:

  • a greater understanding of current economic theory
  • acquired further analytical skills for examining macroeconomic models
  • a greater understanding of the link between the theory and empirical work


1. Measurement/Intro Issues

2. Basic macroeconomic models: consumption/leisure choice; closed economy one period-macro models; and models of search and unemployment.

3. Savings, investment and government deficits: consumption/savings choice (two-period model); credit market imperfections; real intertemporal model with investment.

4. Money are business cycles: flexible price models; New Keynesian economics (sticky prices); Phillips curve.

5. International macroeconomics: international trade; money in open economy.

6. Economic growth: growth theory facts; Malthus and Solow growth models; convergence; endogenous growth: human capital.

Teaching methods

One (one-hour) lecture per week throughout the academic year; four workshops and three tutorials every semester



Two unseen examinations.

Basic reading

We advise you not to buy books before the module begins, as the reading list may change. If you wish to read in advance, look for this text in the University library

Williamson, S. Macroeconomics, Global Edition, 6th Edition, Pearson.

Prerequisites ECN130 and either ECN118, ECN119 or equivalent MAS units

Module leader Christoph Thoenissen

Please note that the leader may change before the module begins

Semester Academic year

Credits 20