Economics 2B

Economics 2B

Year: 2018-2019
Course code: ECON2002
Course credits: 20
Taught: Semester 2
Course co-ordinator: Prof Tatiana Kirsanova
Course lecturers: Prof Tatiana Kirsanova and Dr Alexander Kovalenkov
Entry requirements: Grade D or above in Economics 1A and B
Available to visiting students: Yes
Contact for more information: Teodora Racheva

Course description

This is an intermediate Macroeconomics course whose students are largely drawn from those wishing to prepare for Honours in Economics.  The course comprises intermediate Macroeconomics and Economic Data Analysis.


The main aims of this course are:

  • to present macroeconomic theory at an intermediate level.
  • to equip students with basic versions of theoretical models to analyse the conduct of macroeconomic policy in closed and open economies. 
  • to present the different lines of research in the post-WW II history of macroeconomics.
  • to develop a knowledge of, and an ability to use, the basic tools of economic data analysis.


Intended Learning Outcomes

By the end of this course, students should be able to:

  1. analyse macroeconomic implications of monetary and fiscal policies and shocks
  2. analyse and discuss the role of expectations in macroeconomic theory
  3. analyse the relationships among major macroeconomic variables, such as the aggregate output, unemployment, inflation rate, interest rate, exchange rate
  4. apply economic theories to the discussion of macroeconomic issues such as high inflation and high unemployment, financial crises, contemporary issues like Brexit etc. in a coherent manner, based on scholarly literature and policy papers
  5. apply a range of macroeconomic models to the analysis of historical episodes such as severe recessions and financial crises
  6. outline the main directions of research, how economic models were developed and main debates around their assumptions in macroeconomics in post-WW II history
  7. communicate contemporary issues in macroeconomics using appropriate theories to specialists as well as non-specialists, by writing clearly and concisely.


Learning and teaching methods

  • Lectures:  Monday, Tuesday, Thursday and Friday 1300 – 1400.
  • 4 seminars in Economic Data Analysis.
  • Weekly tutorials in Macroeconomics.

Course texts

Olivier Blanchard “Macroeconomics”, Global edition, Pearson. The preferred edition is the 7th edition which is published in December 2016, while the 6th edition is also suitable.

Supplementary text:

Lavoie, M., 2009, Introduction to post-Keynesian economics, 2nd edition(Palgrave). Also available as an e-book



  • Macroeconomics coursework (25%);
  • A 2-hour degree examination (Apr/May) (75%).