Undergraduate Course


The focus of the course is on the core theoretical ideas that are relevant for contemporary economic policy making. These are illustrated with UK and other international experience.

The topics covered are: macroeconomic theories and their policy implications; macroeconomic shocks and fluctuations; unemployment and inflation; exchange rates, interest rates and current account; intertemporal adjustment, growth theory and monetary and fiscal policy.

There are 20 lectures. Students normally follow a course of 8 complementary tutorials and/or small classes arranged by their college tutors, allowing them to explore the subject in more depth. The central textbook is:

  • Carlin and Soskice Macroeconomics: Imperfections, Institutions and Policies (OUP, 2015).

but the reading list for the course includes a wide range of other books and articles.

Course Convenor

 Martin Ellison