The purpose of this course is to introduce students to the understanding and analysis of countries’ macroeconomic performance. This is the study of how aggregate economic variables - such as gross domestic product (GDP), inflation, and unemployment - change over time, and how governments and central banks can influence their behaviour. The first part of the course focuses on the definition of the main aggregate variables and identifies their key determinants. Subsequently, theories emphasizing the role of aggregate demand are introduced to highlight the role of fiscal and monetary policies. Afterwards, the supply side of the economy is introduced and we study how the demand and supply side interact taking into account the role of economic agents’ expectations. By the end of the module, the link between economic theories and policy choices will be clarified.

The module will begin with an introduction to macroeconomic terminology and concepts. It will then cover topics such as measuring national income, the cost of living and unemployment. The module then examines the model of aggregate demand and supply followed by issues related tax and fiscal policy. The second half of the module will initially focus on issues related to money and banking, the European Central Bank (ECB) and monetary policy as well as the influence of monetary and fiscal policy on aggregate demand. Finally, the module concludes by examining the short-run trade-off between Inflation and Unemployment.

On successful Completion of this module the student will be able to: 1. Describe the key principles underlying the macroeconomy 2. Explain aggregate variables such as GDP, inflation and unemployment behave, and how the government, and the European Central Bank, can influence their behaviour. 3. Evaluate the effects of fiscal and monetary policy decisions. 4. Analyse the main debates concerning the effectiveness of different macroeconomic policies.

On successful Completion of this module the student will be able to: 1. Discuss contemporary issues in macroeconomics. 2. Demonstrate awareness of the interaction of climate change, sustainability and the the macroeconomy

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The module is delivered using the standard lecture/tutorial framework. Although this is an introductory foundation module it aspires to develop your critical thinking abilities, not merely through the mastery of macroeconomic concepts and techniques but also through a questioning approach to the body of knowledge which is facilitated primarily in the interactive smaller group weekly tutorial sessions. A key pedagogical strategy is to base the lectures on data and examples from the Irish, European and global economy thus providing where possible an international dimension to this introductory module. A key feature of the module is that you are actively involved throughout. To this end, you should engage with the lecture material delivered in person each week and complete the required chapter readings, participate in your small group interactive tutorial sessions, and undertake your allocated readings. All of these ‘learning by doing’ experiences equip you with the techniques necessary to identify and appraise critical issues in microeconomics. Participation in tutorials is an essential and integral part of the learning process both for those of you who have studied economics already as well as for those taking it up for the first time. The University of Limerick Graduate Attributes will be developed by: Developing students' curiosity through an encouragement of critical thinking and a deepening of knowledge relating to global events; emphasising student's responsibility to organise their time in an efficient manner and to work to specific deadlines.