UNIVERSITY OF GLASGOW 
ECON1002: Economics 1B 
Comprehensive Study and Exam Preparation Guide 2025 
 
Part 01: Revision Notes 
Part 02: Sample Final Examination Paper 
Part 03: Detailed Solutions and Explanations 
Part 04: Proven Exam Strategies and Tips 
 
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University of Glasgow - ECON1002: Economics 1B

£25.00

ACADEMIC YEAR 2025 - 2026

University	University of Glasgow
School	Adam Smith Business School
Course Code	ECON1002
Course Name	Economics 1B
Notes Title	Comprehensive Study and Exam Prep. Guide
Page Length	79

Prepare for the exam with the most complete study guide available for the ECON1002: Economics 1B at the University of Glasgow - including exam-style questions, and advice on common examination pitfalls. These notes provide support for learning and revision throughout the course. This self-study set has been thoroughly updated to cover all the topics contained in the latest edition of the exam. The key skills are demonstrated in the context of the core topics of study with expertly written example sets of notes, followed by opportunities to learn and test your knowledge with the sample exam paper and answer key. This guide will help you to take the final examination with complete confidence.

This course follows on from Economics 1A in teaching the basic principles of economics. Its focus is on macroeconomics, and is concerned with levels of output, employment, interest rates and money supply in the national economy as a whole. It also provides a self-contained component on some basic mathematical tools required to follow the standard Level 2 theory sequence in macroeconomics. The general aims of this course are to provide an overall introduction to the working of the economy as a whole, and the purposes and methods of government activity in a "mixed" economy; and to provide a foundation for further study of economics at Level 2.

By the end of this course, students should be able to: (1) outline a model of how aggregate output and the price level are determined; (2) use this model to analyse the impact of various exogenous shocks on the macro economy and the possible role of macroeconomic policy in confronting these, as well as assess how monetary and fiscal policies can be used by governments in order to influence the macro economy; and (3) compare alternative exchange rate regimes and explain why the authorities need to take the exchange rate or balance of payments into account in policy design.

COURSE CODE	COURSE NAME
ACCFIN1001	Introduction to Business Reporting and Financial Accounting
ACCFIN1003	Finance 1
ACCFIN1004	Financial Accounting 1
ACCFIN1006	Introduction to Management Accounting and Control
ACCFIN1016	Introduction to Finance, Investments and Institutions
ACCFIN2002	Finance 2
ACCFIN2003	Financial Accounting 2
ACCFIN2018	Statistical Analysis and Methods
ACCFIN4010	Capital Markets and Portfolio Management
ACCFIN4040	Derivative Securities
ACCFIN4070	Corporate Finance
ACCFIN4079	Econometric Methods for Accounting and Finance
ACCFIN4081	Financial Management
ECON1001	Economics 1A
ECON1002	Economics 1B
ECON2001	Economics 2A
ECON2002	Economics 2B
ECON4003	Econometrics 1: Introduction to Econometrics
ECON4004	Econometrics 2: Multiple Regression and Applications
MGT1025	Current Topics in Marketing

University of Glasgow - ECON1002: Economics 1B

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