UNIVERSITY OF LIVERPOOL

ECON123: Principles of Macroeconomics

Final Examination Guide and Notes 2026

Part 01: Revision Notes

Part 02: Sample Final Examination Paper

Part 03: Suggested Solutions to Final Exam Paper

Part 04: Final Examination - Hints and Tips

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University of Liverpool - Principles of Macroeconomics (ECON123)

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ACADEMIC YEAR 2026 - 2027

University	University of Liverpool
Module Code	ECON123
CATS Level	Level 4 FHEQ
CATS Value	15
Module Name	Principles of Macroeconomics
Notes Title	Final Examination Guide and Notes
Page Length	78

This comprehensive revision guide, specifically designed for the ECON123 final examination at the University of Liverpool, provides essential resources for effective preparation. It features up-to-date materials aligned with the syllabus, along with sample exam papers and detailed solutions aimed at enhancing your understanding and exam technique while helping you avoid common pitfalls. Each section is meticulously structured to encourage the practical application of your knowledge during the exam. With its clear and accessible style, this guide is an invaluable resource for students.

This module introduces key macroeconomic concepts, building on Principles of Microeconomics and providing a foundation for further study. It covers national income determination, fiscal and monetary policy, inflation, unemployment, business cycles, and economic growth. Students will learn how macroeconomic policies influence expenditures and national income, analyse economic aggregates over time, and assess government policy in various scenarios. The course also explores the interconnections between goods, money, and labour markets, using graphical and algebraic models to examine macroeconomic trends.

Main topics to be covered include the Keynesian consumption function, the multiplier effect, IS-LM analysis, aggregate demand and supply, inflation, and unemployment theories. Students will also study the role of central banking, money creation, and business cycle theories, including real business cycle and endogenous growth models. By the end of the module, students will be able to interpret economic data, evaluate macroeconomic policies, and apply theoretical models to real-world economic challenges.

This module is a prerequisite for ECON213, ECON223, ECON224, ECON241, ECON242, ECON250, ECON307, and ECON312, ensuring a solid foundation for further economic studies.

MODULE CODE	MODULE NAME
ACFI101	Introduction to Financial Accounting
ACFI102	Introduction to Management Accounting
ACFI103	Introduction to Finance
ACFI201	Financial Reporting 1
ACFI204	Financial Management
ACFI225	Econometrics for Finance 1
ACFI231	Theory of Finance I
ACFI234	Theory of Finance II
ACFI304	Business Finance
ACFI309	Financial Reporting 2
ACFI310	Derivative Securities
ACFI321	Capital Markets
ACFI342	Financial Risk Management
EBUS205	Business Analytics
ECON112	Statistics & Data Analysis for Economics and Business
ECON121	Principles of Microeconomics
ECON123	Principles of Macroeconomics
ECON154	Statistical Foundations of Business Analytics
ECON210	Principles of Economics 2
ECON213	Econometrics 2
ECON222	Microeconomics 2
ECON233	Introductory Econometrics for Business & Economics
ECON241	Securities Markets
MKIB153	Fundamentals of Marketing
ULMS151	Organisations and Management

UKNOTES .

University of Liverpool - Principles of Macroeconomics (ECON123)

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