EC33010 - EUROPEAN AND INTERNATIONAL MONETARY SYSTEMS

Module Identifier

EC33010

Module Title

EUROPEAN AND INTERNATIONAL MONETARY SYSTEMS

Academic Year

2005/2006

Co-ordinator

Mr Bruce Morley

Semester

Semester 1

Pre-Requisite

(EC10120 and EC10320) or (EC10510 and EC10610)

Course delivery

Lecture

Seminars / Tutorials

Assessment

Assessment Type	Assessment Length/Details	Proportion
Semester Exam	1.5 Hours	80%
Semester Assessment	1 piece of coursework	20%
Supplementary Assessment	1.5 Hours Examination and/or resubmission of coursework	100%

Learning outcomes

On completion of the module students should:

Have a detailed understanding of the nature of the International and uropean monetary system, its institutions, its contemporary policies, its relationship to both developing and Eastern European countries as well as its future development.

Be able to analyse the problems associated with both the international and European monetary systems and explain the causes of their failure, particularly the failure of the 'Bretton-Woods' system and the UK's leaving the Exchange Rate Mechanism.

Be able to apply simple economic and practical models to the problems of countries coordinating their policies, as well as the arguments for and against European economic integration.

Appraise the European single currency and its recent performance.

Aims

The module aims to provide students with an advanced understanding of the monetary and political interdependence of countries and trading blocs in their historical and institutional framework. The emphasis will be on the main changes to which the international and European monetary systems have been subject during the last twenty years.

Brief description

This module investigates the international and European monetary system, with respect to their recent development and problems.

Content

The Bretton-Woods system
Fixed versus flexible exchange rates
Eurocurrency markets
International macroeconomic coordinators
Debt crisis
Maastricht criteria
European Central Bank

Transferable skills

Independent work on assessed coursework requiring basic researching skills
Contribution to seminar discussion and debate
General economic and financial analysis of contemporary issues

Reading Lists

Books
** Recommended Text
P de Graune (1999) The Economics of Monetary Integration 2nd edition. Oxford
P de Graune (1996) International Money: Post War Trends 2nd edition. Oxford
M Melvin (1996) Interntaional Money and Finance 4th edition. Harper Collins
K Pilbeam (1998) International Finance 2nd edition. Macmillan

Notes

This module is at CQFW Level 6