Gwybodaeth Modiwlau

Module Identifier
EC30300
Module Title
MACROECONOMIC BEHAVIOUR AND SYSTEMS
Academic Year
2008/2009
Co-ordinator
Dr Kobil Ruziev
Semester
Semester 1
Pre-Requisite
EC10120
Pre-Requisite
EC10910
Pre-Requisite
EC10320

Course Delivery

Delivery Type Delivery length / details
Lecture 20 Hours.
Seminars / Tutorials 6 Hours.
 

Assessment

Assessment Type Assessment length / details Proportion
Semester Assessment 2 pieces of coursework  20%
Semester Exam 2 Hours   80%
Supplementary Assessment 2 Hours   examination and /or resubmission of coursework  100%

Learning Outcomes

On successful completion of this module students should be able to:

* Have gained a detailed understanding of how the open economy poerates, particularly with regard to exchange rate determination: The effectiveness of monetary and fiscal policy, exchange rate overshooting, capital mobility and the importance of expectations in the foreign exchange markets.

* Be familiar with basic linear dynamic methods for analysing the behaviour of the exchange rate in the Dornbusch model and the effectiveness of policy actions, with regard to time inconsistency

* Have an appreciation of how the theory can be applied to contemporary issues in macroeconomics, such as the european monetary system and growth theory.

Aims

The overall aim of the module is to provide students with a thorough grounding in aggregate economic behaviour at an intermediate level. This will build on the foundations provided in EC10320, Macroeconomic Principles & Models. In particular the module focuses on the theoretical explanations of how the macroeconomy works, as well as relevant policy issues. Having completed this course, you will be in a position to proceed, in your third year, to the study of EC30810, Topics in Macroeconomics.

Brief description

This module presents the core intermediate level macroeconomics, including the standard second year monetary, open economy and aggregate supply/demand topics.

Content

  • Closed Economy IS/LM model
  • Open economy IS/LM/BP model.
  • Demand for Money
  • Aggregate Supply
  • Consumption/ Investment Functions
  • Time consistency
  • Growth Theory

Transferable skills

Independent work on assessed coursework requiring basic researching skills.
General economic and financial analysis of contemporary issues.
Use of the computer to assess the relevant sites on the internet such as the Bank of England.

Reading List

General Text
Blanchard, Olivier (c2006.) Macroeconomics /Olivier Blanchard. Pearson/Prentice Hall Primo search Gordon, Robert J. (c2006.) Macroeconomics /Robert J. Gordon. Pearson/Addison Wesley Primo search Pilbeam, Keith (2006.) International finance /Keith Pilbeam. Palgrave Macmillan Primo search Shaw, G. K. (1997.) Macroeconomics :theory and policy in the UK /G.K. Shaw, Mike McCrostie, and David Greenaway. Blackwell Primo search Recommended Text
Caves, R E, J A Frankel and R W Jones (2007) World Trade and Payments 10th Edition Addison Wesley, Pearson Primo search Mankiw, N. Gregory. (c2007.) Macroeconomics /N. Gregory Mankiw. Worth Primo search

Notes

This module is at CQFW Level 6