|Delivery length / details
|5 x 1 Hour Seminars
|11 x 2 Hour Lectures
|Assessment length / details
|3 Hours Unseen written examination
|Coursework (essay) 2,000 words
|3 Hours Unseen written examination Repeat failed element
|Coursework (essay) 2,000 words Repeat failed element
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.
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.
This module presents the core intermediate level macroeconomics, including the standard second year monetary, open economy and aggregate supply/demand topics.
- Closed Economy IS/LM model
- Open economy IS/LM/BP model.
- Demand for Money
- Aggregate Supply
- Consumption/ Investment Functions
- Time consistency
- Growth Theory
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.
This module is at CQFW Level 6