|Delivery Type||Delivery length / details|
|Seminars / Tutorials||6 Hours.|
|Assessment Type||Assessment length / details||Proportion|
|Supplementary Exam||2 Hours Supplementary examination Repeat Failed Elements or equivalent Repeat failed element||80%|
|Supplementary Assessment||Supplementary assessment Repeat failed element||20%|
|Semester Assessment||2 pieces of coursework||20%|
|Semester Exam||2 Hours||80%|
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.
Reading ListGeneral 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
This module is at CQFW Level 6