Module Information

Module Identifier
Module Title
Contemporary Issues in Economics and Policy
Academic Year
Semester 1
Other Staff

Course Delivery



Due to Covid-19 students should refer to the module Blackboard pages for assessment details

Assessment Type Assessment length / details Proportion
Semester Assessment Two written essays  2 x 1,000 words (15% each)  30%
Semester Exam 3 Hours   70%
Supplementary Assessment Essay  (2,000 words)  30%
Supplementary Exam 3 Hours   70%

Learning Outcomes

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

1. ​​Distinguish between main schools of macroeconomic thought, evaluate their methodological differences, and critically assess their differences in policy recommendations.

2. Demonstrate an understanding of models of exchange rate determination, explain the relationships between the exchange rate and macroeconomy, and critically evaluate the role, importance and functions of international financial institutions.

3. Apply relevant theory to the analysis of choice under uncertainty, and demonstrate an understanding of the form and implications of asymmetric information, adverse selection and moral hazard;

4.Demonstrate an understanding of game theory concepts and applications.

Brief description

​This module examines selected advanced-level topics in theoretical and applied economics. The first part covers advanced macroeconomic models and theories, such as the Keynesian, Monetarist, and new Keynesian approaches, real business cycle theory, exchange rate determination, and debates concerning the global economy. The second part covers various topics in theoretical and applied microeconomics, relating to choice under conditions of uncertainty, strategic decision-making, and asymmetric information.


​The Keynesian, Monetarist, New Classical, New Keynesian approaches to macroeconomics

Real business cycle theory

Open economy models and exchange rate dynamics

Choice Under conditions of uncertainty

Game theory and strategic behaviour

Asymmetric information

Market failure

Module Skills

Skills Type Skills details
Application of Number Treatment of numerical problems in tutorial exercises, in assignment and examination.
Communication Written communication through essay writing
Improving own Learning and Performance In preparation for, attending and participating in and reflecting on tutorial classes. Preparation and production of assignment, and revision and preparation for the final examination.
Information Technology Appropriate accessing of the internet for reference material. Accessing course information and documents from Blackboard, and use of word-processing skills for the assignment.
Personal Development and Career planning Development of various personal and interpersonal skills, generally transferable in career terms, including initiative, independence and self-awareness - in addition to skills listed above
Problem solving Treated in lectures and applied in tutorials
Research skills Obtaining, selecting, assimilating information from a variety of academic sources for use in essay writing
Subject Specific Skills Application of models and ability to think in the abstract.
Team work Group oriented tutorial tasks.


This module is at CQFW Level 6