|| EC33010 |
|| EUROPEAN AND INTERNATIONAL MONETARY SYSTEMS |
|| 2004/2005 |
|| Mr Bruce Morley |
|| Semester 1 |
|| (EC10120 and EC10320) or (EC10510 and EC10610) |
| Course delivery
|| Lecture || 10 Hours |
|| Seminars / Tutorials || 4 Hours |
|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%|
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.
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.
This module investigates the international and European monetary system, with respect to their recent development and problems.
The Bretton-Woods system
Fixed versus flexible exchange rates
International macroeconomic coordinators
European Central Bank
Independent work on assessed coursework requiring basic researching skills
Contribution to seminar discussion and debate
General economic and financial analysis of contemporary issues
** 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
This module is at CQFW Level 6