Module Information

Module Identifier
EC30320
Module Title
Macroeconomic Behaviour and Systems
Academic Year
2014/2015
Co-ordinator
Dr Kyriaki Remoundou
Semester
Semester 2
Pre-Requisite
EC10120 or EC10320
Other Staff
 

Course Delivery

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

Assessment

Assessment Type Assessment length / details Proportion
Semester Exam 3 Hours   Unseen written examination  80%
Semester Assessment Coursework (essay) 2,000 words  20%
Supplementary Exam 3 Hours   Unseen written examination  Repeat failed element  80%
Supplementary Assessment Coursework (essay) 2,000 words  Repeat failed element  20%

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.

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