EC33010 - EUROPEAN AND INTERNATIONAL MONETARY SYSTEMS

Module Identifier	EC33010
Module Title	EUROPEAN AND INTERNATIONAL MONETARY SYSTEMS
Academic Year	2002/2003
Co-ordinator	Mr Bruce Morley
Semester	Semester 1
Pre-Requisite	(EC10120 and EC10320) or (EC10510 and EC10610)
Course delivery	Lecture	10 Hours
	Seminars / Tutorials	4 Hours
Assessment	Semester Exam	1.5 Hours	80%
	Semester Assessment		20%

Learning outcomes

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.

Aims

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.

Brief description

This module investigates the international and European monetary system, with respect to their recent development and problems.

Content

The Bretton-Woods system
Fixed versus flexible exchange rates
Eurocurrency markets
International macroeconomic coordinators
Debt crisis
Maastricht criteria
European Central Bank

Transferable skills

Independent work on assessed coursework requiring basic researching skills
Contribution to seminar discussion and debate
General economic and financial analysis of contemporary issues

Reading Lists

Books
P de Graune. (1999) The Economics of Monetary Integration. 2nd.
P de Graune. (1996) International Money: Post War Trends.
M Melvin. (1996) Interntaional Money and Finance.
K Pilbeam. (1998) International Finance. 2nd.