Department of Economics, Unit Catalogue 2011/12 |
|
 Credits:
| 6 |
| Level:
| Masters UG & PG (FHEQ level 7) |
| Period: |
Semester 1 |
| Assessment:
| EX 100% |
| Supplementary Assessment: | ES50054 - RESIT EXAMINATION (where allowed by programme regulations) |
| Requisites:
| |
| Description:
| Aims: To present a rigorous account of the material that relates to the financial and monetary aspects of an open economy. Students will gain a critical appreciation of the theoretical tools used in this important area of economics and a robust analytical framework for the interpretation of policy. Learning Outcomes: The learning outcomes for this unit involve a critical understanding of (1) how monetary and Keynesian inspired macro economic theory has been applied in open economy economics; (2) empirical work that has been undertaken in this area; (3) the effects of different exchange rate regimes on the process of economic adjustment. Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed). Ability to select, summarise and synthesis written information from multiple sources (T/F/A). Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A). Comprehensive and scholarly written communication (T/F/A). Concise and effective written communication (e.g. briefings / written exams) (T/F/A). Effective oral communication (e.g. lecture question and answer) (F). Content: The unit emphasises debate, mainly at the theoretical level, by generally contrasting a Keynesian real side approach with a more classically inspired monetary/ financial approach. Specific topics will include: parity concepts; the efficient market hypothesis, the monetary approach to the exchange rate and the balance of payments; fixed and flexible exchange rates and the firm. Texts will include L.S. Copeland Exchange Rates and International Finance and P Hallwood and R MacDonald International Money and Finance. |
| Programme availability: |
ES50054 is Compulsory on the following programmes:Department of Economics
ES50054 is Optional on the following programmes:Department of Economics
ES50054 is available for Auditing on the following programmes:Department of Economics
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