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ES50054: International monetary economics

Follow this link for further information on academic years Academic Year: 2014/5
Further information on owning departmentsOwning Department/School: Department of Economics
Further information on credits Credits: 6
Further information on unit levels Level: Masters UG & PG (FHEQ level 7)
Further information on teaching periods Period: Semester 1
Further information on unit assessment Assessment Summary: EX 100%
Further information on unit assessment Assessment Detail:
Further information on supplementary assessment Supplementary Assessment: ES50054 - RESIT EXAMINATION (where allowed by programme regulations)
Further information on requisites Requisites:
Further information on descriptions 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.

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).

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.
Further information on programme availabilityProgramme availability:

ES50054 is available for Auditing on the following programmes:

Department of Economics

ES50054 is Compulsory on the following programmes:

Department of Economics

ES50054 is Optional on the following programmes:

Department of Economics
* This unit catalogue is applicable for the 2014/15 academic year only. Students continuing their studies into 2015/16 and beyond should not assume that this unit will be available in future years in the format displayed here for 2014/15.
* Programmes and units are subject to change at any time, in accordance with normal University procedures.
* Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.