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ES50078: International monetary policy & institutions

[Page last updated: 12 August 2021]

Academic Year: 2021/2
Owning Department/School: Department of Economics
Credits: 6 [equivalent to 12 CATS credits]
Notional Study Hours: 120
Level: Masters UG & PG (FHEQ level 7)
Period:
Semester 2
Assessment Summary: EX 100%
Assessment Detail:
  • Exam (EX 100%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites:
Aims: To cover the main aspects of monetary policy at an advanced level with an emphasis on recent developments. To provide students with the knowledge, conceptual framework, awareness of areas of controversy and debate and technical skills to enable students to achieve a critical understanding of recent advanced research in monetary economics.

Learning Outcomes: On successful completion of the unit students will have developed a systematic knowledge and critical awareness of advanced monetary theory and policy issues and a comprehensive understanding of relevant analytical techniques.
Students will also have developed a comprehensive understanding of the monetary policy literature and policy research carried out by governments, central banks and academics.

Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models. (Taught/Facilitated/Assessed)
Ability to select, summarise and synthesise 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: Demand for money; Money in the Economy; Inflation; Monetary Policy; The Transmission mechanism of monetary policy; Discretionary Policy and Time Inconsistency; Central Banking Institutions; Causes and Consequences of the Financial Crisis; Central Banking in practice.

Programme availability:

ES50078 is Optional on the following programmes:

Department of Economics

Notes:

  • This unit catalogue is applicable for the 2021/22 academic year only. Students continuing their studies into 2022/23 and beyond should not assume that this unit will be available in future years in the format displayed here for 2021/22.
  • Programmes and units are subject to change 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.
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