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ES30034: International monetary economics

Academic Year: 2018/9
Owning Department/School: Department of Economics
Credits: 6      [equivalent to 12 CATS credits]
Notional Study Hours: 120
Level: Honours (FHEQ level 6)
Period:
Semester 2
Assessment Summary: EX 100%
Assessment Detail:
  • Examination (EX 100%)
Supplementary Assessment:
ES30034 Re-sit Examination (where allowed by programme regulations)
Requisites: Before taking this module you must take ES20013 AND ( take ES20014 OR take ES20020 )
Description: Aims:
The aim of the Unit is to present a fairly rigorous account of the material that relates to 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. Although the unit can be studied as a self-contained module, it forms part of a specialist stream in International Economics, with ES30033 International Trade.

Learning Outcomes:
The learning outcomes are that, at the end of the course unit, students will understand the way in which economic theory can be applied to issues such as
(i) the use of fiscal and monetary policies in open economies;
(ii) UK balance of payments policy;
(iii) the workings of the foreign exchange market;
(iv) the European monetary system and the issue of UK membership
(v) theoretical accounts of international financial crises.

Skills:
Using deductive reasoning in abstract models. Applying theory to specific contexts. Synthesising relevant material and debates.

Content:
The course unit emphasises debate mainly at the theoretical level, by generally contrasting a Keynesian real side approach with a more classically inspired monetary approach. Specific topics include: the nature and significance of the balance of payments; parity concepts; the efficient markets hypothesis; devaluation; open economy macroeconomics; flexible versus fixed exchange rates; the foreign trade sector, Europe and international policy co-ordination.
Programme availability:

ES30034 is Optional on the following programmes:

Department of Economics
  • UHES-AFB03 : BSc(Hons) Economics (Year 3)
  • UHES-AAB03 : BSc(Hons) Economics with Study year abroad (Year 4)
  • UHES-AKB03 : BSc(Hons) Economics with Year long work placement (Year 4)
  • UHES-AFB04 : BSc(Hons) Economics and Mathematics (Year 3)
  • UHES-AAB04 : BSc(Hons) Economics and Mathematics with Study year abroad (Year 4)
  • UHES-AKB04 : BSc(Hons) Economics and Mathematics with Year long work placement (Year 4)
  • UHES-ACB04 : BSc(Hons) Economics and Mathematics with Combined Placement and Study Abroad (Year 4)
  • UHES-AFB01 : BSc(Hons) Economics and Politics (Year 3)
  • UHES-AAB01 : BSc(Hons) Economics and Politics with Study year abroad (Year 4)
  • UHES-AKB01 : BSc(Hons) Economics and Politics with Year long work placement (Year 4)
  • UHES-ACB01 : BSc(Hons) Economics and Politics with Combined Placement and Study Abroad (Year 4)
  • UHES-ACB03 : BSc(Hons) Economics with Combined Placement and Study Abroad (Year 4)

Notes:

  • This unit catalogue is applicable for the 2018/19 academic year only. Students continuing their studies into 2019/20 and beyond should not assume that this unit will be available in future years in the format displayed here for 2018/19.
  • 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.
  • Undergraduates: .
  • Postgraduates: .