Module overview
This module provides a short course in international macroeconomics. We begin by studying exchange rates before turning to wider issues in international macro, such as the costs and benefits of participation in global capital markets; sovereign debt and currency crises; and the uses and limitations of monetary policy.
Linked modules
Pre-requisite: ECON2002 or ECON2037
Aims and Objectives
Learning Outcomes
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- the central theoretical and practical concepts in international macroeconomics
- application of economic principles and methods to international macroeconomics, including the causes and consequences of foreign exchange market intervention, including sovereign default and exchange rate crises
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- communicate logical arguments in written form
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- place macroeconomic policy discussions into a formal theoretical framework of the open economy
- use formal logic to solve open economy models and critically and empirically evaluate these models
Syllabus
- Introduction to exchange rates
- The long run approach to exchange rates
- The short run approach to exchange rates
- The current account
- Sovereign debt and default
- Why doesn't capital flow from rich to poor countries?
- Macro policy under fixed and floating exchange rates
- Exchange rate crises
Learning and Teaching
Teaching and learning methods
Lectures + classes.
| Type | Hours |
|---|---|
| Independent Study | 122 |
| Teaching | 28 |
| Total study time | 150 |
Resources & Reading list
General Resources
The main course reading is an Ebook which is made available on Blackboard in pdf format. Additional resources for each topic will be posted on Blackboard..
Assessment
Assessment strategy
Assessment on this modules is through end of module examination (80% of the final mark) and coursework in form of solving problem sets (20%). This is supported by continuous formative assessment in form of problem sets. This is the same for internal repeat. Assessment for external repeat and referral is though 100% end of module examination.
Summative
This is how we’ll formally assess what you have learned in this module.
| Method | Percentage contribution |
|---|---|
| Coursework | 20% |
| Final Assessment | 80% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
| Method | Percentage contribution |
|---|---|
| Final Assessment | 100% |
Repeat
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
| Method | Percentage contribution |
|---|---|
| Final Assessment | 100% |
Repeat Information
Repeat type: Internal & External