Advanced Monetary Economics
| Code | School | Level | Credits | Semesters |
| ECON3008 | Economics | 3 | 20 | Spring UK |
- Code
- ECON3008
- School
- Economics
- Level
- 3
- Credits
- 20
- Semesters
- Spring UK
Summary
This course provides a rigorous introduction to formal models of money in the macroeconomy. Following this, applications for areas of central banking, finance and international macroeconomics will be explored.
Target Students
Available for final year Undergraduate students on Economics degree programmes (including final year Undergraduate students on the BA Jt Hons Politics and Economics and BSc Jt Hons Mathematics and Economics degrees). Not available for Exchange students.
Classes
This module is delivered through a combination of lectures and tutorials.
Assessment
- 25% Coursework: Group Coursework
- 75% Exam (2-hour): Exam
Assessed by end of spring semester
Educational Aims
It is the aim of the module to convey all the basic rudiments of monetary economics. The objectives will be to cover each element of monetary economics in self-contained modules of lectures. The module will begin with the nature of a monetary economy and will examine the characteristics of a classical monetary model. We will then consider the modifications offered by the Walrasians, Keynesians and the Monetarist, and the treatment of money as a financial asset in a liquidity spectrum will be covered in the lectures on portfolio theory. New developments to the theory of money can be traced due to the rational expectations revolution, these impinge on policy and a new part of the module will include a discussion of optimal policy design and the practical aspects of central banking and inflation control.The module aims to enable the participants to develop:Professional communication: students must communicate effectively with their peers to write a presentation. The module will also help to develop presentation and essay writing skills.Co-ordinating with others to produce a group presentation and essay.Digital capabilities through the use of library e-resources to help access primary resources, such as journal articles. Become familiar with presentation and file sharing software.Learning Outcomes
Knowledge and Understanding:
A2 Apply core economic theory and economic reasoning to applied topics.
A4 Demonstrate understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them.
A6 Extensive knowledge and skills in specific specialisms in economics.
Intellectual Skills:
B4 Be able to frame analysis of problems, identifying which parameters should be taken as fixed and why they might change.
Professional / Practical Skills:
C1 Discuss and analyse government policy.
Transferable Skills:
D1 Apply mathematical, statistical and graphical techniques in an appropriate manner.
D4 Show that they can work effectively in a team.