ECO-20037 - Module Specification
Keele Business School
Faculty of Humanities and Social Sciences

Programme/Approved Electives for 2020/21

Available as a Free Standing Elective

Co-requisites

None

Prerequisites

ECO-10029 Introductory Macroeconomics

Barred Combinations

None

Description for 2020/21

This module examines the role and capability of government demand management policies in an open economy. The module systematically develops an open economy variant of the established closed economy macroeconomic models (IS/LM and AS/AD models). It examines the efficacy of monetary, fiscal and exchange rate policy for stabilising output, employment and inflation. The role of capital mobility and the exchange rate in the transmission mechanism of policy is also studied.

To extend students' knowledge and understanding of macroeconomic policy in the context of the open economy

Intended Learning Outcomes

Explain the behaviour of households, firms and governments in terms of a small set of unifying economic principles: 1,2
Evaluate economic theories and apply them to the analysis of an open economy: 1,2
Utilise data from a variety of sources and work effectively with information technology: 1,2
Assess the effect of policy and other changes on the economy, recognising the basic tenents of policy evaluation: 1,2
Utilise a variety of mathematical skills and techniques to analyse the behaviour of small open economies: 1,2

Study hours

20 hours lectures
4 hours tutorials
123 hours independent study
2 hours exam
1 hour online test

School Rules

None

Description of Module Assessment