Programme/Approved Electives for 2020/21
Available as a Free Standing Elective
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 will be achieved by assessments: 1, 2Utilise a variety of mathematical skills and techniques to analyse the behaviour of small open economies will be achieved by assessments: 1, 2Evaluate economic theories and apply them to the analysis of an open economy will be achieved by assessments: 1, 2Utilise data from a variety of sources and work effectively with information technology will be achieved by assessments: 2Assess the effect of policy and other changes on the economy, recognising the basic tenents of policy evaluation will be achieved by assessments: 1, 2
24 hours lectures 5 hours tutorials and 20 hours tutorial preparation20 hours coursework preparation81 hours guided independent study
1: Exam weighted 70%
Description of Module Assessment
Two-hour, end-of-semester, closed book examinationTwo-hours closed book examination covering all elements of the module2: Essay weighted 30%
Take Home AssignmentEssay in open economy macroeconomics.