Monetary Economics
| Code | School | Level | Credits | Semesters |
| ECON2031 | School of Economics | 2 | 10 | Spring China |
- Code
- ECON2031
- School
- School of Economics
- Level
- 2
- Credits
- 10
- Semesters
- Spring China
Summary
This module will cover topics such as the economic function of financial markets and banks, the role of central banks in the economy, and the monetary policy transmission mechanism. Under these headings the module will address issues of theory, policy and practice relating to recent economic experience in the US, UK and other countries. The module will feature some current debates and controversies based on recent events. This module will provide a foundation for the monetary economics modules in the fourth year and is a complement to financial economics for the third year.
Pre-requisite: ECON1034 Introduction to Macroeconomics
Please note: This module is assessed at the end of Spring semester. First sit/ Re-sit exams are scheduled normally in the summer and can take the same form as the missing/ failed component of the assessment (exam, essay etc.) or other form, as decided by the School.
Target Students
Year 3 Economics students and Y4 IBE students from NUBS
Classes
- One 1-hour seminar each week for 3 weeks
- One 2-hour lecture each week for 10 weeks
Assessment
- 25% Coursework 1: Presentation and Group Essay of 1800 words
- 75% Exam 1 (1-hour-30-minute): 1.5 hours written exam
Assessed by end of spring semester
Educational Aims
The key aims of the module are:• to build on core macroeconomic understanding to explore monetary economics;• to study in detail various topical issues in the field of monetary economics;• to give students a comprehensive grasp of underpinnings of monetary policy analysis.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;Coordinating 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 software such as Power-point and file sharing software;Reflection of understanding of material through formative feedback.Learning Outcomes
On completing this module, the learning outcomes are such that students will be able to:
a. Knowledge and understanding
- show knowledge of the role of money in the macroeconomy;
- demonstrate understanding of the channels of transmission of monetary policy;
- study monetary economics at a more advanced level.
b. Intellectual skills
- show appreciation of monetary policy choices and objectives, and of the conduct of monetary policy in a macroeconomic context.
c. Professional/ practical skills
- show the ability to develop and evaluate monetary policy models
d. Transferable (key) skills
- show good communication skills in seminars;
- display the ability to effectively work in teams in seminars;
- show good writing skills in the final examination.
Emphasised learning outcomes from the study of this module are: - 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
- B4 - Perform with high levels of accuracy.
- C3 - Justify conclusions using economic arguments with appropriate rigour
- D2 - Communicate effectively and clearly in written and oral formats.
- D4 - Show that you can work effectively in a team.
Conveners
- Yifei Cao