Monetary Theory and Practice
| Code | School | Level | Credits | Semesters |
| ECON4035 | Economics | 4 | 15 | Spring UK |
- Code
- ECON4035
- School
- Economics
- Level
- 4
- Credits
- 15
- Semesters
- Spring UK
Summary
This module covers monetary aspects of advanced macroeconomics and is suitable for students of mainstream economics, finance and international economics. It focuses on the theory and practice of central banking, monetary policy and control. It covers concepts such as time inconsistency, the problem of inflation bias with solutions, credibility, transparency and accountability of monetary institutions, inflation targeting and price stability, the choice of instruments for monetary policy and their control, and finally monetary transmission. It combines some theory with evidence and practice. Students that take this module typically aim to work in central banks, financial institutions or government.
Target Students
Available for PGT and PGR students in the School of Economics. Also available for students on the MSc Financial and Computational Mathematics degree.
Classes
This module is delivered through a series of lectures.
Assessment
- 30% Coursework: Group Presentation and Essay
- 70% Exam (2-hour): Exam
Assessed by end of spring semester
Educational Aims
The aim of this module is to address the major developments in macroeconomics with an emphasis on monetary economics. Its objectives are to cover the theory and practice of central banking and monetary transmission.Learning Outcomes
A Knowledge and Understanding. Students should demonstrate
A4: An advanced knowledge of specialisms in economics, including the current state of research in that field
A5: An understanding of institutions, policies and the broader context in which specific economic analysis is applied
B Intellectual Skills. Students should be able to
B2: Use analysis, deduction and induction to solve economic problems
B3: Apply economic theory to economic institutions and policies
D Transferable (key) skills. Students should be able to
D3: Undertake independent study of an economic subject