Introductory description

This module allows students to develop a good understanding of international macroeconomic issues, and in particular to understand and manipulate simple economic models and to read critically the empirical literature in the area of international macroeconomics.

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

The module will typically cover the following topics:

• National income accounting in an open economy and in particular the balance of payments
• Models of the inter-temporal approach to the current account
• The foreign exchange market and the interaction between price levels and exchange rates in the long-run
• Models of exchange rate determination with flexible prices (Monetary Model), fixed prices (Mundell-Fleming Model) and sticky prices (Overshooting Model)
• Purchasing Power Parity and the analysis of trade flows (using the gravity equation framework) at the macroeconomic level.

Learning outcomes

By the end of the module, students should be able to:

• Professional skills: … Review the relevant literature and evidence and demonstrate an ability to apply it.The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, and independent study.The summative assessment methods that measure the achievement of this learning outcome are: Examination
• Subject knowledge and understanding: … Demonstrate a critical understanding of applications of economics that have been specific to the study of international macroeconomics.The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, and independent study.The summative assessment methods that measure the achievement of this learning outcome are: Examination
• Key skills: … Understand and manipulate simple economic models, and to read critically the empirical literature, in the area of international macroeconomics The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, and independent study.The summative assessment methods that measure the achievement of this learning outcome are: Examination
• Cognitive skills: … Apply critical analysis to the topics of the module, formulate concepts and hypotheses, and show how they are tested in relevant literature.The teaching and learning methods that enable students to achieve this learning outcome are: Seminars, and independent study.The summative assessment methods that measure the achievement of this learning outcome are: Examination
• Subject knowledge and understanding: … Demonstrate general knowledge and understanding of international macroeconomicsThe teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, and independent study.The summative assessment methods that measure the achievement of this learning outcome are: Examination

Indicative reading list

Please see Talis Aspire link for most up to date list.

View reading list on Talis Aspire

Subject specific skills

Students will have the opportunity to develop skills in:
Analytical thinking and communication
Analytical reasoning
Critical thinking
Problem-solving
Policy evaluation
Analysis of incentives
Concepts of Simultaneity and Endogeneity

Transferable skills

Students will have the opportunity to develop:
Numeracy and quantitative skills
Written communication skills
Oral communication skills
Mathematical, statistical and data-based research skills