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ECON40515: MONETARY ECONOMICS

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Type	Tied
Level	4
Credits	15
Availability	Not available in 2023/24
Module Cap
Location	Durham
Department	Economics

Prerequisites

None

Corequisites

None

Excluded Combinations of Modules

None

Aims

To provide students with the specialist instruments for analysing monetary issues in a range of theoretical models and for analysing the theory and practice of monetary policy in modern industrialised economies.

Content

Topics are likely to include:
The Monetary Transmission Mechanism
Sticky Wages and Prices
Monetary Policy in NK model
Credibility and Time-Inconsistency in Monetary Policy
Optimal Monetary Policy: Commitment vs Discretion
Unconventional Monetary Policy Zero Lower Bound, Forward Guidance and Quantitative Easing
Monetary and Fiscal policy Interaction
Monetary policy and financial intermediation

Learning Outcomes

Subject-specific Knowledge:

have explored, understood and appreciated the complexity and diversity of the current relevant academic literature and its implications for professional practice, and be able to identify open questions for their own research;
have demonstrated ability to learn and work independently in addressing challenging complex issues in monetary economics.

Subject-specific Skills:

have used highly specialised and advanced academic, technical and professional skills in analysing issues in monetary economics and policy.

Key Skills:

Written Communication;
Planning, Organising and Time Management;
Problem Solving and analysis;
Using initiative;
Numeracy;
Computer Literacy.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

A combination of lectures, seminars/workshops and guided reading will contribute to achieving the aims and learning outcomes of this module. Summative assessment by written examination will test students' knowledge and understanding of the subject-matter, their critical judgement and problem-solving and critical skills.

Teaching Methods and Learning Hours

Activity	Number	Frequency	Duration	Total	Monitored
Lectures	10	1 per week	2 hours	20
Revision Lecture	1		2 hours	2
Seminars/Workshops	4	Fortnightly	1 hour	4	Yes
Preparation & Reading				124
Total				150

Summative Assessment

Component: Examination		Component Weighting: 100%
Element	Length / Duration	Element Weighting	Resit Opportunity
One written online examination	2 hours, 3,000 words max.	100	Same

Formative Assessment

At least one formative assessment to prepare students for the summative exam.

More information

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