Module ECON2271: MACROECONOMIC APPLICATIONS AND POLICY

Department: Economics and Finance

ECON2271: MACROECONOMIC APPLICATIONS AND POLICY

Prerequisites

• • Macroeconomics 1 (ECONxxxx) OR Economic Theory 1

Corequisites

• Macroeconomics 2 or Economic Theory 2

Excluded Combination of Modules

• None

Aims

• To develop an understanding of topics relating to both the EU and Eurozone
• To learn and critique theoretical topics that apply to real-world events.
• To learn how to examine and critique relevant research papers.

Content

• A range of material is treated at an intermediate level, with topics likely to include:
• The evolution of European institutions
• The formation and the completion of the customs union
• Market size effects and competition policies in the EU
• Dynamic effects: the growth effects of European integration
• Labour mobility, international trade and the labour markets
• Location effects, economic geography and regional policy
• Towards a political union? Economic integration and the size of nations.
• The costs of a common currency
• A critique of OCA
• The Fragility of Incomplete Monetary Unions
• How to complete a Monetary Union
• The European Central Bank and the conduct of Monetary Policy in the Euro area.

Learning Outcomes

• Upon completion of the module, students should:
• Have knowledge and understanding of the key theoretical and empirical issues relating to the EU and the Eurozone

• Upon completion of the module, students should:
• Be able to analyse real world problems relating to the EU and Eurozone from a theoretical and critical perspective.

• Written Communication - by completing the formative and summative assignments
• Planning, Organisation and Time Management- e.g. by preparing for examinations
• Problem solving and Analysis - by applying the necessary analytical and quantitative skills to identify and empirically test theoretical relationships
• Initiative - by collecting information for the exam, searching relevant literature and information in preparation for the summative assignment.
• Numeracy - e.g. by applying an array of core mathematical-statistical skills to answer a range of examination questions;

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

• Lectures provide an introduction to the key theoretical and empirical issues.
• Seminars give the students an opportunity to discuss theoretical concepts and their applications.
• Formative assessment is by means of a written test
• Summative assessment is by means of a written examination.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

One class test

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University