Module ECON2271: MACROECONOMIC APPLICATIONS AND POLICY

Department: Economics and Finance

ECON2271: MACROECONOMIC APPLICATIONS AND POLICY

Prerequisites

• Principles of Economics (ECON1011)

Corequisites

• None

Excluded Combination of Modules

• None

Aims

• To develop a critical understanding of the application of macroeconomic theories to real-world events.
• To learn how to examine and critique relevant research papers.
• To develop an understanding of topics relating to regional economic integration.

Content

• A range of material is treated at an intermediate level, with topics likely to include:
• The opportunities, challenges and risks related to regional economic integration
• The impact and challenges of reginal and international competition policies
• Dynamic effects: the growth effects of regional 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 optimal currency areas
• The fragility of incomplete monetary unions
• How to complete a monetary union and the challenges of finding a monetary policy which fits all

Learning Outcomes

• Upon completion of the module, students should:
• Have developed a critical appreciation of the degree to which macroeconomic theories can be used to analyse and develop solutions for real world problems.
• Have developed a critical understanding of the opportunities and challenges of regional or international economic integration.

• Upon completion of the module, students should:
• Be able to use macroeconomic theory to analyse real world problems.
• To be able to examine and critique macroeconomic research papers.

• Written Communication - by completing the formative assignment
• Planning, Organisation and Time Management- e.g. by preparing for seminars and 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 exam
• 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