This is an archived handbook for a previous year. The current undergraduate and postgraduate handbooks can be viewed using the links above.

Undergraduate Handbook 2021-2022 (archived)

Module ECON2271: MACROECONOMIC APPLICATIONS AND POLICY

Department: Economics and Finance

ECON2271: MACROECONOMIC APPLICATIONS AND POLICY

Type	Level	Credits	Availability	Module Cap	Location
Tied	2	20	Available in 2021/2022	None.	Durham

Tied To

Pre-requisites

Principles of Economics (ECON1011)

Corequisites

None

Excluded Combinations

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

Subject-specific Knowledge

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.

Subject-specific Skills

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.

Key Skills

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

Activity	Number	Frequency	Duration	Total Hours
Lectures	20	1 per week	1 hour	20
Seminars	8	4 in term one and 4 in term 2	1 hour	8
Revision Session	2		1 hour	2
Preparation and Reading				170
Total				200

Summative Assessment

Component	Component Weighting	Element	Length/Duration	Element Weighting	Resit Opportunity
Examination	100%	One written examination	2 hours	100%

Formative Assessment

One class test

Students who do not attend monitored activities shown under Teaching Methods and Learning Hours, or who fail to complete the summative or formative assessment(s) specified above, may be subject to the Academic Progress procedures defined in the University's General Regulation V, and may be required to leave the University.