This is an archived handbook for a previous year. The current undergraduate and postgraduate handbooks can be viewed using the links above.
Postgraduate Handbook 2022-2023 (archived)
Module ECON40515: MONETARY ECONOMICS
Department: Economics
ECON40515: MONETARY ECONOMICS
| Type | Level | Credits | Availability | Module Cap | Location |
|---|---|---|---|---|---|
| Tied | 4 | 15 | Not available in 2022/2023 | Durham |
Tied To
- L1K109: Economics and Finance (see Postgraduate Handbook 2012-2013 for details)
- L1T109: Economics
- L1T209: Public Economics
- L1T309: Experimental Economics
- L1T409: Environmental & Natural Resource Economics
- N3K709: Finance (Economics and Finance)
Pre-requisites
- None
Corequisites
- None
Excluded Combinations
- 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
- 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
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 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 Hours | Attendance 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 | Component Weighting | Element | Length/Duration | Element Weighting | Resit Opportunity |
|---|---|---|---|---|---|
| Examination | 100% | Unseen written examination | 2 hours | 100% | Same |
Formative Assessment
1 formative essay of 1500 words. Work prepared by students for seminars; answers to questions either discussed during a seminar, or posted on Learn Ultra.
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.