Durham University
Programme and Module Handbook

Postgraduate Programme and Module Handbook 2024-2025

Module ECON40515: MONETARY ECONOMICS

Department: Economics

ECON40515: MONETARY ECONOMICS

Type Tied Level 4 Credits 15 Availability Not available in 2024/2025 Module Cap None
Tied to L1T109
Tied to L1T409
Tied to N3K709
Tied to L1T609

Prerequisites

  • None

Corequisites

  • None

Excluded Combination 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 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
Lectures 10 1 per week 2 hours 20
Revision Lecture 1 2 hours 2
Seminars 4 Fortnightly 1 hour 4
Preparation & Reading 124
Total 150

Summative Assessment

Component: Examination Component Weighting: 100%
Element Length / duration Element Weighting Resit Opportunity
One in-person written examination 2 hours 100% Same

Formative Assessment:

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


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