EC307: Macroeconomic Policy in the EU

Introduction

This module provides students with an overview of current economic and political affairs in the UK and in the Eurozone. You will be exposed to a range of applications and monetary theories. You will gain an understanding of how the European institutions work, in particular, the European Central Bank, and the conduct of monetary policy in the Eurozone. The module also covers labour markets and their implications for monetary policy. You will gain skills and techniques to analyse problems relating to monetary policy using mainly a diagrammatic and intuitive approach.

Principal Aims

The module aims to develop students' ability to analyse what is happening in the macro economy. The module aims to use and build on ideas from core second–year modules.

Principal Learning Outcomes

Subject knowledge and understanding:… demonstrate a qualitative and quantitative understanding of the current issues in macroeconomic policy in the EU. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, individual study, background reading. The assessment methods that measure the achievement of this learning outcome are: Final examination and assessed seminar presentation (summative).

Subject knowledge and understanding:… demonstrate a knowledge of current events including trends and developments in economic data, policy institutions and legislation, and theoretical and econometric models of policy and policy outcomes. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, individual study, background reading. The assessment methods that measure the achievement of this learning outcome are: Final examination and assessed seminar presentation (summative).

Key skills: … communicate their knowledge of macroeconomic policy in the EU verbally and in writing. The teaching and learning methods that enable students to achieve this learning outcome are: Seminars, individual study, background reading. The assessment methods that measure the achievement of this learning outcome are: Final examination and assessed essay (summative) and seminar participation (formative).

Cognitive skills: …demonstrate an ability to apply their knowledge of macroeconomic policy issues to current economic events and case studies. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, individual study, background reading. The assessment methods that measure the achievement of this learning outcome are: Final examination and assessed seminar presentation (summative).

Professional skills: … review the relevant literature, case studies and evidence. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, individual study, background reading. The assessment methods that measure the achievement of this learning outcome are: Final examination and assessed seminar presentation (summative).

Syllabus

Context

Optional Module

LM1D (LLD2) - Year 3, GL11 - Year 3, GL12 - Year 4, L1P5 - Year 1, L1PA - Year 1, V7ML - Year 3, V7MM - Year 4, LA99 - Year 3, R9L1 - Year 4, R3L4 - Year 4, R4L1 - Year 4, R2L4 - Year 4, R1L4 - Year 4, L1L8 - Year 3, L1CA - Year 3, L100 - Year 3, L103 - Year 4, L116 - Year 3, V7MP - Year 3, V7MR - Year 3, L1CG - Year 4

Pre or Co-requisites

Any of:

EC201-30 Macroeconomics 2 AND

EC202-30 Microeconomics 2

OR

EC204-30 Economics 2

Summary:

Modules: (EC201-30 and EC202-30) and EC204-30

Assessment

Assessment Method

Coursework (20%) + Centrally-timetabled examination (On-campus) (80%)

Coursework Details

Centrally-timetabled examination (On-campus) (80%) , Presentation (20%)

Exam Timing

Summer

Exam Rubric

Time Allowed: 2 Hours

Read all instructions carefully - and read through the entire paper at least once before you start entering your answers.

There are TWO sections in this paper. Answer BOTH questions in Section A (20 marks each) and ONE question in Section B (60 marks).

Use a separate booklet for each Section.

• Use a PINK booklet for Section A questions.

• Use a GREEN booklet for Section B questions.

You must write the number(s) of the question(s) you have answered on the front cover of each booklet. Make sure the numbers are clearly visible and correspond to the questions you completed inside that booklet.

Do not submit answers to more than the required number of questions. If you do, only the first answers (in the order they appear) will be marked, up to the required number for each section.

Approved scientific (non-graphical) pocket calculators are allowed

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.

Reading Lists