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EC312: International Economics

  • Natalie Chen

    Module Leader
15 CATS - Department of Economics
Spring Module
Autumn Module

Principal Aims

This module allows students to develop a good understanding of international macroeconomic issues, and in particular to understand and manipulate simple economic models and to read critically the empirical literature in the area of international macroeconomics.

Principal Learning Outcomes

Professional skills: … Review the relevant literature and evidence and demonstrate an ability to apply it.The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, and independent study.The summative assessment methods that measure the achievement of this learning outcome are: Examination

Subject knowledge and understanding: … Demonstrate general knowledge and understanding of international macroeconomicsThe teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, and independent study.The summative assessment methods that measure the achievement of this learning outcome are: Examination

Subject knowledge and understanding: … Demonstrate a critical understanding of applications of economics that have been specific to the study of international macroeconomics.The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, and independent study.The summative assessment methods that measure the achievement of this learning outcome are: Examination

Key skills: … Understand and manipulate simple economic models, and to read critically the empirical literature, in the area of international macroeconomics The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, and independent study.The summative assessment methods that measure the achievement of this learning outcome are: Examination

Cognitive skills: … Apply critical analysis to the topics of the module, formulate concepts and hypotheses, and show how they are tested in relevant literature.The teaching and learning methods that enable students to achieve this learning outcome are: Seminars, and independent study.The summative assessment methods that measure the achievement of this learning outcome are: Examination

Syllabus

The module will typically cover the following topics:

- National income accounting in an open economy and in particular the balance of payments

- Models of the inter-temporal approach to the current account

- The foreign exchange market and the interaction between price levels and exchange rates in the long-run

- Models of exchange rate determination with flexible prices (Monetary Model), fixed prices (Mundell-Fleming Model) and sticky prices (Overshooting Model)

- Purchasing Power Parity and the analysis of trade flows (using the gravity equation framework) at the macroeconomic level.

Context

Optional Module
GL11 - Year 3, GL12 - Year 4, L100 - Year 3, L103 - Year 4, L116 - Year 3, L1P5 - Year 1, L1PA - Year 1, LM1D (LLD2) - Year 3, LM1H - Year 4, V7ML - Year 3, V7MM - Year 4, V7MP - Year 3, V7MR - Year 3, LA99 - Year 3, R9L1 - Year 4, R3L4 - Year 4, R4L1 - Year 4, R2L4 - Year 4, R1L4 - Year 4, L1L8 - Year 3
Pre or Co-requisites
Modules: (EC201-30 and EC202-30) and EC204-30
Part-year Availability for Visiting Students
Available in the Autumn term only (1 x test – 12 CATS)

Assessment

Assessment Method
Coursework (20%) + 2 hour examination (Summer) (80%)
Coursework Details
Test 1 (20%), 2 hour examination (Summer) (80%)
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 ALL THREE questions in Section A (48 marks in total) and ONE question in Section B (52 marks).

Approved pocket calculators are allowed.

You should not submit answers to more than the required number of questions. If you do, we will mark the questions in the order that they appear, up to the required number of questions in each section.

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.

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