Unit name | Open-Economy Macroeconomics |
---|---|
Unit code | ECON30010 |
Credit points | 20 |
Level of study | H/6 |
Teaching block(s) |
Teaching Block 1 (weeks 1 - 12) |
Unit director | Dr. Correia |
Open unit status | Not open |
Units you must take before you take this one (pre-requisite units) |
EFIM20033 Intermediate Microeconomics AND OR OR |
Units you must take alongside this one (co-requisite units) |
None |
Units you may not take alongside this one |
None |
School/department | School of Economics |
Faculty | Faculty of Social Sciences and Law |
Why is this unit important?
The world economy is ever more globalized. When the US Federal Reserve changes their key rate in a way that was not anticipated by the markets, the value of the dollar rises or falls, and this has macroeconomic repercussions in the US economy as well as all around the world. Whenever domestic instability in an emerging economy convinces investors to move their capital abroad, this can be the prelude to a triple currency-, banking- and sovereign-debt-crisis. Having a national currency (e.g., the £) is considered essential by many sovereign states. But there are countries (e.g., the Eurozone members) that have opted to share a single currency. And there are others (e.g., Ecuador) that have foregone their own currency altogether and use a stable international currency such as the US dollar as the legal tender.
This unit gives you the background to understand these events and decisions by exploring the macroeconomic theory and policy issues that arise when openness takes central stage.
How does this unit fit into your programme of study?
This unit builds on the macroeconomics students learned in years 1 and 2, in the sense that students will be familiar with a focus on frameworks that
However,
An overview of content
How will students, personally, be different as a result of the unit what you know, how you think and what you can do.
By the end of the unit students will have a much better understanding of real-world macro than before. And for those working in a financial institution (as, for instance, macro analysts or forex traders), this will substantially improve their ability to analyse issues and make sensible trading calls.
Learning Outcomes
By the end of this unit, students will be able to:
Teaching will be delivered through a combination of large and small group classes, supported by online resources
Tasks which help you learn and prepare you for summative tasks
Tasks which count towards your unit mark
When assessment does not go to plan
Reassessment is not normally available for final year units. Where students are taking this as a non-final year unit (e.g. as part of an MSci programme), reassessment will be a 2 hour examination.
If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.
If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. ECON30010).
How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours
of study to complete. Your total learning time is made up of contact time, directed learning tasks,
independent learning and assessment activity.
See the Faculty workload statement relating to this unit for more information.
Assessment
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit.
The Board considers each student's outcomes across all the units which contribute to each year's programme of study. If you have self-certificated your absence from an
assessment, you will normally be required to complete it the next time it runs (this is usually in the next assessment period).
The Board of Examiners will take into account any extenuating circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.