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Unit information: International Macroeconomics in 2021/22

Unit name International Macroeconomics
Unit code EFIM30029
Credit points 10
Level of study H/6
Teaching block(s) Teaching Block 1 (weeks 1 - 12)
Unit director Dr. Correia
Open unit status Not open

EFIM10026 The Economy


EFIM10025 Economics 1 AND EFIM10027 Economics 2


EFIM10010 Economics Principles



School/department School of Economics
Faculty Faculty of Social Sciences and Law

Description including Unit Aims

The unit explains the macro economic implications of an economy being part of an international economy.

It explores theories of why we observe the movements in foreign exchange rates that we do;

why such movements can be volatile;

why there have been many currency crises in recent years;

how government macroeconomic policy operates in an international setting;

and why countries might join a currency union.

Intended Learning Outcomes

At the end of the course students will develop an understanding of

  • how exchange rates are determined;
  • the impossibility of having at the same time (i) free international capital flows, (ii) a fixed exchange rate and (iii) an independent monetary policy;
  • the pros and cons of various exchange rate regimes (e.g., fixed versus flexible exchange rates);
  • the theory of optimum currency areas;
  • what macro fiscal and monetary policy can do in the context of a small open economy;
  • how an economy’s macroeconomic policy and performance are affected by developments in the international economy.

Teaching Information

Teaching will be delivered through a combination of synchronous and asynchronous sessions such as online teaching for large and small group, face-to-face small group classes (where possible) and interactive learning activities

Assessment Information

online examination (100%)


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. EFIM30029).

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.

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.