ECO-20037 - Module Specification
Keele Business School
Faculty of Humanities and Social Sciences
For academic year: 2022/23 Last Updated: 19 January 2023
ECO-20037 - Open Economy Macroeconomics
Coordinator: Gabriella Legrenzi Room: 1.68 Tel: +44 1782 7 34362
School Office: 01782 733094
Programme/Approved Electives for 2022/23
Available as a Free Standing Elective
Co-requisites
None
Prerequisites
ECO-10029 Introductory Macroeconomics
Barred Combinations
None
Description for 2022/23
This module examines the role and capability of government demand management policies in an open economy. The module systematically develops an open economy variant of the established closed economy macroeconomic models (IS/LM and AS/AD models). It examines the efficacy of monetary, fiscal and exchange rate policy for stabilising output, employment and inflation. The role of capital mobility and the exchange rate in the transmission mechanism of policy is also studied.
Aims
To extend students' knowledge and understanding of macroeconomic policy in the context of the open economy
Intended Learning Outcomes
Explain the behaviour of households, firms and governments in terms of a small set of unifying economic principles: 1,2
Evaluate economic theories and apply them to the analysis of an open economy: 1,2
Utilise data from a variety of sources and work effectively with information technology: 1,2
Assess the effect of policy and other changes on the economy, recognising the basic tenents of policy evaluation: 1,2
Utilise a variety of mathematical skills and techniques to analyse the behaviour of small open economies: 1,2
Evaluate economic theories and apply them to the analysis of an open economy: 1,2
Utilise data from a variety of sources and work effectively with information technology: 1,2
Assess the effect of policy and other changes on the economy, recognising the basic tenents of policy evaluation: 1,2
Utilise a variety of mathematical skills and techniques to analyse the behaviour of small open economies: 1,2
Study hours
20 hours lectures
4 hours tutorials
123 hours independent study
2 hours exam
1 hour online test
4 hours tutorials
123 hours independent study
2 hours exam
1 hour online test
School Rules
None
Description of Module Assessment
Take away exam
Take-away exam which will be available on KLE for 24-hours to answer and submit your answer via Turnitin File. Although students have been given significant time to complete this exam script, we expect most students to spend no more than 3 hours to complete and submit their answers via Turnitin (with a maximum of 2000 words). Answers should be as accurate and concise as possible.
2: Online Tasks weighted 30%
50 minutes on-line task
On-line task