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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
Lecture Time: See Timetable...
Level: Level 5
Credits: 15
Study Hours: 150
School Office: 01782 733094

Programme/Approved Electives for 2022/23

None

Available as a Free Standing Elective

Yes

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

Study hours

20 hours lectures
4 hours tutorials
123 hours independent study
2 hours exam
1 hour online test

School Rules

None

Description of Module Assessment

1: Exam weighted 70%
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

Please note that for the 2022/23 Academic Year programmes may be adapted to operate in accordance with a flexible, digital approach. This means that there may be some changes made to how modules are delivered and assessed. The latest information will be provided to you by your School in module handbooks. We endeavour to give you as much notice as possible of any changes and details about the circumstance in which changes are made to programmes can be found in the Student Agreement, available at: https://www.keele.ac.uk/student-terms-and-conditions/

Last Updated: 19 January 2023