Programme And Module Handbook
Course Details in 2021/22 Session

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Module Title LM Monetary Policy
SchoolBirmingham Business School
Department Economics
Module Code 07 27174
Module Lead Christoph Gortz
Level Masters Level
Credits 10
Semester Semester 2
Restrictions None
Description Monetary Policy investigates the empirical relationships between money growth, output growth and inflation in a variety of macroeconomic settings. It begins by covering the functions of money and the links between money and inflation, looking at both short-run and long-run relationships. The role of imperfect competition and price rigidities are analysed, along with new Keynesian models which consider price setting in the context of the New Keynesian Phillips curve. The module concludes by assessing the optimal design of economic policy by discussing the objectives and instruments of monetary policy. The theory and practice of monetary policy in recent years are examined in a global context.
Learning Outcomes By the end of the module students should be able to:
  • Demonstrate a systematic understanding of monetary policy theory;
  • Critically evaluate the dilemmas and constraints facing monetary policy makers;
  • Demonstrate an in-depth knowledge and understanding of the monetary transmission mechanism for macroeconomic behaviour and policy;
  • Appraise and synthesise the current macroeconomics literature on monetary policy;
  • Have a comprehensive understanding of the role of financial intermediaries in macroeconomics.
Assessment 27174-01 : 1Hr Exam : Exam (Centrally Timetabled) - Written Unseen (50%)
27174-02 : Assignment : Coursework (50%)
Assessment Methods & Exceptions 1000 word coursework (50%) and a 1 hour exam (50%)

Reassessment: as main assessment
Reading List