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Module Title LM Monetary Policy (SIM)
SchoolBirmingham Business School
Department Birmingham Business School
Module Code 07 28061
Module Lead Dr Ufuk Gunes Bebek
Level Masters Level
Credits 10
Semester Semester 2
Pre-requisites
Co-requisites
Restrictions None
Contact Hours
Exclusions
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
Assessment Methods & Exceptions Assessments: 2 hour written examination (100%)
Reassessment: 2 hour examination (100%)
Other
Reading List