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Module Title
LM Monetary Economics and the Macroeconomy
School
Birmingham Business School
Department
Economics
Module Code
07 40073
Module Lead
Dr. Alessandro Di Nola
Level
Masters Level
Credits
20
Semester
Semester 1
Pre-requisites
Co-requisites
Restrictions
None
Exclusions
Description
This module introduces students to topical issues in macroeconomics and monetary economics. At the same time, the module provides a basis for any further studies in these fields by introducing students to relevant theoretical models and applied econometric techniques. The module will discuss for example: the interaction between the 'real' and financial sectors of the economy; central bank design and resulting policy implications; the effects of technology shocks, monetary shocks and fiscal policy shocks on the economy. There will also be discussion on responsible decision making and welfare economics, that is, how to allocate the resource in the macroeconomy to maximize the social welfare for all economic agents.
Learning Outcomes
By the end of the module students should be able to:
Explain and compare standard theories in macroeconomics and monetary economics.
Critically evaluate the dilemmas (including ethical) and constraints facing policy makers.
Demonstrate the transmission mechanisms of various shocks through the economy.
Apply and develop optimal monetary policy to real world economic problems.
Develop analytical, digital and quantitative modelling skills, and written skills relating to economics.
