Course Details in 2024/25 Session

Module Title	LM Monetary Policy
School	Birmingham Business School
Department	Economics
Module Code	07 40074
Module Lead	Christoph Gortz
Level	Masters Level
Credits	20
Semester	Semester 2
Pre-requisites
Co-requisites
Restrictions	None
Exclusions
Description	This module investigates the theoretical and empirical relationships between money growth, output growth and in ation in a variety of macroeconomic settings. It begins by covering the functions of money and the links between money and in ation, 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 assesses the optimal design of economic policy by discussing and analysing 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: Explain and appraise key elements 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 Demonstrate analytical, quantitative modelling skills and written skills relating to monetary policy
Assessment
Assessment Methods & Exceptions	Assessment: 1750-word individual essay (50%) 1.5-hour exam (50%) Reassessment: Resubmission of failed component(s): 1750-word individual essay (50%) 1.5-hour exam (50%)
Other
Reading List