Programme And Module Handbook
Course Details in 2020/21 Session

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Module Title LH Monetary Policy
SchoolBirmingham Business School
Department Birmingham Business School
Module Code 08 03345
Module Lead Christoph Gortz
Level Honours Level
Credits 10
Semester Semester 1
Restrictions Available to all students who have been allowed onto the second year of a degree programme in the Department of Economics (including Joint Honours) or who have passed 08 08336/08 08338 Macroeconomics AB
Contact Hours Lecture-20 hours
Guided independent study-80 hours
Total: 100 hours
Exclusions none
Description This module builds on the main macroeconomic models studied at Level 2 with a particular emphasis on the role of monetary policy, and its effectiveness or otherwise, in those models. The first part of the course will consider some of the building blocks of a monetary macroeconomic model such as the demand for money, supply of money and the term structure of interest rates. The latter part of the course will concentrate on policy issues relevant to the conduct of modern monetary policy such as credibility, the transmission mechanism, the welfare costs of inflation and inflation targeting.
Learning Outcomes On completion of this module the student will be able to;
  • situate the theoretical models studied at Level 2 in the context of modern macroeconomics research and discuss the main issues relating to the effectiveness of monetary policy;
  • read and understand selected papers from professional journals;
  • discuss issues relating to the conduct of monetary policy both in the UK and in the wider international economy.
Assessment 03345-01 : Exam : Exam (Centrally Timetabled) - Written Unseen (50%)
03345-03 : Essay : Coursework (50%)
Assessment Methods & Exceptions Assessment: 1000 word essay (50%), 1 hour final exam (50%).
Reassessment: by failed element
Other none
Reading List  Romer, Advanced Macroeconomics, 4th Ed., McGraw-Hill