Course Details in 2020/21 Session

Module Title	LH Monetary Policy
School	Birmingham Business School
Department	Birmingham Business School
Module Code	08 03345
Module Lead	Christoph Gortz
Level	Honours Level
Credits	10
Semester	Semester 1
Pre-requisites
Co-requisites
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