Unit name | Public Finance and Monetary Policy |
---|---|
Unit code | EFIMM0099 |
Credit points | 15 |
Level of study | M/7 |
Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
Unit director | Dr. Pawel Doligalski |
Open unit status | Not open |
Pre-requisites |
ECONM1011 Macroeconomics; ECONM1022 Econometrics |
Co-requisites |
Nil |
School/department | School of Economics |
Faculty | Faculty of Social Sciences and Law |
This unit provides training in selected topics in macroeconomic policy. It will prepare students for policy analysis within governments, central banks, and research institutes. Topics covered span fiscal policy (taxation, government spending, government debt) and monetary policy, and include the time series tools used in modern macroeconomic policy evaluation.
By the end of the course students will be able to:
1. Demonstrate knowledge and critical assessment of macroeconomics models and techniques, including some close to the research frontier,
2. Apply techniques learned in earlier units to specific macroeconomic problems,
3. Combine a conceptual comprehension of key topics in macroeconomic policy with the technical skills needed to solve relevant technical problems.
There will be lectures, exercise lectures and tutorials. The lectures will introduce and explain the different ideas, concepts and methods, their application, and limitations. The exercise lectures will focus on the required mathematical methods. These will be supplemented by classes, again focusing mainly on problem solving.
16 hours lectures
4 hours small-group classes
4 hours exercise lectures
No significant e-learning components are envisaged now, but the department is experimenting with additional teaching methods to improve the student learning experience.
Summative assessment: two hours long written exam (100%, tests ILO 1-3). The exam will test the knowledge, application and evaluation of tools and methods. It will combine technical problem-solving questions and open questions requiring a written answer, to ensure that it tests both conceptual understanding and reasoning, and ability in solving technical problems.
Formative assessment: class participation and discussion in tutorials, and assignments. These will provide further opportunities for feedback on the students’ progress.
Carmen M. Reinhart & Kenneth S. Rogoff, This Time Is Different: Eight Centuries of Financial Folly, 2011.
Michael Wickens, Macroeconomic Theory A Dynamic General Equilibrium Approach, 2012.
Matthias Doepke, Andreas Lehnert, and Andrew Sellgren, Macroeconomics, 1999.