ULMS Electronic Module Catalogue

The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title DEBATES IN MACROECONOMIC POLICY
Code ECON355
Coordinator Dr TP Jackson
Economics
Timothy.Jackson2@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2021-22 Level 6 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):

ECON123 PRINCIPLES OF MACROECONOMICS; ECON223 MACROECONOMICS I 

Modules for which this module is a pre-requisite:

 

Programme(s) (including Year of Study) to which this module is available on a required basis:

 

Programme(s) (including Year of Study) to which this module is available on an optional basis:

 

Teaching Schedule

  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 24

12

      12

6

54
Timetable (if known) 120 mins X 1 totaling 24
 
60 mins X 1 totaling 5
 
      120 mins X 1 totaling 24
 
 
Private Study 96
TOTAL HOURS 150

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Assessment 1: Midterm Assessment Type: Written Exam, Unseen, Not Managed by SAS Duration: 2 hours Weighting: 40% Reassessment Opportunity: Yes. Penalty for Late Submission: Standard UoL penalty a  2 hours    40       
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Assessment 2: Narrated presentation Assessment Type: Presentation Duration / Size: 10 mins Weighting: 50% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty applies   10 minutes    50       
Assessment 3: Seminar Participation Assessment Type: Practical Assessment Weighting: 10% Reassessment Opportunity: No Penalty for Late Submission: N/A Anonymous Assessment: No Assessment notes  N/A    10       

Aims

This aim of this module is to equip the students with the knowledge and skills to critically analyse important and timely macroeconomic policy issues. This will prepare students for a better understanding of the policy environment in which businesses operate. Thus, it will prepare students for their post-degree careers whether working in business or for a policy institution. Students will develop an in-depth knowledge and understanding of monetary, fiscal and regulatory policy. The learning and assessment design for the module will ensure that students will develop a wide set of critical evaluation and presentation skills.


Learning Outcomes

(LO1) Students will be able to critically analyse contemporary macroeconomic policy issues.

(LO2) Students will be able to understand how crises have shaped and reshaped our thinking of macroeconomic policies.

(LO3) Students will have the knowledge to be able to explain the role of macroprudential, monetary, and fiscal policy and financial regulations.

(LO4) Students will be able to read and understand the financial press and journal articles that make use of the concepts and methods that are introduced in the module.

(S1) Problem solving skills

(S2) Numeracy

(S3) Commercial awareness

(S4) Communication skills

(S5) IT skills

(S6) International awareness

(S7) Lifelong learning skills

(S8) Ethical awareness

(S9) Teamwork

(S10) Organised and able to work under pressure


Teaching and Learning Strategies

Teaching Method 1: Online Asynchronous Learning Materials
Unscheduled Directed Student Hours: 12
Description: The recorded session programme provides a core framework of different policy topics that will be discussed, including theories, historical context and empirical evidence.
Attendance Recorded: No

Teaching Method 2: Synchronous Lecture
Description: The lecture programme provides a core framework of different policy topics that will be discussed, including theories, historical context and empirical evidence.
Scheduled Directed Learning Hours: 24
Attendance Recorded: No

Teaching Method 3: Seminars
Description: The seminar programme supports the lectures by providing focus for private study around the seminar tasks, including review of lecture materials and also an opportunity for students to raise areas where they are having difficulty.
Scheduled Directed Student Hours: 12
Attendance Recorded: Yes

Teaching Method 4: Group Study
Description: Weekly 1 hour session to foster student community and engagement by working with others on their ‘active learning’ activities
Scheduled Student Hours: 6
Attendance Recorded: No

Self-Directed Learning Hours: 96
Description: The formal contact hours are supplemented by directed reading and consultation with the module leader in office hours or by appointment.

Skills Mapping

Skill: Problem solving skills
How this is developed: Taught
Mode of assessment (if applicable):

Skill: Numeracy
How this is developed: Taught
Mode of assessment (if applicable):

Skill: Commercial awareness
How this is developed: Taught: The role of policy for the business community
Mode of assessment (if applicable):

Skill: Communication skills
How this is developed: Seminars will be discussion focussed
Mode of assessment (if applicable):

Skill: IT skills
How this is developed: Acces sing course materials and assessments via Vital, producing video
Mode of assessment (if applicable):

Skill: International awareness
How this is developed: Taught (the course will cover many economies jurisdictions: US, Europe, Asia)
Mode of assessment (if applicable): All

Skill: Lifelong learning skills
How this is developed: Ability to critically appraise the work of others
Mode of assessment (if applicable):

Skill: Ethical awareness
How this is developed: Taught: Understanding of the role of policy for correcting market failures and improve social welfare.
Mode of assessment (if applicable):

Skill: Teamwork
How this is developed: Students can work in small groups to complete the coursework
Mode of assessment (if applicable):

Skill: Organised and able to work under pressure
How this is developed: Completing the coursework – which is largely self-directed – within a limited timeframe
Mode of asses sment (if applicable):


Syllabus

 

The module covers the following topics:
• What is the role of a central bank and how do they use monetary and macro-prudential policy?
• How can governments use countercyclical fiscal policy?
• What are the trade-offs faced in the design of financial regulation?
• What determines a country’s choice of exchange rate regime?
• Should governments manage capital account flows?
• Should governments do more to tackle inequality, climate change and discrimination?


Recommended Texts

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.