EC368-6-AU-CO:
International Money and Finance

The details
2023/24
Economics
Colchester Campus
Autumn
Undergraduate: Level 6
Current
Thursday 05 October 2023
Friday 15 December 2023
15
08 September 2023

 

Requisites for this module
(EC115 or BE300 or IA156 or MA101) and EC201
(none)
(none)
(none)

 

(none)

Key module for

BA 5A84 Financial Economics (Including Placement Year),
BA L111 Financial Economics,
BA L118 Financial Economics (Including Foundation Year),
BA L195 Financial Economics (Including Year Abroad),
BSC 0Q64 Financial Economics (Including Placement Year),
BSC L114 Financial Economics,
BSC L117 Financial Economics (Including Foundation Year),
BSC L194 Financial Economics (Including Year Abroad),
MECNL131 Financial Economics,
MECNLB31 Financial Economics (Including Placement Year),
MECNLB32 Financial Economics (Including Year Abroad),
BA 9O47 International Economics (Including Placement Year),
BA L115 International Economics,
BA L160 International Economics (Including Foundation Year),
BA L163 International Economics (Including Year Abroad),
BSC 5H18 International Economics (Including Placement Year),
BSC L116 International Economics,
BSC L161 International Economics (Including Foundation Year),
BSC L162 International Economics (Including Year Abroad),
MECNL132 International Economics,
MECNLC32 International Economics (Including Placement Year),
MECNLC33 International Economics (Including Year Abroad)

Module description

The course builds on the macroeconomics taught in the second year. It focuses on open economy macroeconomics, which is discussed at both an intuitive and a technically advanced level (for instance, by solving a system of difference equations).


First, foreign exchange markets and their links to prices and interest rates are shown to determine trade and asset flows. Second, various models of (interest and) exchange rate determination are used to explain short and long run effects on the aggregate economy. Third, the Dornbusch model, a model combining both short and long run effects, is studied in more detail.

Module aims

The aim of this module is:



  • To familiarise the student with the tools of open economy macroeconomics and show how these tools can be applied in macro-policy issues.

Module learning outcomes

By the end of this module, students will be expected to:



  1. Have acquired an appreciation of the role of international currency markets in the determination of economic outcomes.

  2. Be familiar with a range of models through which they can interpret movements in the exchange rate and its relationship to other key macroeconomic variables.

  3. Be familiar with the effects of monetary and fiscal policy in an international setting.

  4. Be able to critically assess the appropriateness of particular policies as a response to important events within the international monetary system.

  5. Have had an opportunity to learn how to approach research articles.

Module information

No additional information available.

Learning and teaching methods

The module will be delivered via:

  • One 2-hour lecture
  • One class per week

in one term.

Feedback for this module will occur through class meetings where we will go over the answers to problem sets and where you will be able to ask questions about your own method of solution; answers that will be posted on the website for the module that will give you written guidance on the appropriate method to approach the problems, assignments, and tests; and office hours where any additional questions can be addressed. You should be sure that you use these methods to understand how to improve your own performance.

Bibliography

The above list is indicative of the essential reading for the course.
The library makes provision for all reading list items, with digital provision where possible, and these resources are shared between students.
Further reading can be obtained from this module's reading list.

Assessment items, weightings and deadlines

Coursework / exam Description Deadline Coursework weighting
Coursework   EC368 mid-term in person test      
Exam  Main exam: In-Person, Open Book, 120 minutes during Summer (Main Period) 
Exam  Reassessment Main exam: In-Person, Open Book, 120 minutes during September (Reassessment Period) 

Exam format definitions

  • Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
  • In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
  • In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
  • In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary, for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.

Your department will provide further guidance before your exams.

Overall assessment

Coursework Exam
30% 70%

Reassessment

Coursework Exam
0% 100%
Module supervisor and teaching staff
Prof Christian Ghiglino, email: cghig@essex.ac.uk.
Lectures: Prof Christian Ghiglino / Classes: Dr Goher Fatima
For further information, send an email message to fineco@essex.ac.uk.

 

Availability
Yes
Yes
No

External examiner

Mr Pedro David Matos Serodio
Mr Teng Ge
Resources
Available via Moodle
Of 31 hours, 29 (93.5%) hours available to students:
0 hours not recorded due to service coverage or fault;
2 hours not recorded due to opt-out by lecturer(s), module, or event type.

 

Further information
Economics

Disclaimer: The University makes every effort to ensure that this information on its Module Directory is accurate and up-to-date. Exceptionally it can be necessary to make changes, for example to programmes, modules, facilities or fees. Examples of such reasons might include a change of law or regulatory requirements, industrial action, lack of demand, departure of key personnel, change in government policy, or withdrawal/reduction of funding. Changes to modules may for example consist of variations to the content and method of delivery or assessment of modules and other services, to discontinue modules and other services and to merge or combine modules. The University will endeavour to keep such changes to a minimum, and will also keep students informed appropriately by updating our programme specifications and module directory.

The full Procedures, Rules and Regulations of the University governing how it operates are set out in the Charter, Statutes and Ordinances and in the University Regulations, Policy and Procedures.