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.

(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 Delivery: Mixed, hybrid delivery with social distancing on campus.

Teaching Method 1: Online Asynchronous Learning Materials
Unscheduled Directed Student Hours: 24
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: 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. Each seminar will take the format of a small debate to discuss the issues raised in the preceding two lectures. Students will have been assigned a role previously and will be expected to prepare arguments before the class.
Scheduled Directed Student Hours: 12
Attendance Recorded: Yes

Teachi ng Method 3: 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: 12
Attendance Recorded: No

Self-Directed Learning Hours: 102
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 d eveloped: Accessing 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 assessment (if applicable):

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?