The 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 Method 1: 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 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.
Scheduled Directed Student Hours: 6
Attendance Recorded: Yes

Teaching 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: 6
Attendance Recorded: No

Self-Directed Learning Hours: 114
Description: The formal contact hours are supplemented by directed r eading and consultation with the module leader in office hours or by appointment.

Skills Mapping

Skill: Problem solving skills
How this is developed: This course is designed around the challenging problem of distilling complex issues into their most essential details and communicating this succinctly. Throughout the course, students will be observing me do this in the lectures and then applying it themselves in the seminars and final coursework.
Mode of assessment (if applicable): Seminar contribution and final coursework

Skill: Numeracy
How this is developed: Evidence-based argumentation is essential and students will observe in my lectures the use of data to support claims, and will bring evidence of their points to contribute to seminars. This involves understanding and manipulating data.
Mode of assessment (if applicable): Seminar contribution and final coursework

Skill: Commercial awareness
How this is developed: Taught: The course co nsiders policies and how these policies affect various agents. Students will have to consider how their proposals will affect the business community, and in doing so will have to think about how businesses will respond/react to proposals by “thinking like a CEO”.Mode of assessment (if applicable): Seminar contribution and final coursework

Skill: Communication skills
How this is developed: Seminars will be discussion focussed and require great communication skills to argue points succinctly. Similarly, the final coursework is a presentation.
Mode of assessment (if applicable): Seminar contribution and final coursework

Skill: IT skills
How this is developed: Researching and accessing data to support claims made in seminars and producing a final assessment coursework presentation.Mode of assessment (if applicable): Final coursework

Skill: International awareness
How this is developed: Taught (the course will cover many economic jurisdiction s: US, Europe, Asia) and well as an explicit section on international macroeconomics.Mode of assessment (if applicable): Seminar contribution and final coursework

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

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): Seminar contribution and final coursework

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

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): Seminar contribution and final coursework

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?