Policy Issues in the Global Economy

Module description

Summary:

The module covers a range of topics including international trade policy issues, investment and capital flows and sovereign debt crises. The module will provide tools for analysis of the key economic trade-offs that shape decision-making in a globalised world.

This module must be taken in conjunction with BEE2024 (Economic Principles and Policy) or BEE2025 and BEE2026 (Microeconomics and Macroeconomics)

Additional Information:

Internationalisation

As indicated by the title, this module explores policy issues in the global economy. It is specifically designed for students who want to work in a globalised context and equips them with the skills to analyze international issues.

Employability

In this module students gain an understanding of international economic models, and the skills to analyse the issues they may encounter in an international setting.  Students are equipped with theoretical knowledge and understanding that would pave the way towards a career in international institutions like the IMF, World Bank, World Trade Organisation, European central banks and the European Commission.

Sustainability

All of the resources for this module are available through the ELE (Exeter Learning Environment).

Full module specification

Module title:Policy Issues in the Global Economy
Module code:BEE2021
Module level:2
Academic year:2018/9
Module lecturers:
  • Professor Ben Zissimos - Lecturer
Module credit:15
ECTS value:

7.5

Pre-requisites:

None

Co-requisites:

BEE2024 OR BEE2025 and BEE2026

Duration of module: Duration (weeks) - term 2:

11

Module aims

This module will enable students to expand their understanding of the international economic system, and to apply economic thinking to assess policy change at corporate, governmental and organisational / institutional levels. It covers a range of topics including the key factors that influence and change the nature of world trade, investment and financial movements as well as other wider policy issues in the global economy such as sovereign debt crises. The module will not only provide coverage of major issues facing countries in a globalised world but also illustrate how economics can provide detailed insights to address these topical issues.

ILO: Module-specific skills

  • 1. Understand the workings of international trade policy, and how these motivate the need for international trade agreements
  • 2. Understand the factors affecting the macroeconomic environment, explain how they interact, and thus assess the ramifications of a change in one factor on other macroeconomic variables
  • 3. evaluate the national and supra-national policy issues relating to international debt problems

ILO: Discipline-specific skills

  • 4. Demonstrate ability to think analytically
  • 5. Demonstrate ability to interpret economic data
  • 6. demonstrate ability to question common assumptions held within the business environment

ILO: Personal and key skills

  • 7. Demonstrate capacity for analytical thought and reasoned discussion
  • 8. Demonstrate capacity for independent study skills
  • 9. Demonstrate capacity for written and oral communication skills

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching ActivitiesGuided independent studyPlacement / study abroad
221280

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Scheduled Learning and Teaching Activities22Lectures

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Model QuestionsIn class1-9Model Answers

Summative assessment (% of credit)

CourseworkWritten examsPractical exams
01000

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
Exam801 hour 30 minutes1-9Final grade; Exam's indicative answers will be posted on ELE
Mid-term Exam2050 minutes1-9Written Feedback
0
0
0
0

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Exam and MCQExam 2 hours (100%)1-9Aug/Sep

Syllabus plan

Part I: World Trading System 

  • The instruments and motivations behind international trade policy 
  • The role of the WTO

 Part II: Global Financial System, including Sovereign Debt Crises

  • The workings of the global financial system
  • Global Imbalances and sovereign debt crises

Indicative learning resources - Basic reading

Basic reading:

Main Course Textbook:

Paul Krugman, Maurice Obstfeld and Marc Melitz International Economics: Theory and Policy

Note: there are many versions of this book, including the ‘Global Edition’ and ones that do not have the extension ‘Global Edition’.  Although the most up-to-date editions will be most closely applicable to the course, you will be able to get by with older (i.e. cheaper) alternatives on the web.

Supplementary Textbooks (optional):

  • Benassy-Quere et al.(2010), Economic Policy. Theory and Praxtice. Oxford University Press
  • Blanchard, O.,A. Amighini, F. Giavazzi (2013) Macroeconomics, A European Perspective, 2nd ed., Prentice Hall, Pearson
  • Montiel (2009) International Macroeconomics, Wiley
  • De Grauwe (2014) Economics of Monetary Union, Oxford University Press
  • Brender et al.(2013), The Sovereign Debt Crisis, CEPS
  • Lemieux (2013), The Public Debt Problem, Palgrave
  • Borooah (2014), Europe in an Age of Austerity, Palgrave
  • Salin (2014) Money and Macro-economics, IEA
  • Lienau (2014) Sovereign Debt. Harvard University Press

Module has an active ELE page?

Yes

Origin date

01/09/2009

Last revision date

19/01/2018