Policy Issues in the Global Economy

Module description


The module covers a range of topics including investment and capital flows, the world financial crisis 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 cannot be taken if you are going to take, are taking or have taken BEM2018 (International Management and Globalisation)

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

Additional Information:


As indicated by the title, this module explores investment and financial crisis, and sovereign debt crises. It is specifically designed for students who want to work in a globalised context and equips them with the skills to analyze international issues.


In this module students gain an understanding of economic models and economic traders, and the skills to analyse the issues they may encounter.  Students are equipped with theoretical knowledge and understanding which would help them work in international institutions like the IMF, World Bank, European central banks and the European Commission.


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:2017/8
Module lecturers:
  • Professor Ben Zissimos -
Module credit:15
ECTS value:





BEE2024 OR BEE2025 and BEE2026

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


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. The module therefore 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 the economics of climate change, immigration, the world financial crisis, and policies to mitigate environmental damage. 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 factors affecting the macroeconomic environment, explain how they interact, and thus assess the ramifications of a change in one factor on other macroeconomic variables
  • 2. evaluate the national and supra-national policy issues relating to international debt problems
  • 3. identify types of complexity that characterize international business operations

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

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

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

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: Global financial system

  • Causes and consequences of global financial crises
  • Basic concepts on the microeconomics of borrowing and inter-temporal choice

 Part II: Sovereign Debt Crises

  • Sovereign debt crises, economic and political aspects
  • Global Imbalances and currency unions

Indicative learning resources - Basic reading

Basic reading:

  • 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?


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