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University of Exeter Business School

Macroeconomics of Money and Financial Markets

Module titleMacroeconomics of Money and Financial Markets
Module codeBEEM120
Academic year2023/4
Module staff

Dr Dudley Cooke (Convenor)

Duration: Term123
Duration: Weeks


Number students taking module (anticipated)


Module description


This module explores the core areas of modern macroeconomics and will develop your understanding of macroeconomic models. The emphasis will be on learning theoretical concepts and analytical techniques, as an aid to understanding contemporary macroeconomic problems.

Additional Information:

All course material can downloaded from the ELE (Exeter Learning Environment).


Previous students have successfully found jobs in centres that deal with current trends in economic activity and government institutions, such as central banks.

Module aims - intentions of the module

The aim of the module is to present a coherent explanation of how the macroeconomic system is organized as  and to highlight its connection with financial markets. The emphasis will be on learning theoretical concepts and techniques, as an aide to understanding contemporary macroeconomic problems. The module aims to develop a students’ ability to think critically about developments in financial markets and money institutions. Students then can interpret current events as the logical outcome of principles.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

  • 1. manipulate a number of models to be used to analyse macroeconomic issues
  • 2. critically analyse macroeconomic articles in academic journals

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

  • 3. manipulate economic macroeconomic models at the master’s level
  • 4. place an economic problem in its broader social and political context
  • 5. identify and apply the sources and content of economic data

ILO: Personal and key skills

On successfully completing the module you will be able to...

  • 6. identify, tackle and solve research problems confidently
  • 7. apply logical thinking and analytical rigor
  • 8. apply inductive and deductive reasoning skills
  • 9. work independently.

Syllabus plan

  • The IS-LM Model: Fiscal and Monetary Policy
  • Liquidity Traps and Aggregate Demand
  • Ricardian Equivalence
  • Nominal Rigidities, Aggregate Supply, and the Phillips Curve
  • Optimal Monetary Policy
  • Open Economy Macroeconomics: Fiscal and Monetary Policy Revisited


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 activities18Lectures
Scheduled learning and teaching activities9Tutorials
Guided independent study123Reading, preparation for classes and assessments

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Tutorial QuestionsIn class1-9In class

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
Mid-term examination3050 minutes1-9Written feedback
Final examination 7090 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
Mid term examinationMid term examination (30%) (50 minutes)1-9Aug/Sep
Final examination Final examination (70%) (90 minutes)1-9Aug/Sep

Indicative learning resources - Basic reading

Mankiw, N. Gregory, 2016. Macroeconomics (9th ed.), Macmillan

Blanchard, O., Giavazzi, F., Amighini, A. 2013. Macroeconomics: A European Perspective (3rd ed.), Pearson.


Key words search

Macroeconomics; financial markets; monetary and fiscal policy; exchange rate

Credit value15
Module ECTS


Module pre-requisites


Module co-requisites


NQF level (module)


Available as distance learning?


Origin date


Last revision date