- UCAS course code
- L900
- UCAS institution code
- M20
Bachelor of Arts (BAEcon)
BAEcon Development Studies
In-depth study into the problems and options faced by the developing world.
- Typical A-level offer: AAA including specific subjects
- Typical contextual A-level offer: ABB including specific subjects
- Refugee/care-experienced offer: BBB including specific subjects
- Typical International Baccalaureate offer: 36 points overall with 6,6,6 at HL, including specific subjects
Fees and funding
Fees
Tuition fees for home students commencing their studies in September 2025 will be £9,535 per annum (subject to Parliamentary approval). Tuition fees for international students will be £29,500 per annum. For general information please see the undergraduate finance pages.
Policy on additional costs
All students should normally be able to complete their programme of study without incurring additional study costs over and above the tuition fee for that programme. Any unavoidable additional compulsory costs totalling more than 1% of the annual home undergraduate fee per annum, regardless of whether the programme in question is undergraduate or postgraduate taught, will be made clear to you at the point of application. Further information can be found in the University's Policy on additional costs incurred by students on undergraduate and postgraduate taught programmes (PDF document, 91KB).
Scholarships/sponsorships
Scholarships and bursaries, including the Manchester Bursary , are available to eligible home/EU students.
Some undergraduate UK students will receive bursaries of up to £2,000 per year, in addition to the government package of maintenance grants.
You can get information and advice on student finance to help you manage your money.
Course unit details:
Macroeconomics 4
Unit code | ECON20032 |
---|---|
Credit rating | 10 |
Unit level | Level 2 |
Teaching period(s) | Semester 2 |
Available as a free choice unit? | Yes |
Overview
This one-semester course in international macroeconomics aims to provide students with the theoretical tools and empirical facts for understanding and thinking critically about macroeconomics in an international context. At the end of the term students will be able to interpret some key international macroeconomic policy issues, presented in policy-oriented publications and the popular press, using a new core theoretical framework where banks play a prominent role, and to understand how national macroeconomic policy challenges intersect with international economic issues - including the ongoing fight by central banks to bring inflation under control.
Pre/co-requisites
Unit title | Unit code | Requirement type | Description |
---|---|---|---|
Advanced Mathematics | ECON10071A | Pre-Requisite | Compulsory |
Macroeconomics 3 | ECON20031 | Co-Requisite | Compulsory |
Advanced Mathematics | ECON20071 | Co-Requisite | Compulsory |
Advanced Mathematics | ECON10071B | Pre-Requisite | Compulsory |
ECON20032 Prerequisites: C: ECON20031 and P: ECON10071 or C: ECON20071
Aims
This one-semester course in international macroeconomics aims to provide students with the theoretical tools and empirical facts for understanding and thinking critically about macroeconomics in an international context. At the end of the term students will be able to interpret some key national and international macroeconomic policy issues, presented in policy-oriented publications and the popular press, using a new core theoretical framework where banks play a prominent role, and to understand how national macroeconomic policy challenges intersect with international economic issues - including the ongoing fight by central banks to bring inflation under control.
Learning outcomes
Syllabus
Provisional Syllabus (9 weeks)
The course will focus on the following topics:
Topic 1. National Accounts and the Balance of Payments. [1 session]
Topic 2. Exchange Rates and the Foreign Exchange Market. [1 session]
Topic 3. Macroeconomic Policies in an Open Economy: The FF-GG-XX model. [5
sessions]
Topic 4. Financial Globalisation: Global Banking, Capital Flows and Macro-Financial Stability. [1 session]
Topic 5. International Coordination of Macroeconomic Policies. [1 session]
Tutorials (5 sessions)
Session 1. Structure of the FF-GG-XX model. Derivation of the GG and XX curves and solution of the FF-GG-XX model under fixed exchange rates.
Session 2. Policy analysis and transmission of external shocks in the FF-GG-XX model under fixed exchange rates.
Session 3. Derivation of the FG and XX curves, and solution of the FF-GG-XX model under flexible exchange rates.
Session 4. Policy analysis and transmission of external shocks in the FF-GG-XX model
Session 5. Application: Fighting high inflation
General References
Robert C. Feenstra, and Alan M. Taylor, International Macroeconomics, 5th ed.,
Macmillan. 2021. Hereafter FT.
Pr. P.-R. Agénor, "The FF-GG-XX Model for Macroeconomic Policy Analysis in an Open
Economy," Technical Manual.
General References, by Topic
Topic 1 : FT Chapter 5.
Topic 2: FT Chapters 2 and 4.
Topic 3: TM (mandatory reading, except for Section 4 and Appendix). Topic 4: FT Chapter 6.
Topic 5: Technical Note (optional reading).
Teaching and learning methods
Synchronous activities (such as Lectures or Review and Q&A sessions, and tutorials), and guided self-study
Knowledge and understanding
At the end of this course students should be able to understand:
1. Key concepts of national accounts in an open economy;
2. The functioning of the foreign exchange market and the role of interest parity conditions in determining fluctuations in national currencies;
3. How fiscal and monetary policies affect macroeconomic aggregates, including output, prices, and the current account, as well as exchange rates, in an open economy where banks play a critical role in the financial system;
4. How the globalisation of banking affects the international transmission of financial shocks;
5. The benefits of international coordination of macroeconomic policies in response to global shocks.
Intellectual skills
(i) problem-solving skills;
(ii) skills of analysis, and the use of analytical models;
(iii) the evaluation and critical analysis of arguments, theories and policies;
(iv) understand and evaluate policy-oriented publications on international macroeconomic issues.
Practical skills
(i) independently locate and assess relevant literature, and to draw on these to develop understanding and to construct arguments.
Transferable skills and personal qualities
(i) select and deploy relevant information;
(ii) communicate ideas and arguments in writing;
(iii) apply skills of analysis and interpretation;
(iv) manage time and work to deadlines;
(v) use ICT to locate, analyse, organise and communicate information (e.g. internet, on-line databases, search engines, library catalogues, spreadsheets, specialist programs, word processing and presentation software).
Assessment methods
20% Mid-term exam. Online, multiple choice questions on taught material.
80% Exam, Open book exam.
Feedback methods
Piazza, drop-in sessions, virtual office hours.
Recommended reading
Teaching staff
Staff member | Role |
---|---|
Pierre-Richard Agenor | Unit coordinator |
Additional notes
For every 10 course unit credits we expect students to work for around 100 hours. This time generally includes any contact times (online or face to face, recorded and live), but also independent study, work for coursework, and group work. This amount is only a guidance and individual study time will vary.