6
MANAGEMENT SCHOOL
Learning to Make a Difference
MODULE HANDBOOK
ECON340
The Euro and European Monetary Integration
2011/2012
Instant Feedback Facility (IFF)
We want to hear from our students. If you have any comment or suggestion on any aspect of this module (or any module) please send it to: p.ferrington@liv.ac.uk . Make sure that you clearly mark your e-mail message "IFF - Instant Feedback Facility"
1. Module information
Name of module The Euro and European Monetary Integration
Module code ECON340
Credit value 15 Credits
Semester in which the module is taught Semester 2
Pre-requisites needed for the module None
The module is available to the following programmes: L100 (3), L111 (3), LN11 (3), L000 (3) Y001 (3) GL11 (3)
Lecture schedule Fri 15.00-17.00 Lecture Theatre 3, Rendall Building
Workshop/seminar/tutorial schedule Mon 10.00-11.00 LT4 / LT2 Rendall
2. Module Leader and Contact Details
Name of module leader Dr Chris Mulhearn
Email address of module leader C.J.Mulhearn@liverpool.ac.uk
Telephone number of module leader
Office address and office hours of module leader
Names and contact details of any additional teaching staff involved with the module.
An indication of the preferred mode of contact (if relevant) email
3. Module Objectives
· To explain the political and economic processes underpinning the long history of European monetary integration
· To explain the particular genesis of the euro
· To explore the medium-term prospects for the euro area
· To explore issues around British membership of the euro area
4. Learning Outcomes
At the end of the module the student will be able to:
· Explain the origins of the European integration process
· Explain why the European project developed to embrace monetary integration
· Explain the particular historical forms that monetary integration assumed in the 1970s and 1980s
· Explain the origins and development of the euro
· Critically evaluate optimum currency area theory
· Critically evaluate the institutional architecture of the euro area
· Critically evaluate the medium-term prospects of the euro area
· Critically evaluate the arguments for British participation in the euro area
The learning outcomes of the module are devised taking into consideration the learning goals of Management School programmes.
5. Teaching and Learning Strategies
The module will be delivered by a combination of lectures and tutorials. Lectures will cover the history of monetary integration and its theoretical precepts. Fortnightly tutorials will provide the opportunity to consolidate and extend understanding through a combination of reading-based discussion and student-centred learning. This module requires 121 hours of private study over the semester.
All lectures are summarised in PowerPoint and are available on VITAL
6. Assessment
Type(s) of assessment will be used: Individual assignment and Examination (essay format)
Submission deadlines and date of return of work to students Friday 23 April / Friday 11 May
The maximum length of any coursework elements: Assignment, 1500 words
The weighting of the assessment components: Assignment 30%; Exam 70%
Tips for achieving good marks in assessments: See specific assessment criteria for the assignment and exam
Learning tips: Economics tends to be a linear discipline. For this module economic history and the history of economic policy are as central as economic theory. Europe is a place where exchange rates have been heavily managed or fixed for a very long time. The reasons have to do with history; the different kinds of exchange rate policy that have been tried have a lot to do with learning from past mistakes. This means that to get the most from the module it’s important not to let your attendance slip and to keep up your weekly reading. Developing a long-term perspective may help you to do exceptionally well in the module.
The format of the exam paper
Sample assessment questions/details of where they can be found: Sample exam paper on VITAL
Penalty for using Wikipedia or Wiki sites: Standard penalties apply (page 131 UG student handbook)
Referencing work: The general principle is that the reader should be clear about all your sources. Please use the Harvard system.
Marking criteria for the assignment:
· Your essay should contain an introduction that sets out the terms of the debate.
· You should offer a reflective conclusion that both highlights your main findings and indicates the limits of your analysis.
· Your work should have a strong empirical basis.
· It is important to use the literature, and to be prepared to critically evaluate your sources.
Marking criteria for the examination:
· Your exam answers should address the set question; don’t just offer up your revision.
· Your exam answers should contain an introduction that sets out the terms of the debate.
· You should offer a reflective conclusion that both highlights your main findings and briefly indicates the limits of your analysis.
· Your work should have some empirical basis.
· Credit is given for wide reading and the use to which it is put. There is no need to confine yourself to the reading list for the module.
Students are reminded that the following important information is published in the ULMS Undergraduate Student Handbook, available on-line at:
http://www.liv.ac.uk/managementschool/undergraduate/current_students.htm:
The information includes advice on:
How to reference your work
Lateness penalties
What to do if you require an extension
The marking criteria that will be used for this module
Re-sits”
“This coursework requires dual submission. You must hand in a hard copy to the Student Support Office (post into the black submission boxes outside the office). You must also submit a soft copy via Turnitin, which is a plagiarism and collusion detection system. If you do not submit to Turnitin your work will not be marked. Failure to submit an identical version via Turnitin compared to your hard copy will attract a penalty of 10 marks.
To submit via Turnitin, you go to the assessment area for the module on VITAL and you will find a link for the coursework. Click on View/Complete and then on the “submit” icon for the paper. You are then prompted to submit a title for the paper. Use the “browse” button to locate the file you want to submit, then click “submit”. You will then be asked to confirm that you want to submit by clicking the “Yes, submit” button.”
7. Lecture programme
1. The origins of European integration
2. The case for fixed exchange rates in the post-1945 period
3. European monetary integration in the 1970s – the Werner Plan manque
4. Reviving monetary integration in the 1980s – the ERM
5. The ERM in crisis – the poverty of hard-fixed exchange rates
6. European integration and the euro
7. Optimum currency area theory – a critical evaluation
8. Evaluating the euro’s institutional architecture
9. Issues around euro area enlargement
10. Issues around British membership of the euro area
11. Futures for the euro area
12. Revision class
8. Seminar/tutorial/workshop programme
The objective of each tutorial is to reflect on the subject material covered in the lectures and to deepen your understanding of it.
A number of questions are posed in each tutorial. You need to come to the tutorials prepared to answer them.
1. What were the economic and political origins of the EU?
2. Are these still relevant? Which is more important?
3. What does Britain / your economy gain from EU membership?
4. Would leaving the EU be desirable?
5. What elements of the EU do you find least attractive?
1. ...
geminus