Dr J Thomson. A three-year sequence in economics, including 316-313 Microeconomics (which may be taken as a co-requisite)or equivalent. Second semester Three hours a week of seminars or lectures and tutorials. On completion of this subject students should be able to:

• understand the main theories used in the study of monetary economics;
• judge the usefulness and the limitations of advanced theory in the area of monetary economics;
• critically evaluate contemporary policy debates in the area of monetary economics with reference to advanced economic theory;
• extend their knowledge of monetary economics via independent study and by taking advanced subjects dealing with theory and policy in this area.

The course will cover advanced monetary theory and policy. Topics covered will include theories of money demand and money supply, monetary macroeconomics, and the theory of monetary policy. International aspects will be covered where appropriate. A 3-hour examination (80 per cent) and class assignments totalling approximately 3,000 words (20 per cent). To be advised