This module studies international financial institutions such as the IMF, the Federal Reserve, the European Central Bank and the European Stability Mechanism. The focus is on the reasons for their existence, their policies and the effects of their policies on the international monetary system. It focuses on the period since the Second World War, especially the period of instability following the collapse of the Bretton Woods System. 

Students who complete the course successfully will have obtained an understanding of the institutional framework within which international financial relations are organised. They will have acquired a grasp of the relationship between aspirations of national economic policy and the constraints of the international environment. They will have gained some insight into the roles of the developed and the developing countries in managing the financial institutions of the world economy. It will improve students' abilities to gather information and enhance their essay-writing. It will encourage independent enquiry, communication skills and will contribute to professional working abillity. It will thus develop students' academic skills and enhance their employability.