EC4409 (Provisional may change)
International Macroeconomics
LECTURERS:
Ms Gosia Mitka (Principal Module Teacher)
LECTURES:
20 lectures
2 lectures per week on XX and XX at XXpm in
XX.
EXAMINATION:
A single two-hour paper
Structure: Answer three out of four questions
FINAL GRADE:
Examination 50% weight;
Essay 25% weight;
Class Test 25% weight.
Martinmas (First) Semester 2015/16
CREDITS: 20
TUTORIALS:
5 hours
CONTINUOUS ASSESSMENT
One essay (1,500 words) to be submitted
by 12 noon on TBA.
Class Test
ATTENDANCE REQUIREMENTS:
Introduction
This module provides a comprehensive treatment of selected aspects of international
macroeconomics. The course makes intensive use of mathematical techniques of exchange
rate modelling. The module aims to deepen understanding of the functioning of the
international monetary and financial system, and to familiarise students with some key
issues in the literature of international macroeconomics.
Learning Outcomes
Students will gain a thorough understanding of the role of international relative price
movements in open economies, how these relative price movements can be modelled, and
how successful attempts to model exchange rates have been empirically, as well as how
macroeconomic policy works in open economy.
Course Outline
Topics will be taken from the following areas:
1.
2.
3.
4.
5.
6.
7.
Exchange Rates and the Balance of Payments
Prices and Financial Markets in an Open Economy
Macroeconomic Policy in an Open Economy
The Monetary Approach to the Balance of Payments
Monetary Models of Exchange Rate Determination
Empirical Evidence on Exchange Rates and Capital Flows
Models of Currency Crisis
Preliminary Reading
Pilbeam, K., 2013. International Finance, 4th ed., Palgrave Macmillan.
Secondary Textbooks:
Copeland, 2014, Exchange Rates and International Finance, 6th edition, Pearson
Krugman, Obstfeld and Melitz, 2015, International Economics: Theory and Policy, 10th
edition, Pearson