|Course code: 171806||Subject title: MACROECONOMICS IV|
|Credits: 6||Type of subject: Optative||Year: 4||Period: 1º S|
International Economics, Exchange rates, Foreign exchange markets.
GP01. Ability to analyze and summarize.
GP04. Writing and Speaking in English.
GP07. Ability to solve problems
GP09. Team work.
GP11. Work in an international environment.
GP12. Information search.
GP17. Autonomous learning.
SP01. Understand the behavior of economic institutions with formal models.
SP04. Use economic analysis with scientific instruments.
SP05. Write reports describing economic phenomena.
SP06. Research projects at international, national or regional levels.
SP10. Evaluate the performance of alternative policies and select them with technical criteria.
International finance and foreign exchange markets.
Exchange rate regimes.
An introduction to dynamic macroeconomic models with rational expectations.
Optimal monetary areas and the Eurozone case.
|Activities||On-class Hours||Off-class Hours|
|A-6 Individual studying||45|
|A-8 Office Hours||04|
|Lectures||GP01, GP07, SP01, SP04 and SP10.|
|Seminars||GP04, GP07, GP09, GP12, GP19, SP04, SP05, SP06 and SP10.|
|Homeworks||GP04, GP07, GP09, GP11, GP12, GP19, SP05, SP06 and SP10.|
|Office Hours||GP02, GP04, GP07 and GP09.|
|Mid-term and Final Exam||GP01, GP04, GP07, GP12, GP17, SP01, SP04 and SP10.|
Practice consists of the evaluation in the seminar sessions and it may come from differentiated items (problem sets, other individual or group homework, presentations, in-class quizzes or individual exercises, etc.)
A minimum mark of 4/10 in either the final or the retake exam is required to pass the course.
Those students who do not take any of the two final exams will obtain the overall grade "NO PRESENTADO".
This course examines short-run fluctuations in business cycles, with special attention focused on the effects of fiscal and monetary policies on GDP. Models assume fixed prices in the short-run and fully-flexible prices in the long-run equilibrium. The analysis is based on an open-economy macroeconomic model with asset markets, goods market and an either floating or fixed rates in the foreign exchange market.
1. National Income Accounting and the Balance of Payments
2. Exchange Rates and the Foreign Exchange Market: An Asset Approach
3. Money, Interest Rates, and Exchange Rates
4. Output and the Exchange Rate in the Short Run
5. Price Levels and the Exchange Rate in the Long Run
6. Fixed Exchange Rates and Foreign Exchange Intervention
7. An introduction to dynamic macroeconomic models with rational expectations.
8. Optimum Currency Areas and the Euro
9. Financial Globalization: Opportunity and Crisis
International Economics: Theory and Policy (2018), 11th edition, Paul R. Krugman, Maurice Obstfeld, and Marc Melitz. Pearson.
Aulario on Campus Arrosadia, UPNA. Classroom TBA.