Course code: 171806 | Subject title: INTERNATIONAL ECONOMICS | ||||
Credits: 6 | Type of subject: Optative | Year: 4 | Period: 1º S | ||
Department: | |||||
Lecturers: | |||||
CASARES POLO, MIGUEL (Resp) [Mentoring ] |
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.
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.
GP19. Creativity.
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.
Open-economy macroeconomics.
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-1 Lectures | 30 | |
A-2 Seminars | 20 | |
A-3 Discussions | 10 | |
A-4 Homeworks | 25 | |
A-5 Readings | 10 | |
A-6 Individual studying | 45 | |
A-7 Exams | 06 | |
A-8 Office Hours | 04 | |
Total | 66 | 84 |
Weight | Second-call replaceable | |
Practice | 35% | NO |
Midterm exam | 25% | YES |
Final exam | 40% | YES |
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 exam or the retake exam is a necessary condition to pass the course.
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
Access the bibliography that your professor has requested from the Library.
International Economics: Theory and Policy (2015), 10th edition, Paul R. Krugman, Maurice Obstfeld, and Marc Melitz. Pearson.