Public University of Navarre

Academic year: 2020/2021 | Previous academic years:  2019/2020  |  2018/2019  |  2017/2018  |  2016/2017 
Bachelor's degree in Economics at the Universidad Pública de Navarra
Course code: 171806 Subject title: INTERNATIONAL ECONOMICS
Credits: 6 Type of subject: Optative Year: 4 Period: 1º S
Department: Economía
CASARES POLO, MIGUEL (Resp)   [Mentoring ] FUENTES IRIARTE, RAQUEL   [Mentoring ]

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Module/Subject matter




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.


General proficiencies

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.


Specific proficiencies

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.


Learning outcomes

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 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".



0. National Income Accounting and the Balance of Payments

1. Exchange Rates and the Foreign Exchange Market: An Asset Approach

2. Money, Interest Rates, and Exchange Rates

3. Output and the Exchange Rate in the Short Run

4. Fixed Exchange Rates and Foreign Exchange Intervention

5. An Introduction to Dynamic Macroeconomic Models with Rational Expectations.

6. Price Levels and the Exchange Rate in the Long Run

7. Optimum Currency Areas and the Euro.



Access the bibliography that your professor has requested from the Library.

International Economics: Theory and Policy (2018), 11th edition, Paul R. Krugman, Maurice Obstfeld, and Marc Melitz. Pearson.






Aulario on Campus Arrosadia, UPNA. Classroom TBA.