INTERNATIONAL FINANCE

経済学部 - 経済学科

EECS5024

コース情報

担当教員: SCHLEGL Matthias

単位数: 2

年度: 2024

学期: 春学期

曜限: 火3

形式: 対面授業

レベル: 200

アクティブラーニング: なし

他学部履修: 可

評価方法

授業内期末試験

授業期間中

50%

小テスト等

30%

その他

Grading consists of the following components: (1) 3 assignments on Moodle (30%): Problem sets about lecture notes, textbook readings or additional materials. (2) Mid-term presentation (20%): Group presentation about a current topic in international finance. (3) Final exam (50%): The exam will take place during the last lecture.

20%

詳細情報

概要

This course covers basic concepts and tools needed to understand the functioning of international financial markets and the global economy. We develop theoretical frameworks for the analysis of current account balances, international capital movements, real and nominal exchange rates and also examine the relationship between monetary policy, exchange rates and capital mobility. We apply these models to the analysis of current policy questions in international finance. The prerequisites for this course are an introductory course in microeconomics and more importantly one in macroeconomics (which covers at least the IS-LM model). This course will use some basic mathematical tools that are common in any modern economics course. All course materials will be distributed via the course page on Moodle. Assignments and additional readings will also be handled via Moodle. Please make sure that you subscribe to the course page on Moodle in order to participate in this course. Course registration and Moodle are not interlinked; and therefore, registration on Moodle must be done separately.

目標

1) Solid understanding of major concepts in international finance, including balance of payments accounting, exchange rates, purchasing power parity and interest rate parity. 2) Ability to work with economic models including intertemporal optimization, the Balassa-Samuelson model and the Mundell-Fleming model. 3) At the end of this course, students should be able to independently apply these concepts and models to the analysis of current issues in international financial markets and the global economy.

授業外の学習

Each week requires sufficient preparation and revision in self-study including textbook readings and additional readings that are assigned during lectures. Students are expected to do all required and assigned readings before the respective class to be able to contribute to class discussions. Regular attendance and active participation in class are highly recommended. Also, you should actively follow news about recent developments in economics and finance.

所要時間: It depends on your work efficiency.

スケジュール

Introduction and guidance
Balance of payments accounting (SUW, Chapters 1&2)
External debt and debt sustainability analysis (SUW, Chapters 1&2)
Intertemporal theory of the current account I (SUW, Chapter 3)
Intertemporal theory of the current account II (SUW, Chapter 3)
The real exchange rate and purchasing power parity (SUW, Chapter 9)
Violations of purchasing power parity (SUW, Chapter 10)
Mid-term presentations
International capital market integration (SUW, Chapter 11)
The macroeconomic trilemma
The goods market in the open economy (Blanchard, Chapter 18)
The Mundell-Fleming model (Blanchard, Chapter 19)
Exchange rate regimes (Blanchard, Chapter 20)
Final exam

教科書

There is no single textbook for this course. Lecture notes will be based on readings from the following textbooks (available at Kinokuniya).

International Macroeconomics: A Modern Approach

著者: Stephanie Schmitt-Grohé, Martin Uribe and Michael Woodford

出版社: Princeton University Press, 2022
Macroeconomics

著者: Olivier Blanchard

出版社: Pearson, Seventh Edition (Global Edition)

参考書

Additional readings will be assigned during lectures.