IER 401 – International Economics

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IER 401 – International Economics; Weekly hours: 2+1, ECTS: 6
The objective of this course is to provide: i) an analytical training in the critical use of theories of international trade and finance; and ii) an opportunity for students to develop critical understanding of the current policy debate on international trade, foreign direct investment and multinational corporations, regional integration and globalization, management of open developing economies with large external shocks, dynamics of currency and financial crises, management of exchange rates and capital accounts, international monetary and financial architecture, and other global economic issues. Throughout the course, emphasis is placed on understanding theories as well as on testing and evaluating these theoretical propositions in the light of empirical evidence and real world issues. The course follows these topics: Introduction, Tariffs as Instruments of Trade Policy, Other Instruments of Trade Policy, National Income Accounts, Balance of Payments, Exchange Rate System, Money Market and Exchange Rates, Exchange Rates and Inflation, Exchange Rates and Output, Exchange Rates vs. Monetary and Fiscal Policy, International Monetary System, Macroeconomic Policy under Floating Exchange Rates, Optimum Currency Areas, Capital Markets.