International Monetary Economics

Summer Term 2024

Lecture | 3+1 hrs | 8 ECTS | Master | G. Nghiêm | ZEuS | ILIAS |

Organization

Lecture
Monday, 10:00 - 11:30, C358 (fortnightly)
Tuesday, 10:00 - 11:30, D201

Tutorial
Monday, 10:00 - 11:30, C358 (fortnightly)

The ILIAS course provides the following E-learning material:

  • Lecture notes
  • Problem sets

Registration

To get access to the course material in ILIAS, please sign up for the course in ZEuS. Please note that you cannot self-enrol in the ILIAS course.

In case of problems, please contact office.scholl@uni-konstanz.de using your university mail account.

About this Course

Typical questions in international monetary economics are:  What determines the current account?  Why are exchange rates so volatile?  How can we evaluate monetary and fiscal policy in an open economy context? How can currency crises be explained?
The objective of this course is to address questions like these by developing traditional and modern macroeconomic models of open economies. In addition, empirical evidence and case studies are used to illustrate the concepts and theories.

Outline

  1. Introduction
  2. The Intertemporal Approach to the Current Account
  3. Uncovered Interest Parity and Purchasing Power Parity
  4. The Monetary Model of Exchange Rates
  5. The Dornbusch Overshooting Model
  6. New Open Economy Macroeconomics
  7. Exchange Rate Regimes and Financial Crises

Assessment

Students are required to pass a final examination.

Readings

The main textbooks for this course are:

  • Maurice Obstfeld and Kenneth Rogoff, Foundations of International Macroeconomics (MIT Press, 1996)
  • Philipp Harms, International Macroeconomics (2nd edition, Mohr Siebeck, 2016)

Additional journal articles will be announced in the lecture.