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Vorlesungsverzeichnis >> Fakultät Sozial- und Wirtschaftswissenschaften >>
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V/Ü: International Macroeconomics I- Dozent/in
- Prof. Mishael Milakovic, Ph.D.
- Angaben
- Vorlesung
2 SWS
Zeit und Ort: Do 12:00 - 14:00, F21/02.41
- Inhalt
- This course deals with the two most important traditional models of exchange rate determination
and open economy macroeconomics, which start from different pre-analytical visions
and thus arrive at very distinct open economy policy prescriptions. We start from basic concepts
of exchange rate determination, like purchasing power parity and (un)covered interest
rate parity, and review the basic accounting principles underlying the balance of payments.
Then we move on to standard Keynesian models and to a variety of monetarist approaches to
the balance of payments. Topics include the following:
- Fixed and floating exchange rate regimes in Mundell-Fleming-type models
- Monetarist flex- and sticky-price approaches to the balance of payments
- Exchange rate 'overshooting'
- Portfolio balance approach to exchange rate determination
- Foreign exchange market efficiency and the 'risk premium'
The main purpose of the course is to make students aware of the different strands of eco-nomic
thought in international macroeconomics, and to emphasize how they arrive at very different
policy prescriptions regarding balance of payments equilibrium, and monetary and fiscal policy
issues in general as witnessed, for instance, in the current debate on the feasibility of a monetary
union in the European Union. In particular, students should be able to understand why various
pressure groups favor certain models or are strictly opposed to others, and where the various
models meet their empirical limitations. Lectures are in English.
- Empfohlene Literatur
- K. PILBEAM, International Finance, Palgrave Macmillan, current edition.
L. COPELAND, Exchange Rates and International Finance, Pearson, current edition
- Zusätzliche Informationen
- Erwartete Teilnehmerzahl: 40
- Institution: Lehrstuhl für Volkswirtschaftslehre, insbes. Internationale Wirtschaft
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