International Monetary Economics

Dozent/in:

Mishael Milakovic

Angaben:

Vorlesung, 2 SWS, ECTS: 6

Termine:

Do, 12:00 - 14:00, F21/02.55

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'

Empfohlene Literatur:

K. PILBEAM, International Finance, Palgrave Macmillan, current edition.
L. COPELAND, Exchange Rates and International Finance, Pearson, current edition.

The Economics of Inequality

Dozentinnen/Dozenten:

Mishael Milakovic, Christian Babirat

Angaben:

Seminar/Übung, 2 SWS

Termine:

Do, 14:00 - 16:00, F21/02.55
Einzeltermin am 30.6.2016, 16:00 - 18:00, RZ/00.05
ab 21.4.2016

Voraussetzungen / Organisatorisches:

Anmeldung: https://vc.uni-bamberg.de/moodle/course/view.php?id=17249
Informationen zur Themenvergabe werden in der ersten Veranstaltung (21. April 2016) bekannt gegeben.

Inhalt:

For about the last four decades, the economics profession was largely of the opinion that economic inequality is not a problem of particular interest and, if anything, represents a necessary condition for economic efficiency. Piketty s book on Capital in the 21st Century and its wide reception in and outside of academia, however, testify to the revived interest in this topic, particularly with respect to the inequalities in personal income or wealth, both across and within countries.
The three main goals of the course are thus to familiarize students
(i) with the major strands of economic theory that address the inequalities in the distribution of income or wealth,
(ii) with different concepts of measuring inequality, and
(iii) with international empirical data of such measurements. Irrespective of whether a reduction in inequality is politically desired or not, students should understand the fundamental challenges that policy design will necessarily face, especially in light of the considerable historical fluctuations in inequality.

Empfohlene Literatur:

A detailed syllabus will be distributed in class. Leading up to the course, interested students should browse (and ideally read) the seminal works by James Meade (Efficiency, Equality, and the Ownership of Property, first published in 1964, but also available as a Routledge 2013 reprint) and by Angus Maddison (The World Economy: A Millenial Perspective, freely available online in pdf format). Thomas Piketty s book Capital in the 21st Century, first published in English in 2014, is also a useful starting point