International Money
General Information
| Lecturer: | Dr. Omar Feraboli |
| Lecture: | Wednesday, 5.15 - 6.45 p.m., in 2/SR6 |
| First Lecture: | 13th April 2011 |
| Courses of Studies: |
Master Economics, Exchange Students (Undergraduates and Postgraduates) |
| Number of Credits: | 5 ECTS |
Course Information
News
|
Due to the cancellation of today's lecture "International Money", the next session will last for two course units (5.15 - 8.30 p.m.). Furthermore, an additional session will be offered on July 15, 2011 from 10.00 a.m. to 1.00 p.m. in room TW 7 / 310 in which the rest of the course material will be covered and revised and where students can ask questions about the exam.
|
|
Please note that Dr. Feraboli's lecture "International Money" will not be held on July 6, 2011 due to illness.
|
Description
|
The use of money made possible the development of the modern economy, both as national and as international level. In other words, money solves the basic problem of a barter economy, i.e. the double coincidence of wants. What are the problems that make the introduction of a common means of payment and unit of account at the international level difficult, and more difficult than at the national level? Basic knowledge of economic theory is prerequisite for understanding the lecture. In order to obtain the course credits a compulsory 60 minute, written exam can be taken at the end of the term. In addition, an optional homework maybe turned in. The lecture will be held in English. |
Main Topics
- Fundamentals of Money
- National and International Currencies
- History of Fixed Exchange Rate Systems
- Theories of Fixed Exchange Rates
- Speculative Attacks on Fixed Exchange Rates and their Collapse
- Exchange Rate Variability and Models of Floating Exchange Rate Determination
Literature
Lecture notes will be provided during the course and will be available on this website.Further readings (useful but not compulsory):
- Krugman and Obstfeld, International Economics.
- Obstfeld and Rogoff, Foundations of International Macroeconomics.
- Paul De Grauwe, International Money.
- Paul De Grauwe, The Economics of Monetary Integration.
Lecture Notes
- 01: Introduction
- 02: Fixed Exchange Rates Experience
- 03: The Interest Parity Theory
- 04: Collapse Of Fixed Exchange Rate Systems I
- 05: Collapse Of Fixed Exchange Rate Systems II
-
06: The Barro-Gordon Model
- Supplement: Time Derivatives of the Barro-Gordon Model
- 07: The Salant-Henderson Model
- 08: First vs. Second-Generation Models
- 09: Target Zone Models
- 10: Models of Exchange Rate Variability I: Disequilibrium Models
- 11: Models of Exchange Rate Variability II: Equilibrium Models
