344syll - Economics/Political Science 344 R. McIntyre...

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Economics/Political Science 344 International Financial Economics R. McIntyre Summer 2008 mcintyre@uri.edu Office Hrs: 9-10 daily or by appointment 401-874-4126 Roger Williams 206 This course is about the history of, theories about and politics in the international financial system. In the first half we survey the succession of different international systems from the late 19 th century classical gold standard to the current arrangement. The second part is concerned with major issues in the current system, including the politics of exchange rates, currency unions, and the shifting role of developing countries. Prerequisite : Economics 100 or 202 and interest in international political and economic affairs. Requirements : 1. Participation in class discussions (20%). This presupposes that you attend class regularly and do the readings in full and on time. You may miss one class and part of another without penalty. After that you lose two points for each class you miss. 2. Four homework assignments. Late homeworks will be marked down one full grade for each day they are late (20%). Homework questions will be distributed in the class before they are due. 3. Two exams, in class, made up of term identifications and an essay (30% each) Texts : Barry Eichengreen, Globalizing Capital , Princeton University Press, 1998 Eric Helleiner, States and the Reemergence of Global Finance , Cornell University Press, 1994 You should purchase these two paperbacks immediately. Other required readings are available online or by e-reserve. Reading a good daily newspaper such as The New York Times ( www.nytimes.com ) or The Financial Times ( www.ft.com ) is suggested. May 19 Introduction to the Course May 20 Introduction to the International Monetary System and Capital Markets S. Cross, All about the Foreign Exchange Market in the United States , Federal Reserve Bank of New York, Chs. 2, 3, 11 www.newyorkfed.org/education/addpub/usfxm/ Eichengreen, Globalizing Capital , ch.1, pp.3-6 1. What is foreign exchange? What is an exchange rate? Explain various measures of the “value of the dollar.” 2. Describe the basic structure and functioning of the foreign exchange market.
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3. Summarize the most important models of exchange rate determination and their success in explaining and predicting currency values. 4. What is the central theme of Eichengreen’s Globalizing Capital? What roles do network externalities and path dependence play in his argument? May 21 The Classical Gold Standard Eichengreen, Globalizing Capital , ch.2 1. What forces led to the formation of the classical gold standard? How did the gold standard work? 2. How did international coordination work under the gold standard and how did coordination differ between the center and the periphery? May 22
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This note was uploaded on 01/22/2010 for the course ECO 1101 taught by Professor Sparr during the Fall '05 term at St.Francis College.

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344syll - Economics/Political Science 344 R. McIntyre...

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