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Unformatted text preview: SPRING 2010 ECONOMICS 336, section 01 (01:220:336:01) INTERNATIONAL BALANCE OF PAYMENTS INSTRUCTORS: Andres Fernandez firstname.lastname@example.org Adam Gulan email@example.com TIME AND LOCATION: Mondays and Thursdays ( 9:50am-11:10am ) Murray Hall , room 208 , College Avenue Campus. The last class will be Monday May 3. OFFICE HOURS: Andres Fernandez: NJ Hall, room 406, Thursdays 2:40PM-3:30PM or by appointment. Adam Gulan : NJ Hall, room 404, Thursdays, 11:30AM-1:00PM or by appointment PREREQUISITES: Econometrics (220:322), Intermediate Macroeconomics (220:321). Important Note 1 : This is an upper level elective. Important Note 2 : Although Intermediate Microeconomics (220:320) is not an official prerequisite for this course, well make heavy use of the mathematical methods introduced in that course. Particularly we expect students to be familiar with the calculus of constrained optimization methods (Lagrangians) and the theory of the consumer choice. DESCRIPTION AND LEARNING GOALS: The course is aimed to be an introduction to the main topics in international macroeconomics and the formal theories developed to understand them, while giving students a broad approach to modern open economy macroeconomics. It will be divided into three blocks. First, we will define and analyze what current accounts are, and what determines their level and their dynamics in time. The second block introduces students to the theory and evidence on nominal and real exchange rates both from a short- and long-run perspective. The third block will introduce some of the main macroeconomic policy issues and debates in open economies such as the choice of exchange rate regime and the causes and consequences of balance of payments crises, as well as the basic theories that have been developed to address them. TEXTBOOKS: Feenstra Robert, Taylor Alan, International Macroeconomics, 1 st Edition , Worth. Publishers, 2008 (available for purchase at www.dealoz.com or at the Rutgers Bookstore). Note: please download the errata for the book, available in the resources section of SAKAI. Students should also purchase the study guide of this book. Schmitt-Grohe Stephanie, Uribe Martin, Lecture Notes. Spring 2010, available for downloading at www.columbia.edu/~mu2166/UIM/notes.pdf Obstfeld Maurice, Rogoff Kenneth , Foundations of International Macroeconomics, MIT Press, 1996 (the chapters we will cover will be available on the course website (SAKAI) or in the LIBRARY resources) COURSE OUTLINE: I. INTERTEMPORAL OPEN ECONOMY MACROECONOMICS 1 I. 1. Balance of Payments accounting and International Imbalances (4 classes, Gulan) * Schmitt-Grohe and Uribe & Chapter 1, sections 1.1, 1.2, 1.3, 1.6 * Feenstra and Taylor 2 & Chapter 5 & Chapter 11, section 11.3 1 The lectures marked with * are mandatory....
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This note was uploaded on 04/19/2010 for the course ECON 336 taught by Professor Hassan during the Spring '08 term at Rutgers.
- Spring '08