econs1530-1

econs1530-1 - Int e rnational Mon e tary E c onomi c s*E C...

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Unformatted text preview: Int e rnational Mon e tary E c onomi c s *E C ON S-1530 , Summ e r 2010 M W , 12-3:00pm Prof e ss or Ary e h Blumb e rg and L ec tur e r Dani e la Kolu s h e va T e a c hing A ss i s tant Manjola Ta s e R e quir e d S ec tion s : Th , 1 - 2:00 pm C OURSE DESCRIPTION This course covers the institutions, historical context, and other topics that are essential for understanding the current international monetary system. We focus on the evolving interactions, currently in flux, between multinational corporations and banks, central banks, the International Monetary Fund, and the World Bank. The interactions among these institutions define the different regimes that have characterized international monetary organization, from the pre-World War I gold standard, the post-World War II Bretton Woods system of fixed exchange rates, and the regime of more or less market- determined exchange rates that superseded it in the 1970s. Students study how foreign exchange markets interact with markets for goods and services and with capital markets. This is tested by examining the relation between spot and forward exchange rates, interest rates, and inflation rates. Balance of payments accounts and net asset positions of countries are analyzed, as well as the relative effectiveness of monetary and fiscal policy under fixed and floating regimes. We also consider other timely topics, such as the recent worldwide financial crisis, the microstructure of foreign exchange markets, and globalization. The conceptual framework and the analytical techniques required for insight into these issues require a strong emphasis on scientific method and empirical evidence. The course is useful preparation for graduate work in international economics and finance. Pr e r e qui s it e s : Pass proficiency examination. Econ. S-10ab or equivalent 2 O V ERVI E W O F C OURSE Eichengreen, B., Globalizing Capi t al: A Hi st ory o f t h e In t e rna t ional Mon e t ary Sy st e m 2 nd edition, Princeton University Press, 2008....
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econs1530-1 - Int e rnational Mon e tary E c onomi c s*E C...

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