Some information•E-mail: [email protected]•Course webpage:http://wpage.unina.it/savsimon/teaching/International-macro/international-macro.htm•Textbook: Maurice Obstfeld and Kenneth Rogoff, Foundations of International Macroeconomics(MIT Press, 1996)•Office hours: Monday 13-15 (stanza 4 ex presidenza)•Schedule of Classes (12 May – 3 June):–Monday 15:15 – 16:45– Tuesday 9:00 – 10:30 and 11:00 – 12:30
Topics of the courseThe building blocks of open-economy1.intertemporal trade and the current account balance2.dynamics of small open economies 3.real exchange rate and the terms of trade4.uncertainty and international financial markets 5.money and exchange rates under flexible prices: the Cagan Model
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First Lesson:Dynamics of Small Open Economies•A small two period endowment economy•A small two period production economy•A two-region world economy: the Metzler diagram•A stochastic current account model•Firms, labor market and investment (perfect foreseight)