INTERNATIONAL MONETARY ECONOMICS
Students will interpret the dynamics prevailing in the international money and capital markets, identifying the underlying causes of the observed phenomena. In particular, they will have the ability to critically analyze the functioning of a monetary union, starting from the European Monetary Union.
Students must have a basic knowledge of macroeconomics.
Covered topics include: Balance of payments and national accounts; monetary policy in an open economy; the currency market. Models of determination of exchange rates: basic concepts and theoretical models. Macroeconomics in Economics Open. The costs and benefits of a monetary union. The functioning of a monetary union
The course is organized into 3-frontal lectures per week. Frontal lessons serve to explain the most complex theoretical steps and to provide examples from reality that can help in understanding the economic events studied.
E. Colombo- M. Lossani, Economia Monetaria Internazionale, Carocci u.e. (capp. 1 – 11)
P. De Grauwe, Economia dell’Unione Monetaria, Il Mulino u.e. (cap. 1 – 11)
English speaking students may refer to:
P. Krugman – M. Obstfeld – M. Melitz, International Finance: Theory and Policy, Pearson 10/e
P. De Grauwe, Economics of Monetary Union, OUP 10/e
The exam consists in a compulsory written test in which students are asked to answer three open questions and an optional oral examination. The written exam lasts 45 minutes and the text of the questions usually consists of the title of the paragraphs of the textbooks. During the course, some exam simulations may be held, which may also contribute to the final vote.
During the course, some mock-exams may be taken.