Università degli Studi di Napoli "Parthenope"

Teaching schedule

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Year of study: 
Second semester
Hours of front activity: 



Course description

On completion of this course, students should:
• Have improved their mastery of economic- and business-related concepts;
• Have performed graphical and quantitative treatment of the theories;
• Have made relevant connections between theory and real-world examples, through references to media material, readings or case studies;
• Find an increased interest to read economic and business-related materials in the media.


You are expected to be comfortable with basic Micro-/Macroeconomics, Economic Principles Introduction to Economic Analysis and Algebra.


Session 1–March 9
Topic: What Is International (Monetary) Economics About?
Reading: Ch1, Krugman
Session 2-March 10
Topic: National Income Accounting and the Balance of Payments
Reading: Ch2, Krugman
Session 3-March 16
Topic: National Income Accounting and the Balance of Payments
Reading: Ch2, Krugman
Session 4–March 17
Topic: Exchange Rates and the Foreign Exchange Market: An Asset Approach
Reading: Ch3, Krugman
Session 5–March 23
Topic: Money, Interest Rates, and Exchange Rates
Reading: Ch3, Krugman
Quiz N1 on Chs 1-3 of Krugman
Session 6–March 24
Topic: Price Levels and the Exchange Rate in the Long Run
Reading: Ch5, Krugman
Session 7-March 25
Topic: Output and the Exchange Rate in the Short Run
Reading: Ch6, Krugman
Session 8–March 30
Topic: Output and the Exchange Rate in the Short Run
Reading: Ch6, Krugman
Session 9–March 31
Topic: Fixed Exchange Rates and Foreign Exchange Intervention
Reading: Ch7, Krugman
Session 10–April 6
Topic: International Monetary Systems: An Historical Overview
Reading: Ch8, Krugman
Quiz N2 on Chs 5-7 of Krugman
Session 11–April 7
Buffer and Review Session
Session 12–April 20
MIDTERM EXAM based on Chs1; 13-19
Session 13–April 21
Topic: Financial Globalization: Opportunity and Crisis
Reading: Ch9, Krugman
Session 14–April 27
Topic: Developing Countries: Growth, Crisis, and Reform
Reading: Ch11, Krugman
Session 15–April 28
Topic: Optimum Currency Areas and the Euro
Reading: Ch10, Krugman
Session 16–May 4
Topic: The fragility of incomplete monetary unions
Reading: Ch5, De Grauwe
Session 17–May 5
Topic: The transition to a monetary union
Reading: Ch6, De Grauwe
Session 18–May 11
Topic: How to complete a monetary union
Reading: Ch7, De Grauwe
Quiz N3 on Chs 9-11 of Krugman and Chs5, 6 of De Grauwe
Session 19–May 12
Topic: Political economy od deconstruction the Eurozone
Reading: Ch8, De Grauwe
Session 20–May 18
Topic: The European Central Bank
Reading: Ch9, De Grauwe
Session 21–May 19
Topic: Monetary Policy in Eurozone
Reading: Ch10, De Grauwe
Session 22–May 20
Topic: Fiscal policies in the monetary unions
Reading: Ch11, De Grauwe
Session 23–May 25
Topic: The Euro and financial markets
Reading: Ch12, De Grauwe
Quiz N4 on Chs 7 -11 of De Grauwe
Session 24 – May 26, 2020
Buffer and Review Session
Final Exam – date TBC

This course presents International Monetary Economics theory and applies it towards gaining an understanding of recent events and current policy issues. The theory presented in this course covers a broad range of topics including exchange rate determination, monetary and fiscal policy in an open economy (that is, an economy that trades goods and assets with the rest of the world), balance of payments crises, the choice of exchange rate systems, and international debt. The insights provided by these theoretical frameworks will enable us to discuss topics such as the US current account deficit and global financial imbalances, the Chinese exchange rate regime, proposed changes in the international financial architecture, the single currency in Europe, the Asian and Argentine financial crises, global financial imbalances, and the role of international factors on a nations employment, wage and economic performance.

Teaching Methods

Corse will rely on an interactive conversation with class based on Notes, slides, articles and deliverables that will be posted on the course website. I strongly encourage you to check the announcements at least once a week to keep up-to-date about upcoming assignments, discussion topics and readings.


(1) "International Finance: Theory and Policy", Paul R. Krugman, Maurice Obstfeld, Marc Melitz, Global Edition, 2018
(2) "Economics of Monetary Union", Paul De Grauwe; 12 Edition, 2018
(3) Articles. An important component of the class will be discussions of current news items.

Learning assessment

Couse valuation will be based on 3 main components:
1)Exams. There will be two exams. The midterm is in class at the end of April (20/04-24/04). The final exam date will be announced late May/early June.
2)Quizzes. Couse will consider 4 quizzes (2 for the first half of the semester and 2 for the second part) that will take place in the first 10-15 minutes of class. The quizzes intend to encourage each student to do the assigned reading and review the previous course material before class.
3)Class participation. It’s important to integrate what you learn and be able to express it effectively. Your participation grade will be based on the quality (not quantity) of your contributions to class sessions.

More information

Instructor Details:
Name: Lilit Popoyan
Email Address: glilit.popoyan@uniparthenope.it
Office Hours: After class on Tuesday or by appointment/Skype
Office: 315, 3rd floor