Università degli Studi di Napoli "Parthenope"

Teaching schedule

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Second semester
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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.


Session1: What Is International (Monetary) Economics About?,National Income Accounting and the Balance of Payments; Ch.1,2 Krugman et al.; Session2: Exchange Rates and the Foreign Exchange Market: An Asset Approach Reading; Ch3, Krugman et al; Session3:Money, Interest Rates, and Exchange Rates Ch4, Krugman et al.; Session4: Price Levels and the Exchange Rate in the Long Run; Ch5, Krugman et al.; Session5: Exchange Rate in the Short Run Discussion; Session6:Output and the Exchange Rate in the Short Run, Ch6, Krugman et al + Q1; Session 7&8: Output and the Exchange Rate in the Short Run, Ch6, Krugman et al.; Session 9&10: Fixed Exchange Rates and Foreign Exchange Intervention, Ch7, Krugman et al; Session 11: Review Session+Q2; MIDTERM VERIFICATION;
Session 12&13: International Monetary Systems: An Historical Overview, Ch8, Krugman et al.; Session14: Optimum Currency Areas and the Euro, Ch10, Krugman et al.; Session15: Cost of joining the monetary union, Ch1, De Grauwe+; Session16:The Benefits of a Common Currency, Ch3, De Grauwe+; Session17: Costs and Benefits Compared, Ch4, De Grauwe+; Session18: How to complete a monetary union, Ch7, De Grauwe + Q3; Session 19&20:The European Central Bank, Ch9, De Grauwe+; Session 21&22:Monetary Policy in Eurozone and Independence of Central Banks., Ch10, De Grauwe+; Session 23:The instruments of monetary policy in the Eurozone, Ch10, De Grauwe; Session24:Fiscal policies in the monetary unions, Ch11, De Grauwe; Session25:The Euro and financial markets; Ch12, De Grauwe; Session26: Review Session +Q4; FINAL VERIFICATION.

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, 11th 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

Course valuation will be based on 4 main components:
1)Verifications. There will be two verification exams. The midterm is in class at the end of April (20/04-24/04). The final's 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.
4) Oral exam at the end of the semester or consecutive dates!

More information

Instructor Details:
Name: Lilit Popoyan
Email Address: lilit.popoyan@uniparthenope.it
Office Hours: After class or by appointmen
Office: 315, 3rd floor