International Finance

Term: Spring 2010

Subject Code: GECO

Course Number: 6253

This course is devoted to studying international monetary economics and finance theoretically and empirically. We begin with a historical overview of the gold standard, the Bretton Woods system, and current international monetary regimes and currency systems. We then examine theoretically and empirically the balance of trade and balance of payment accounts and their adjustments. Exchange rate systems and exchange rate determination and adjustments are also studied, with particular attention to empirical studies on exchange rate dynamics and their impact on macroeconomics. Special emphasis is given to the study of international monetary and financial arrangements, the financial sector, and financial instability and monetary and fiscal policy issues. Topics include issues of exchange rate volatility and its impact on the real and financial sector, foreign debt, capital flows, currency runs, and international portfolio choice; World Bank and IMF policies and issues concerning financial marker liberalization; international financial regulations; and international financial architecture.

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