After completing the course International Financial Policy the student is able to:
- Analyze and interpret mechanisms (for example exchange rate determination) on the basis of theories.
- Critically assess (monetary, fiscal, exchange rate) policies both in real world context and in theoretical models.
- Justify policy choices on the basis of empirical developments as well as theories presented during lectures
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The credit crisis and the European sovereign debt crisis are recent illustrations of the close connection between international financial markets, governments, central banks and international financial institutions such as the International Monetary Fund and the World Bank. This course addresses theoretical and empirical developments in the context of the evolution of the post -World War II international monetary system. Policy implications are discussed. Topics dealt with can include
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The Global Economy environment including international financial organisations
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Central Bank independence and communication
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International Policy Coordination: tax, fiscal and monetary policy
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International Capital Markets
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Exchange rate volatility: empirics and theory
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The long term perspective on exchange rate determination
- Monetary and Fiscal Policy in an International Context
- Central Banking and Quantitative Easing
Students have the possibility to do a complicated (bonus) assignment in the beginning of the course. Later on, students have to write a policy paper to assess (the current and future) Policies an important Central bank (ECB, FED OR the Bank of England); this counts for 20% of the Final Grade- Finally they have to do an exam; this counts for 80% of the Final Grade.
PREREQUISITES
Course in International Economics
TEST INFORMATION
Exam 80%
Policy Paper 20%
(BONUS ASSIGNMENT: NOT RERQUIRED)
TEST INFORMATION
Written Exam exist of Open Questions and may also include MC Questions
DURATION OF THE VALIDITY OF PARTIAL RESULTS
Results of the previous year (Policy Paper, Bonus assignment) remain valid
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International Economics, Macroeconomics.
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Written exam and assignment(s). When a student does not complete the course, partial grades remain valid. |
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Weblectures: we have decided to use weblectures in a restricted way. Weblectuers will be made available one week before the exam.
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