International Economics
Spring 2006 (Friday 15:00-16:30)
Instructor: Prof. Kenichi
Ohno http://www.grips.ac.jp/teacher/oono/hp
This course studies the
macroeconomic and financial aspects of international economics. We hope to understand
basic open macro ideas like exchange rates, current account, external debt,
financial integration, currency crises, etc. which are necessary to conduct
macro and financial policies in developing and transitional economies. It
covers history, theory and practice.
Text lectures are posted in the above web. All lectures are available at any time. The lecture for the coming week is featured on the main webpage. These materials should be studied as the main textbook. For traditional models and issues up to the 1980s, the optional textbook (especially for those with a relatively weak background) is F.L. Rivera-Batiz & L.A. Rivera-Batiz, International Finance and Open Economy Macroeconomics, 2nd ed, Prentice Hall, 1994 (available in the library). For recent issues since the 1990s, we will use data handouts and additional reading assignments provided later in class. No serious math is required, but solid background in macroeconomics is needed. Students should read relevant materials before coming to class.
Grading will be based on a closed-book final exam. It will cover all lecture notes, classroom lectures, handouts, and assigned papers. Past exams, model answers and grading results are always posted in the web. Besides the lectures listed below, there will be a few sessions on special topics by Ph.D. students.
|
No. |
Topic |
Lecture |
|
|
1 |
History of intfl monetary systems 1: Overview |
1 |
2,21 |
|
2 |
History of IMS2: Classical Gold Standard & Bretton Woods |
2 |
21,22 |
|
3 |
History of IMS3: general float & European Monetary Union |
3 |
-- |
|
4 |
Interest parities and purchasing power parity |
4,5 |
4,5,6 |
|
5 |
FDI strategy under global & regional integration |
6 |
-- |
|
6 |
Current-account models and saving-investment balance |
7 |
11 |
|
7 |
Mundell-Fleming
model, Dutch disease, devaluation |
8,9 |
13,14 |
|
8 |
Debt crisis of the 1980s |
10 |
12 |
|
9 |
Currency crises of the 1990s |
11,15 |
[A] |
|
10 |
Currency crisis models and crisis early warning system |
12 |
[B] |
|
11 |
Monitoring competitiveness and use of currency baskets |
13 |
[C] |
|
12 |
Exchange rate policy options under financial integration |
14 |
[D] |
|
13 |
Special topic (to be announced) |
|
|
|
|
Final exam (July 21 2006) |
All |
All |
Note:
gLectureh indicates lecture number in the web. g