INTERNATIONAL ECONOMICS

INTERNATIONAL ECONOMICS

Gianfranco Di Vaio, Fabrizio Pagani

Instructional goals

The course aims at giving students a better understanding of international macroeconomics and the world economy

Intended learning outcomes

Making judgements: Through both theoretical and practice front lessons but also with in-class presentations, and working group projects, this course will allow the students to enhance their ability to make judgements and to develop critical thinking on complex topics in the field of international macroeconomics, which span from the functioning of the FX and financial markets to monetary and fiscal policy decisions and the functioning of open and interconnected economies worldwide. Communications Skills: This course will allow students to enhance their communications skills in the field of international macroeconomics, by communicating, in the most effective and appropriate way, their ideas, proposals, analyses and critical reasoning on complex topics which rule countries, policy makers and financial markets worldwide. Learning skills: This course will contribute to empower learners giving them the tools to understand, among other things, the functioning of open and interconnected economies worldwide, the functioning of the FX and financial markets, the decisions taken by monetary and fiscal policy makers both in ordinary times and in times of crisis, which all have a direct impact on citizens, enterprises and investors.

Course Contents

The course focuses on topics in open economy macroeconomics, with analysis of theoretical models, presentation of empirical data and discussion on practitioners’ view of selected issues: globalization of the world economy, global financial crisis, sovereign debt crisis and Covid-19 crisis, global imbalances, European financial system, etc.

Reference Books

Class presentations and materials included in the textbook – Feenstra R.C. and Taylor A., International Macroeconomics (last Ed.)

Teaching Methods

Class presentations and seminars

Assessment Method

Written exam

Thesis assignment criteria

Professor's approval

Does the syllabus cover sustainability topics?

Yes

Week 1 Contenuto sessioni on line e on campus

Introduction to the Topic: The Global Macroeconomy and The FX Market: Arbitrage and Interest Rates

Week 2 Contenuto sessioni on line e on campus

The PPP Theory

Week 3 Contenuto sessioni on line e on campus

The Financial Crisis I and The Monetary Approach in the Long Run

Week 4 Contenuto sessioni on line e on campus

The Financial Crisis II

Week 5 Contenuto sessioni on line e on campus

Exchange Rates and Interest Rates in the Short Run: The Asset Approach and the Trilemma

Week 6 Contenuto sessioni on line e on campus

G20 and other governance fora

Week 7 Contenuto sessioni on line e on campus

The sovereign debt crisis and the Covid-19 crisis

Week 8 Contenuto sessioni on line e on campus

Finance for Growth and the Capital Market Union and National and International Accounts: The BoP

Week 9 Contenuto sessioni on line e on campus

The Long-Run Budget Constraint

Week 10 Contenuto sessioni on line e on campus

Financial Globalization: Consumption Smoothing and Efficient Investment

Week 11 Contenuto sessioni on line e on campus

European banks and European financial system

Week 12 Contenuto sessioni on line e on campus

FDI and FDI policies and World trade