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Faculty of Social Sciences, Economics, and Business Administration

Prof. Mishael Milakovic, Chair of International Economics

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Studies

International Monetary Economics

Lecture

Lecturer: Prof. Mishael Milakovic, PhD

This course deals with the two most important traditional models of exchange rate determination and open economy macroeconomics, which start from different preanalytical visions and thus arrive at very distinct open economy policy prescriptions. We start from basic concepts of exchange rate determination, like purchasing power parity and (un)covered interest rate parity, and review the basic accounting principles underlying the balance of payments. Then we move on to standard Keynesian models and to a variety of monetarist approaches to the balance of payments.

Topics include the following:

i) fixed and floating exchange rate regimes in Mundell-Fleming-type models

ii) monetarist flex- and sticky-price approaches to the balance of payments

iii) exchange rate 'overshooting'

iv) portfolio balance approach to exchange rate determination

v) foreign exchange market efficiency and the 'risk premium'

 

This course is taught in English.

More information on this course can be found in Univis and here:

International Monetary Economics(12.6 KB, 2 pages)