Course code ECN331

ECN331 International Economics and Finance

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Showing course contents for the educational year 2015 - 2016 .

Course responsible: Roberto Javier Garcia
ECTS credits: 5
Faculty: School of Economics and Business
Teaching language: EN
(NO=norsk, EN=Engelsk)
Limits of class size:
-
Teaching exam periods:
This course starts in August block. This course has teaching/evaluation in August block.
Course frequency: Annually
First time: Study year 2003-2004
Preferential right:
-
Course contents:
Macroeconomic analysis and international trade. - Balance of payments. - Balance of trade. - Capital account. - Reserves. Exchange rates. - Law of one price, terms of trade, and purchasing power parity. - Forecasting, speculation, hedging and arbitrage: equilibrium exchange. - Modelling currency markets. Money markets and interest rate determination. - Money demand and money supply. - Interest parity and exchange rates. - Capital markets. Fiscal policy, goods market equilbrium. Monetary policy and asset market equilibrium. Alternative exchange regimes and central bank operation. Capital controls. Monetary union.
Learning outcome:
The course is designed to complete the students"s understanding of the basic economics of trade through a formal treatment of the international macroeconomy and its relation to foreign exchange, foreign exchange regimes, capital movements, exchange rates and macroeconomic policy. Specifically, the student is expected to develop: 1) an understanding the relation of the microeconomics of international trade with the macroeconomics of international transactions (2) an appreciation for the complex relationships between macroeconomic indicators and the foreign exchange marekts, and the interrelationships among assets, goods, and foreign exchange markets and (3) an understanding of the implications of a government"s (and central bank"s) macroeconomic policy/objectives under fixed, flexible and managed foreign exchange regimes and the economic implications of the policy choices from each.
Learning activities:
Lectures, problem sets.
Teaching support:
-
Syllabus:
Appleyard and Field (A+F), International Economics, McGraw-Hill , 4th edition, 2006 Houck, Elements of Agricultural Trade Policies, Macmillan Publishing Co., 1986 (chapter 15) Web-based readings
Prerequisites:
ECN230.
Recommended prerequisites:
Mandatory activity:
3-4 exercises.
Assessment:
Written examination, 3.5 hours, counts 100 %.
Nominal workload:
150 hours.
Entrance requirements:
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)
Reduction of credits:
-
Type of course:
21 lecture hours and exercise sessions there are seven 3-hour sessions. There is flexibility to slow down or increase the pace of meetings. Can either meet in morning sessions (09.15-12.00), afternoon sessions (14.15-17.00) or both.
Note:
Course description, lecture plan, detailed course outline and course materials (web-based readings, homework assignments and handouts) are available on the web at the following site: http://athene.umb.no/emner/ECN331 The course is taught as three related topic areas: (1) Macroeconomic mechanisms supporting international trade flows (2) Money market, goods market and asset market equilibrium (3) Alternative exchange regimes, optimal currency area and monetary union.
Examiner:
External examiner will control the quality of syllabus, questions for the final examination, and principles for the assessment of the examination answers.
Allowed examination aids: No calculator, no other aids
Examination details: One written exam: A - E / Ikke bestått