Macroeconomic analysis and international trade (betalingsbalansen) - Balance of payments - Balance of trade - Capital account - Reserves Exchange rates (valutamarkeder) - 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 (pengermarkeder) - Money demand and money supply - Interest parity and exchange rates - Capital markets Fiscal policy, goods market equilbrium Monetary policy and asset market equilibrium (internasjonal pengermarkeder) Alternative exchange regimes and central bank operation (Makroøkonomisk politikk valutaregimer) Capital controls (kapitalkontroll) Monetary union

Studentene skal tilegne seg en forståelse av økonomisk politikk i åpne økonomier og av virkemåten til internasjonale pengemarkeder. The course is designed to complete the students"s understanding of the basic economics of trade through a formal treatment of the international macro economy 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.

Forelesninger og øvingsoppgaver.

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Appleyard og Field (A+F), International Economics, McGraw-Hill , 4th edition, 2006. Houck, Elements of Agricultural Trade Policies, Macmillan Publishing Co., 1986 (Kap. 15). Studiemateriale på nettet.

ECN230.

3-4 øvingsoppgaver.

Skriftlig eksamen, 3,5 timer, teller 100 %.

Ekstern sensor kvalitetssikrer pensum, eksamensoppgaver og prinsipper for evaluering og besvarelser.

Emnebeskrivelse, forelesningsplan, kursplan og kursmateriale er tilgjengelig på nettet på: http://athene.umb.no/emner/ECN331

150 timer.

GSK

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21 forelesnings, og øvingstimer. Mellom 3-6 timer per dag fra 09.15 - 12.00 og/eller 14.15-17.00