87459 - INTERNATIONAL MONETARY ECONOMICS

Anno Accademico 2021/2022

  • Docente: Laura Bottazzi
  • Crediti formativi: 6
  • SSD: SECS-P/01
  • Lingua di insegnamento: Inglese

Conoscenze e abilità da conseguire

This course covers topics on currency, liquidity and debt crises as well as international financial contagion. Issues pertaining to monetary/financial, exchange rate, debt restructuring, in connection with the antecedents and aftermath of crises are studied at both the theoretical and empirical levels. At the end of the course students will be able to analyze and discuss the role of current account dynamics, international capital flows, financial integration, and world commodity price cycles as these relate to recurring economic booms and bust.

Contenuti

This course is  intended to use simple small open economy models  to answer many important macroeconomic questions that arise in emerging markets and developing economies, particularly those regarding monetary, fiscal, and exchange rate issues. We want to think in terms of simple models and grasp the fundamentals of open economy macroeconomics.

It is an advanced course that builds on the standard intertemporal small open economy model with frictions such as imperfect capital markets, intertemporal distortions, and non-tradable goods and applies these theoretical tools to a variety of important macroeconomic issues relevant to developing countries (and, in a world of continuing financial crisis, to industrial countries as well), including the relative merits of flexible and predetermined exchange rate regimes. We analyze in detail specific topics such as the “dollarization,” balance of payments crises, and, inspired by recent events, financial crises and the economic effect of the covid virus.

Testi/Bibliografia

Obstfeld M., K.Rogoff , Foundations of International Economics,1996 MIT Press

papers from international scientific journals

Metodi didattici

Frontal teaching.                                                                            Theoretical Models will be discussed and developed in class. Particular attention will be devoted to the understanding of model background and empirical implications as well as discussion on policy issues.

Modalità di verifica e valutazione dell'apprendimento

Final written examination (90% of the grade) and a referee report (10% of the grade). 

The written exam aims at testing the acquired knowledge of the theoretical concepts and the ability to interpret estimation results in the light of the underlying theory.

The written exam is closed book and lasts 1 hour and 15 minutes. It is divided in two parts:

  • True , False, Uncertain  (answer with concise motivation): 6 questions, 30 points
  • Open question (formal answer to theoretical question): 1 or 2 questions, 30 points.

In case online exams will be envisaged by the University of Bologna, the structure of the written exam is the same. The exam will be run through Zoom and Exams Online (EOL). Detailed instructions on how to manage and hand in the online exam are available on the course page on the VIRTUALE platform.

The maximum possible score is 30 cum laude, in case all anwers are correct, complete and formally rigorous.

The grade is graduated as follows:

<18 failed
18-23 sufficient
24-27 good
28-30 very good
30 e lode excellent

For students attending the  EPELM the grade acquired  will contribute to the final grade of the integrated course of Economia Internazionale.  

 

 

Strumenti a supporto della didattica

 Exercises will be assigned in class but will not be counted in the course evaluation

Orario di ricevimento

Consulta il sito web di Laura Bottazzi

SDGs

Sconfiggere la povertà Lavoro dignitoso e crescita economica

L'insegnamento contribuisce al perseguimento degli Obiettivi di Sviluppo Sostenibile dell'Agenda 2030 dell'ONU.