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Instructors: Univ.-Prof. Dr. Philipp Harms
Event type:
Lecture
Displayed in timetable as:
Exchange Rates
Hours per week:
2
Language of instruction:
Englisch
Min. | Max. participants:
- | -
Requirements / organisational issues:
Audience:
- Wirtschaftswissenschaften Bachelor/Beifach:
Spezialisierungsstudium, Schwerpunkt „International Economics“
- Erasmus-Students (B.Sc.)
Prerequisites:
Students should have attended classes in intermediate micro- and macroeconomics. Moreover, a fair command of the English language is required for attending this course.
Times and places:
Tuesday, 8.30 – 10.00 a.m., Room P 2 (00 141), Philosphicum (starting on April 16)
Tutorial A: Friday, 8.30-10.00 a.m., Room P 2 (00 141), Philosphicum (fortnightly, starting on May 3rd)
Tutorial B: Friday, 8.30-10.00 a.m., Room P 2 (00 141), Philosphicum (fortnightly, starting on May 10th)
Start of course: April 16, 2019.
Note:
There will be a concentration of lectures in the first part of the semester and a concentration of tutorials in the second part. A detailed schedule will be provided at the beginning of the semester.
Contents:
Course description and objectives:
After reviewing the building blocks of open economy macroeconomics (purchasing power parity, interest parity conditions etc.), the basic rules of balance-of-payments accounting, and the structure of the international financial system, the course introduces students to the canonical models of current account and exchange rate determination. Special emphasis will be put on the role of international capital mobility in expanding the set of investment possibilities and in limiting the scope of national economic policy. The tutorial will review the theoretical concepts presented in the lecture and encourage students to confront these concepts with real-world data.
Having attended this course, students
- will know the fundamental sources of exchange rate fluctuations as well as the key determinants of international investments;
- will be familiar with the analytical tools used to explain movements in exchange rates and international capital flows;
- will be able to assess the benefits and risks associated with international trade and investments;
- will be able to assess the implications of macroeconomic policies in open economies (e.g. the consequences of different exchange rate regimes, the effects of capital controls)
Recommended reading list:
Literature (preliminary):
Harms, Philipp (2008): Internationale Makroökonomik, Mohr Siebeck.
Copeland, Laurence (2005): Exchange Rates and International Finance, 4th edition, Prentice Hall.
Feenstra, R. and M. Taylor (2008): International Economics, Worth Publishers.
Krugman, Paul R. and Maurice Obstfeld (2012): International Economics – Theory and Policy, 9th edition, Addison Wesley.
Obstfeld, Maurice and Kenneth Rogoff (1996): Foundations of International Macroeconomics, MIT Press.
Stock, J. and M. Watson (2007): Introduction to Econometrics, 2nd edition, Pearson Education.
Van Marrewijk, Charles (2007): International Economics, Oxford University Press.
A detailed list of references will be distributed at the start of the course.
Additional information:
Reading List and Teaching Materials
… will be available through ilias (https://ilias.uni-mainz.de). The password will be announced in the first lectures.
http://www.international.economics.uni-mainz.de/103_ENG_HTML.php
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