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Summary Summary
This two day course is taught at Masters level and aims to introduce participants to the main economic perspectives on the balance of payments, the exchange rate and its underlying macroeconomic drivers. The course will start with a recapitulation of the structure of the balance of payments. It will then proceed to a review of traditional modelling approaches, before branching out to a more widely faceted approach covering exchange rate modelling, growth implications and international monetary policy.
Location Location
Various
Outline Outline
Day One
- The balance of payments, purchasing power parity and interest rate arbitrage.
- Keynesian models of the balance of payments: the Mundell Fleming Model
- The balance of payments in the long run: the monetary approach to the balance of payments.
- Exchange rate determination and overshooting
Day Two
- Asset based approaches to exchange rate determination.
- Export led growth and the balance of payments constraint
- Monetary policy, exchange rate policy and monetary union
- International monetary integration and international monetary institutions