OAGE 0025 - The Macroeconomics of Emerging Markets

The aim of the course is to provide students with a greater understanding of the macroeconomic dynamics of emerging-market economies. Upon successful completion of this course, students will be in measure of identifying the main features of emerging-markets economies, the cross-country diversities of development outcome, and to analyse emerging-market economies changing position in global markets. Students will demonstrate familiarity with the competing arguments on a variety of policy debates regarding growth strategies, macroeconomic stabilization policies and financial stability issues. The course covers aspects of economic development including institutions, governance and functioning of markets. It compares the development experiences of the countries in Asia, Latin America and Central and Eastern Europe and the different patterns of economic growth. The course will also discuss the impact on emerging markets of the Covid-19 pandemic and challenges related to climate change.

Learning Outcomes

1. Upon successful completion of this course, students will be in measure of identifying the main features of emerging-markets economies, the stages of development and the cross-country diversities both in terms of the economic dynamics and the underlying economic structure.

2. Students will demonstrate familiarity with the competing arguments on a variety of policy debates regarding growth strategies, policy tools, macroeconomic stabilization policies and financial stability issues.

3. Students will be able to analyze the emerging-market economies changing position in global markets and contemporary challenges, and to elaborate arguments related to economic policy.

Professional Skills

Students will acquire a variety of techniques used by professional economists to understand the macroeconomic environment in which developing countries operate, whether for country risk assessment, policy evaluation, making investment recommendations (strategists) or managing a portfolio of assets (asset management).

Supplementary readings: (optional)

- Raghuram Rajan (2019). “Rising Tide”. Finance and Development, IMF.

- Kaminsky G, Reinhart C, Végh, C. (2004). “When It Rains, It Pours: Procyclical Capital Flows and Macroeconomic Policies”. in NBER Macroeconomics Annual 2004, Volume 1

Edgardo TORIJA ZANE

Séminaire

English

- In Class Presence: 2 hours a week / 24 hours a semester

- Online learning activities: 1 hour a week / 12 hours a semester

- Reading and Preparation for Class: 6 hours a week / 72 hours a semester

- Research and Preparation for Group Work: 2 hours a week / 24 hours a semester

- Research and Writing for Individual Assessments: 1 hours a week / 12 hours a semester

None

Autumn 2023-2024

The grading results from one take-home exam as a mid-term test and a group take-home paper (maximum three students). Final grades will be determined as follows: Mid-term exam 50%; Final Exam 50%. Relevant participation may also improve the final grade.