The course examines contemporary challenges in international finance and macroeconomics, encompassing a spectrum of topics such as financial globalization, exchange rates, capital flows, and international financial crises. It also explores the resurgence of industrial policies, placing a primary focus on inquiries rooted in policymaking.
Specifically, the course engages in the analysis of macroeconomic policy issues including the post-COVID landscape, global imbalances, financial and sovereign debt crises, as well as the intricacies of monetary and fiscal policy within an open economy framework. Additionally, it delves into the evolving landscape of globalization, the emergence of the new "Washington consensus," and the implications of industrial policies.
The course also seeks to provide students with a comprehensive understanding of exchange rate dynamics and the diverse policy responses available to policymakers, with a special emphasis on their application in low and middle-income countries.
LEARNING OUTCOMES
The course aims to equip students with both empirical and theoretical tools to analyse ongoing international policy discussions. The primary resources cited in the bibliography will include articles published in journals or working paper series such as CEPR, NBER, central banks, and IMF working papers.
Basic knowledge of macroeconomics (monetary and fiscal policy, national accounting, growth…) is assumed to be known by students. No previous course in international macroeconomics and finance is required, and this course is not aimed at those students who already had an advanced course in this field.
For additional reference, the textbook "International Finance: Theory and Policy" by Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz (12th edition, available at the library) will be recommended to review essential concepts.
The course is not very technical but will use some basic mathematics and graphical tools. It will refer to but will not require technical knowledge of econometrics.
Florian MORVILLIER,Thomas GRJEBINE
Cours magistral seul
English
Students are expected to have a good understanding of the standard tools in macroeconomics as well as basic techniques in econometrics. A prerequisite is a course in macroeconomics and a course in statistics/econometrics.
Spring 2024-2025
The grading breakdown is as follows: 35% for the mid-term written exam, 50% for the final exam, and 15% participation.
Final exam: 2 hours in extra class. The examination will comprise various questions that require written responses, including short-course questions and brief essays.