ECN320 International Macroeconomics

Knowledge and general competence:

The student is expected to develop:

* An appreciation of the complex relationships between macroeconomic indicators and the foreign exchange markets, and the interrelationships among asset/money, goods, and foreign exchange markets;

* An understanding of the implications of a government's macroeconomic policy (fiscal and monetary) under different exchange rate regimes and under different capital mobility scenarios, and the economic implications of the policy choices from each;

* The ability to relate theoretical concepts to real-world macroeconomic situations and the implications from events such as monetary union in the eurozone, the global financial crisis, the Covid-19 pandemic and to assess macroeconomic policy response to those situations.

Students will be able to consult the economics literature to further their understanding of the concepts and to have a critical understanding of macroeconomic theory and its limitations.

Students should be able to use and apply economic reasoning and models to analyze the consequences of macroeconomic imbalances (trade and capital flows) that result from changes in key macroeconomic indicators (aggregate demand, aggregate supply, interest rates, exchange rates, inflation, etc.) and macroeconomic policy (fiscal policy and monetary policy).

Skills:

The course will reinforce group learning through assigned tasks that address contemporary problems and interpreting results from graphical analysis.