Syllabus
Title
1369 Wahlfach: Grundkurs - Außenwirtschaft: Monetäre Außenwirtschaft
Instructors
ao.Univ.Prof. Dr. Alfred Sitz
Type
PI
Weekly hours
2
Language of instruction
Englisch
Registration
02/04/11 to 03/04/11
Registration via LPIS
Registration via LPIS
Notes to the course
Subject(s) Diploma Programs
Dates
| Day | Date | Time | Room |
|---|---|---|---|
| Tuesday | 03/22/11 | 04:00 PM - 06:00 PM | H 2.18 (A) |
| Tuesday | 03/29/11 | 04:30 PM - 06:00 PM | Freizeitzentrum |
| Tuesday | 04/05/11 | 04:00 PM - 06:00 PM | H 2.18 (A) |
| Tuesday | 05/03/11 | 04:00 PM - 06:00 PM | SR 5.48 (D) |
| Tuesday | 05/10/11 | 04:00 PM - 08:00 PM | H 2.18 (A) |
| Tuesday | 05/17/11 | 04:30 PM - 06:00 PM | Freizeitzentrum |
| Tuesday | 05/24/11 | 04:30 PM - 06:00 PM | Freizeitzentrum |
| Tuesday | 05/31/11 | 04:30 PM - 06:00 PM | Freizeitzentrum |
| Tuesday | 06/07/11 | 04:00 PM - 06:00 PM | H 2.18 (A) |
| Tuesday | 06/21/11 | 04:00 PM - 06:00 PM | H 2.18 (A) |
| Tuesday | 06/28/11 | 04:00 PM - 06:00 PM | H 2.18 (A) |
Exchange rates, balance of payments; elasticity approach; inome effects of foreign trade,
monetary and fiscal policy in case of fixed or flexible exchange rates, economic policy in a monetary union, monetary model, Dornbusch model, asset market approach; world exchange rate system, exchange rate strategies, EMU
exchange rate strategies of particular countries
After Completing this course of INTERNATIONAL MONETARY ECONOMICS students understand
- the conditions for improving the trade balance by devaluation
- the Mundell-Fleming model: the impact of different exchange rate regimes on the effects of monetary and fiscal policy as well as of foreign shocks in a small economy.
- the impact of such "shocks" on a small economy in a monetary union
- the Monetary and the Dornbusch model
- the institutional setting of the European Monetary Union, its economic instruments and possible effects.
- the implications of (different) exchange rate strategies
- Presentation and discussion of lecture topics by the lecturer
as well as
- short students' presentations on countries' exchange rate strategies
- students answer questions ("homework") related to the presented topics, answers will be discussed in class
- At least 50% of maximum available points at mid-term test
- quality of the presentation concerning country's exchange rate strategy
- Results of homework
Tuesday 10:00 to 11:00 UZA 4; Room D 308 A
Tel-ext: 5094
email: alfred.sitz@wu.ac.at
| Unit | Date | Contents |
|---|---|---|
| 1 | 22.3.2011 | Introduction to lecture and students' presentations. ---------Lecture: - Exchange rates, balance of payments. |
| 2 | 29.3. | - Elasticity approach - Income effects of exports |
| 3 | 6.4. | - Effects of monetary and fiscal policy in case of fixed or flexible exchange rates I |
| 4 | 3.5. | - S: discussion of hom Economic policy in a small country of a currency union ework |
| 5 | 10.5. | - Dornbusch's overshooting model - Asset market ap The monetary modelproach |
| 6 | 17.5. | - Development of world's exchange rate "system" - Countries' exchange rate strategies S: discussion of homework |
| 7 | 24.5. | - European Monetary Union (I): Institution, goal(s), and instruments - EMU(I): advantages and drawbacks |
| 8 | 31.5. | Summary of lecture S: discussion of homework |
| 9 | 7.6. | S: Test |
| 10 | 14.6. | The global financial crisis: Causes, consequencies, and reactions |
| 11 | 21.6. | S: presentations of counties' exchange rate regimes (I) |
| 12 | 28.6. | S: presentations of countries' exchange rate regimes (II) |
Last edited: 2011-01-15
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