EMPA


EMPA U6018y International Finance and Monetary Policy 3 pts. Open to EMPA Students Only Prerequisites: SIPA U6401 Examines international finance and the institutions and principles governing the functioning of the international monetary system. Among the topics discussed are the structure, operation, and stability of foreign exchange markets, the causes and consequences of international accounts disequilibria, the mechanisms of balance-of-payments adjustment, the merits of different exchange rate regimes, financial crises, the effects of international capital mobility on trade, growth, and employment, and the problem of international policy coordination. SIPA: EMPA.

Term

Course
Number

Call# /
Section

Days & Times /
Location

Instructor

Spring
2014

EMPA
6018

26246
001

Sa 9:00a - 10:50a
405 INTERNATIONAL AFFAIRS BLDG

T. Goodspeed

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International Affairs


INAF U6018x and y International Finance & Monetary Theory 3 pts. Prerequisites: SIPA U6401 This is a "methods" course meant to provide students with the analytic tools necessary to think through "real life" international economic policy situations. The class is primarily meant for those interested in working at international financial institutions, the foreign-service, Wall Street, or the financial press. Lectures will, in part, be fairly rigorous though, if the student has taken first year economics, knows basic algebra, and (most importantly) can navigate graphs, he/she will be able to handle the material fairly easily. While theory will at times dominate, its policy relevance will be illustrated through i) l0-minute discussions at the beginning of every class on topical issues; ii) continuous references to recent economic/market episodes meant to illustrate the theoretical material; iii) reading short pieces of Wall Street research that cover timely market topics; and iv) the term paper that will be graded on how well theory and policy are integrated. In terms of topics, the first half of the semester will develop an analytic framework that thinks though the concept of the "exchange rate" in terms of its (short and long term) determinants as well as the interaction between the exchange rate and macro variables such as growth, inflation, and monetary policy. The second half of the semester we will investigate individual themes including exchange rate regimes; BoP crises and contagion; global imbalances and the savings glut; the role of FX in "inflation targeting" regimes; and capital markets and emerging markets finance. SIPA: APEA. SIPA: EPD. SIPA: IFEP- Finance. SIPA: IFEP- Economic Policy.

Term

Course
Number

Call# /
Section

Days & Times /
Location

Instructor

Spring
2014

INAF
6018

18496
001

Tu 11:00a - 12:50p
410 INTERNATIONAL AFFAIRS BLDG

R. Clarida

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Spring
2014

INAF
6018

20941
R01

Th 4:10p - 6:00p
405 INTERNATIONAL AFFAIRS BLDG

Instructor To Be Announced

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