International Economics
International Economics
Modulleitung
Studiengänge
Masterstudiengang Innovative Finance (MSc IF 24)
(01.09.2024)
Integration and globalization of the modern world require a deep understanding of international financial markets. The course equips students with both analytical and practical skills to comprehend macroeconomic and financial trends in open economies. By combining theory, real-world case studies, and practical tools, we empower students to make informed international financial decisions and effectively manage risks in the competitive global landscape.
Key topics covered in this course include:
Key topics covered in this course include:
- National Income Accounting and the Balance of Payments
- Exchange Rates and the Foreign Exchange Market
- Money, Interest Rates, and Exchange Rates
- Price Levels and the Exchange Rate in the Long Run
- Output and the Exchange Rate in the Short Run
- International Monetary Systems
- Financial Globalization: Opportunity and Crisis
- Theories of Optimum Currency Areas
- Crisis and Growth in Developing Countries
Lehrmethode
- The course consists in a face-to-face lecture, and a series of discussions/group work based for the exercises.
- The students are expected to work in group to solve a case study in International Finance.
Lernergebnisse
After successful completion of the course, students will
Professional competence
Methodological competence
Social competence
Professional competence
- know key features of the international monetary and financial architecture, including the developments in the balance of payments and the exchange rate systems.
- understand the functioning and the structure of foreign exchange markets for spot and forward currency transactions.
- apply theories to solve real-life case studies in international finance including arbitrage and
- hedge strategies, and international portfolio diversification.
- analyse the drivers of FX rates, and how they can be used to explain and anticipate some of the variations in FX markets.
- criticize and assess these theories with a focus on their empirical limitations.
Methodological competence
- know and understand of international market finance.
- research autonomously and methodically the information needed to solve a complex real-life economic problem.
- perform a rigorous analysis of the problem at hand and to provide economically sound solutions.
Social competence
- organize and lead in teamwork tasks.
- handle criticism and demonstrate the ability to criticise in a constructive manner. Personal competence
- think critically. • communicate on a high level in written and oral channels.
Literatur
- Students are provided with the lecture slides and supplementary material (e.g., selected journal articles).
- Krugman, P. R., Obstfeld, M., & Melitz, M. J. (2022). International Finance Theory and Policy, 12th Edition, Global Edition. Pearson Education Limited.