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Instructors: Prof. Dr. Bodo Herzog
Event type:
Seminar
Org-unit: Corporate Management & Economics
Displayed in timetable as:
Int. Monet. Econ.
Hours per week:
3
Credits:
6,0
Note: In your exam regulations, differing credits may have been specified.
Location:
Campus der Zeppelin Universität
Language of instruction:
Englisch
Min. | Max. participants:
10 | 24
Priority scheme: Standard-Priorisierung
Course content:
The course International Monetary Economics studies macroeconomic and financial aspects. It touches on all areas in macroeconomics and finance, especially monetary economics and monetary policy. We foucs on central banking, economic growth, exchanges rates, and the Economic and Monetary Union (EMU).
The course draws heavily on theoretical and empirical research to help guide managerial decisions.
This course offers you viable insights in the methods of theoretical economics and the design of economic policy issues. This course is taught from an academic point of view and it integrates current policy discussions.
Educational objective:
By the end of this course, you should have:
• An understanding of monetary and fiscal policy issues;
• An understanding of the differences of mentary and fiscal policy within the EMU;
• An understanding of the growth theory and growth models;
• An understanding of how the ECB operates and what its goals are;
• An understanding of supply and demand in the money market + interest rates;
• An understanding of macro supply and demand in goods markets + investments;
• An appreciation of the functioning of exchange rates;
• An understanding about the interconnections in a macro-economy;
• An understanding of the the European debt crisis;
• A profound knowledge about the working of macroeconomic models;
Main Competencies: Students will engage in critical thinking and analyse issues with a global mindset.
Further information about the exams:
One hour final exam.
Admitted Aids:
No.
Mandatory literature:
Basic Literature (essential):
[1] Abel, A.B., B.S. Bernanke, D. Croushore, Macroeconomics, 8th edition, Person, 2014.
[2] Blanchard, O., Macroeconomics, 3rd ed., 2003, ISBN: 0130671002.
[3] Blanchard, O., D.R. Johnson, Macroeconomics, 6th edition, Pearson print.
[4] German Council of Economic Experts, Annual Reports.
Advanced Literature:
[1] Obstfeld, M. and K. Rogoff, Foundation of International Macroeconomics, 1996, ISBN 0262150476, MIT Press.
[2] Romer, D., Advanced Macroeconomics, ISBN: 0072318554,
[3] Mas-Colell, A.; Whinston, M.; Green, J. (1995), Microeconomic Theory, Oxford University Press, Oxford.
New and General Topics in Macroeconomics:
[1] Allan H. Meltzer (2012), Why Capitalism?, Oxford University Press.
[2] De Grauwe, P.(2012), Lecture on Behavioral Macroeconomics, Princeton University Press.
[3] Mishkin, F.S. (2009), Economics of Money, Banking and Financial Markets, Business School Edition.
[4] Shiller, R. (2012), Finance and the Good Society, Princeton University Press.
[5] Piketty, T. (2013), Capital in the 21th Century, MIT Press, Boston.
[6] Geithner, T. (2014), Stress Test: Reflections on Financial Crises, Deckle Edge.
[7] Akerlof, G., Blanchard, O., Romer, D., Stiglitz, J. (2014). What Have We Learned? – Macroeconomic Policy after the Crisis. MIT Press, Cambridge, US.
[8] Roth, A.E. (2015). Who Gets What – and Why: The New Economics of Matchmaking and Market Design. Houghton Mifflin Harcourt Publishing.
[9] G. Calvo (2016). Macroeconomics in Times of Liquidity Crises, MIT Press, Cambridge, US.
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Yes.
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