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67431-01 - Vorlesung: International Money and Finance 6 KP

Semester Frühjahrsemester 2024
Angebotsmuster Jedes Frühjahrsem.
Dozierende Andreas Müller (andi.mueller@unibas.ch, BeurteilerIn)
Inhalt The course builds on the macroeconomics and quantitative methods taught in the first and second year of the Bachelor program. It focuses on international macroeconomics and finance, which we discuss both at an intuitive and technically advanced level (for instance, by solving a simple dynamic decision problem of households and firms in a two-period economy).

First, we study and document empirically the global imbalances in the trade balance and current account across countries. Second, we develop a simple two-period model of an open economy that we will use throughout the course. Third, we will use our basic theoretical framework, with the appropriate variations, to address all of the central topics in the field, including the determinants of the current account in open economies; processes of adjustment to temporary, permanent, and unanticipated shocks; the determinants of the real exchange rate; the role of capital controls in the presence of financial frictions; the role of fixed and flexible exchange rates in model with nominal rigidities; and the interaction between monetary and fiscal policy.

Throughout the course, the predictions of the theoretical models are confronted with data. These tests are used to highlight the power of a particular theory in providing insight into a particular real-world problem, but also to mark its limits and to motivate critical thinking.
Lernziele The aim of the course is to familiarize students with the tools of international macroeconomics and finance and to apply these tools in macro-policy issues using the same basic analytical approach as is employed in the research literature.

Upon successful completion of the course students will have acquired an appreciation of the role of international currency markets in the determination of economic outcomes. Specifically, they will be familiar with a theoretical framework through which they can interpret movements in the exchange rate and its relationship to other key macroeconomic variables.

Students will also be familiar with the effects of monetary and fiscal policy in an international setting. They will be able to critically assess the appropriateness of a particular policy in response to important events within the international monetary system.
Literatur Main textbook:

• Schmitt-Grohe, S., M. Uribe and M. Woodford (2022): International Macroeconomics, Princeton University Press.

Additional Reading:

• Krugman, P., M. Obstfeld and M. Melitz (2022): International Economics: Theory and Policy, Global Edition, Twelfth edition, Pearson.

• Obstfeld, M. and K. Rogoff (1996): Foundations of International Macroeconomics, MIT Press.
Bemerkungen The course consists of one 2-hour lecture (Mondays) and one 2-hour tutorial (Tuesdays) every week---with the following exceptions:

• First week of teaching:
Mon, 26 Feb 2024: no lecture (Student Welcome);
Tue, 27 Feb 2024: lecture instead of tutorial.


• Easter:
Mon, 01 Apr 2024: no lecture;
Tue, 02 Apr 2024: lecture instead of tutorial.


• Pentecost:
Mon, 20 May 2024: no lecture;
Tue, 21 May 2024: lecture instead of tutorial.

 

Teilnahmebedingungen No special requirements.
Anmeldung zur Lehrveranstaltung Registration: Please enroll in the Online Services (services.unibas.ch);

Eucor-Students and mobility students of other Swiss Universities or the FHNW first have to register at the University of Basel BEFORE the start of the course and receive their login data by post (e-mail address of the University of Basel). Processing time up to a week! Detailed information can be found here: https://www.unibas.ch/de/Studium/Mobilitaet.html
After successful registration you can enroll for the course in the Online Services (services.unibas.ch).

Applies to everyone: Enrolment = Registration for the course and the exam!
Unterrichtssprache Englisch
Einsatz digitaler Medien kein spezifischer Einsatz

 

Intervall Wochentag Zeit Raum
wöchentlich Montag 08.30-10.00 Biozentrum, Hörsaal U1.141
wöchentlich Dienstag 16.15-18.00 Kollegienhaus, Hörsaal 118

Einzeltermine

Datum Zeit Raum
Dienstag 27.02.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Montag 04.03.2024 08.30-10.00 Uhr Biozentrum, Hörsaal U1.141
Dienstag 05.03.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Montag 11.03.2024 08.30-10.00 Uhr Biozentrum, Hörsaal U1.141
Dienstag 12.03.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Montag 18.03.2024 08.30-10.00 Uhr Biozentrum, Hörsaal U1.141
Dienstag 19.03.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Montag 25.03.2024 08.30-10.00 Uhr Biozentrum, Hörsaal U1.141
Dienstag 26.03.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Montag 01.04.2024 08.30-10.00 Uhr Ostern
Dienstag 02.04.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Montag 08.04.2024 08.30-10.00 Uhr Biozentrum, Hörsaal U1.141
Dienstag 09.04.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Montag 15.04.2024 08.30-10.00 Uhr Biozentrum, Hörsaal U1.141
Dienstag 16.04.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Montag 22.04.2024 08.30-10.00 Uhr Biozentrum, Hörsaal U1.141
Dienstag 23.04.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Montag 29.04.2024 08.30-10.00 Uhr Biozentrum, Hörsaal U1.141
Dienstag 30.04.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Montag 06.05.2024 08.30-10.00 Uhr Biozentrum, Hörsaal U1.141
Dienstag 07.05.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Montag 13.05.2024 08.30-10.00 Uhr Biozentrum, Hörsaal U1.141
Dienstag 14.05.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Montag 20.05.2024 08.30-10.00 Uhr Pfingstmontag
Dienstag 21.05.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Montag 27.05.2024 08.30-10.00 Uhr Biozentrum, Hörsaal U1.141
Dienstag 28.05.2024 16.15-18.00 Uhr Kollegienhaus, Hörsaal 118
Module Modul Economics (ECON) II (Bachelorstudium: Wirtschaftswissenschaften (Studienbeginn vor 01.08.2021))
Modul: Aufbau Economics (Bachelorstudium: Wirtschaftswissenschaften)
Modul: Wahlbereich in Wirtschaftswissenschaften (Bachelor Studienfach: Wirtschaftswissenschaften)
Wahlbereich Bachelor Wirtschaftswissenschaften: Empfehlungen (Bachelor Studienfach: Wirtschaftswissenschaften (Studienbeginn vor 01.08.2021))
Leistungsüberprüfung Leistungsnachweis
Hinweise zur Leistungsüberprüfung Written exam: 24.06.24; 10:15-11:45. WWZ S15: A-L; WWZ S13: M-Z.
You can find the addresses of the examination rooms here: https://wwz.unibas.ch/de/studium/pruefungen/vorlesungs-und-pruefungsraeume/

You can still withdraw from the examination by submitting a completed, signed form to our office from march 26 until april 5 / 12:00 o’clock. The deregistration form and the mail address can be found on the homepage of the Dean of Studies Office: https://wwz.unibas.ch/en/studies/examinations/de-/registration-of-examinations/
Prior to march 25, please deregister only in the Online Services.
An-/Abmeldung zur Leistungsüberprüfung Anm.: Belegen Lehrveranstaltung; Abm.: stornieren
Wiederholungsprüfung keine Wiederholungsprüfung
Skala 1-6 0,1
Wiederholtes Belegen beliebig wiederholbar
Zuständige Fakultät Wirtschaftswissenschaftliche Fakultät / WWZ, studiendekanat-wwz@unibas.ch
Anbietende Organisationseinheit Wirtschaftswissenschaftliche Fakultät / WWZ

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