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| Semester | Frühjahrsemester 2023 |
| 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 fixed and flexible exchange rates in model with nominal rigidities; interaction between monetary and fiscal policy; the role of capital controls in the presence of financial frictions; and balance of payment crisis. 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, 20 Feb 2023: no lecture (Student Welcome); Tue, 21 Feb 2023: lecture instead of tutorial. • Fasnacht: Mon, 27 Feb 2023: no lecture; Tue, 28 Feb 2023: no tutorial. • Easter: Mon, 10 Apr 2023: no lecture; Tue, 11 Apr 2023: lecture instead of tutorial. • Labor Day: Mon, 1 May 2023: no lecture; Tue, 2 May 2023: lecture instead of tutorial. • Pentecost: Mon, 29 May 2023: no lecture; Tue, 30 May 2023: Review session instead of tutorial. |
| Teilnahmebedingungen | No special requirements. |
| Anmeldung zur Lehrveranstaltung | Registration: Please enrol in MOnA. EUCOR-Students and students of other Swiss Universities have to enrol at the students administration office (studseksupport1@unibas.ch) within the official enrolment period. Enrolment = Registration for the exam! |
| Unterrichtssprache | Englisch |
| Einsatz digitaler Medien | kein spezifischer Einsatz |
| Intervall | Wochentag | Zeit | Raum |
|---|---|---|---|
| wöchentlich | Montag | 08.30-10.00 | Biozentrum, Hörsaal U1.131 |
| wöchentlich | Dienstag | 16.15-18.00 | Alte Universität, Hörsaal -101 |
| Bemerkungen | Lecture: mondays, Tutorials:Tuesdays |
| Datum | Zeit | Raum |
|---|---|---|
| Dienstag 21.02.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| Montag 27.02.2023 | 08.30-10.00 Uhr | Fasnachstferien |
| Dienstag 28.02.2023 | 16.15-18.00 Uhr | Fasnachstferien |
| Montag 06.03.2023 | 08.30-10.00 Uhr | Biozentrum, Hörsaal U1.131 |
| Dienstag 07.03.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| Montag 13.03.2023 | 08.30-10.00 Uhr | Biozentrum, Hörsaal U1.131 |
| Dienstag 14.03.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| Montag 20.03.2023 | 08.30-10.00 Uhr | Biozentrum, Hörsaal U1.131 |
| Dienstag 21.03.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| Montag 27.03.2023 | 08.30-10.00 Uhr | Biozentrum, Hörsaal U1.131 |
| Dienstag 28.03.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| Montag 03.04.2023 | 08.30-10.00 Uhr | Biozentrum, Hörsaal U1.131 |
| Dienstag 04.04.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| Montag 10.04.2023 | 08.30-10.00 Uhr | Ostern |
| Dienstag 11.04.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| Montag 17.04.2023 | 08.30-10.00 Uhr | Biozentrum, Hörsaal U1.131 |
| Dienstag 18.04.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| Montag 24.04.2023 | 08.30-10.00 Uhr | Biozentrum, Hörsaal U1.131 |
| Dienstag 25.04.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| Montag 01.05.2023 | 08.30-10.00 Uhr | Tag der Arbeit |
| Dienstag 02.05.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| Montag 08.05.2023 | 08.30-10.00 Uhr | Biozentrum, Hörsaal U1.131 |
| Dienstag 09.05.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| Montag 15.05.2023 | 08.30-10.00 Uhr | Biozentrum, Hörsaal U1.131 |
| Dienstag 16.05.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| Montag 22.05.2023 | 08.30-10.00 Uhr | Biozentrum, Hörsaal U1.131 |
| Dienstag 23.05.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| Montag 29.05.2023 | 08.30-10.00 Uhr | Pfingstmontag |
| Dienstag 30.05.2023 | 16.15-18.00 Uhr | Alte Universität, Hörsaal -101 |
| 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: 14.06.23; 14:15-15:45. WWS S13: A-N; WWZ Audi: O-Z. The addresses of the examination rooms can be found 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 21.03.23 until 31.03.23 / 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 20.03.23, please deregister only in the Online Services. The examination rooms will be published by 26.5.23. |
| 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 |