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

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 wöchentlich
Datum 21.02.2023 – 30.05.2023
Zeit Montag, 08.30-10.00 Biozentrum, Hörsaal U1.131
Dienstag, 16.15-18.00 Alte Universität, Hörsaal -101

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.
An-/Abmeldung zur Leistungsüberprüfung An-/Abmelden: Belegen resp. Stornieren der Belegung via MOnA
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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