Facoltà di Economia "G. Fuà" - Guida degli insegnamenti (Syllabus)
Knowledge of principles of macro and microeconomic and of basic mathematical/statistical tools. Nevertheless, at the beginning of the course, and during the course, we will make a brief summing up of economical and mathematical concepts needed to better understand the lessons and the textbook.
Lectures, exercises, and Formative coursework.
Knowledge and Understanding
Students will learn the main small and large open economy models to correctly understand and analyze movements and determinants in the balance of payments. They will understand the most relevant theories explaining nominal and real exchange rates movements in the medium and long run.
Students will also acquire the relevant tools for the analysis of trade and factor movements across nations, most recent models of firm internationalization, offshoring practices and migration.
Applying knowledge and understanding
Students will apply the economic analysis of this international economic course to analyze the time series behaviors of different Countries and Aggregates. Students will also apply the economic analysis of this international economic course to analyze and critically assess the ongoing globalization process.
Judgment, focus and communication skills
The use of formative coursework and mandatory reports, regarding individual learning and group analysis made in class and at home, will develop autonomous judgments and communication skills. An important part of the learning process will be made by critical reading and assessment of relevant literature and press.
Course Content
Module I (6 CFU - 44 ore)
Global Imbalances and Current Account Sustainability
A Theory of Current Account Determination.
Current Account Determination in a Production Economy with Uncertainty.
External Adjustment in Small and Large Open Economies.
International Capital Market Integration.
Determinants of the Real Exchange Rate.
Aggregate Demand Shocks And Real Exchange Rates
Exam (Written + oral) 70%. Duration of written part: 1 hour
Formative coursework 30%
Assessment criteria.
Students have to show a solid knowledge of applied and theoretical analysis related to international trades .
Grading scale
From 18 to 30. Cum laude can be attributed to outstanding performance
Grading method
The written examination is made of 3 parts: 1) Multiple choices questions (10 pt). 2) Open questions (16 pt). 3) 1 exercise (6 pt). Students discussing reports of formative coursework skip the exercise and 1 open question. A final result greater that 30 points attributes a cum laude to the student.
Stephanie Schmitt-Grohé, Martìn Uribe and Michael Woodford, International Macroeconomics. Lecture notes (2016).
Further course material will be distributed during the course.
Università Politecnica delle Marche
P.zza Roma 22, 60121 Ancona
Tel (+39) 071.220.1, Fax (+39) 071.220.2324
P.I. 00382520427