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International Economics (1st and 2nd module)
Antonio Palestrini

Seat Fac. Economia - Sede di Ancona
A.A. A.A. 2015-2016
Credits 9
Hours 66
Period 1^ semestre
Language ENG

Prerequisites

Knowledge of principles of macroeconomic 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.

Development of the course

Lectures, exercises, and Formative coursework.

Learning outcomes

Knowledge and Understanding
Students will learn the main small and large open economy models to correctly understand and analyze  movements in the balance of payments, nominal and real exchange rates.
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.
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                 

 

Program

Module I
Global Imbalances.
Current Account Sustainability.
A Theory of Current Account Determination.
Current Account Determination in a Production Economy
Uncertainty and the Current Account.
External Adjustment in Small and Large Economies.
Twin Deficits: Fiscal Deficits and Current Account Imbalances.

Module II
International Capital Market Integration.
Determinants of the Real Exchange Rate.
Aggregate Demand Shocks And Real Exchange Rates
Exchange Rate Policy and Unemployment

Development of the examination

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.

 

Recommended reading

Stephanie Schmitt-Grohé and Martìn Uribe, International Macroeconomics. Lecture notes 2015 Chapters 1-11.


 

Courses

• L.M. - International Economics and Commerce curriculum Business Organization and Strategy