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    International Finance

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    nawtamson

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    International Finance

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    nawtamson
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    16 views3 pages

    International Finance

    Uploaded by

    nawtamson

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    © All Rights Reserved
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    of 3

    International Finance

    Fall semester, 2018

    Fan, Xiaoyan
    Assistant Professor, Department of Economics
    E-mail: [email protected]
    Course website: ???

    Syllabus

    1 Basic Information:

    • Category: Elective course of 3 credits for EMA and exchange students applying for
    master degree.

    • Prerequisite(s): Macroeconomics and statistics. Econometrics and software experience


    (such as Stata, R, etc.) are preferred but not required.

    • Time: ???(Monday and Thursday, 10:00-11:40); Room: ???, SOE Building

    • TA: ???

    2 Course Introduciton:

    This course focus on the theory and practice of international finance, introducing the
    concepts and theories of exchange rates and balance of payments, followed by macroeconomic
    policies in an open economy.
    We are going to cover the most important issues of international economy in the last
    20 years. Why China could export so much and accumulate huge foreign reserves? Why
    was the global economy are seriously unbalanced before the 2008 crisis, with China and
    Germany in one side, while America and the southern European countries on the other side?

    1
    Was the Euro turmoil just the aftershock of the American crisis, or a doomed disaster of the
    defective Euro system? And as to the future, what is the reform direction of the international
    monetary system, what is a better framework of global financial governance, and what is the
    trend of our global economy?
    To address the above questions, we will equip you with the following tools: (1) basic
    concepts of the international finance, such as the exchange rates, the balance of payments, the
    main types of financial crisis, etc. (2) mainstream theory and analysis frameworks, including
    the workhorse models of small-open economy, policy games between countries, and causes of
    financial crisis. (3) useful empirical analysis skills, arranging from data collection, statistical
    description, to econometric analysis.
    I hope you are interested in these topics and like to put efforts into reading, analysis
    and discussion, which will bring with you not only clearer visions of the past, but also deeper
    insights for the future.

    3 Course Materials:

    This course is based on two textbooks, and some additional readings.

    • Required:
    R.C. Feenstra and A.M. Taylor: International Macroeconomics(3th ed.), New York:
    McGraw-Hill, 2014

    • Supplement:
    P.R. Krugman, M. Obstfeld, and Marc Melitz: International Finance: Theory and
    Policy(11th ed.), Pearson, 2017

    • Additional:

    – C.M. Reinhart and K. Rogoff: This Time is Different: Eight Centuries of Financial
    Folly, Princeton University Press, 2009
    – D. Rodrik: The globalization paradox: why global markets, states, and democracy
    can’t coexist, Oxford University Press, 2011
    – A. Turner: Between debt and the devil: Money, credit, and fixing global finance,
    Princeton University Press, 2017

    4 Grading Policy:

    The grading will include four parts:

    2
    • (20%) 3-4 times of classroom exercises, such as the calculation of exchange rates and
    statistical analysis of data;

    • (20%) 2-3 times of homework, including empirical analysis, simple model deduction,
    and short-paper writing;

    • (30%) 4-5 times of group discussion and report. You should organize a group of no
    more than four classmates, choose a specific problem related to the given topic, make
    discussion in class or give a presentation next time within 30 minutes.

    • (30%) 1 course paper about five pages, on the topic selected by yourself.

    It should be noted that attendance is expected and will be taken each class. You are
    allowed to miss 1 class during the semester without penalty. Any further absences will result
    in point and/or grade deductions.

    5 Tentative Outlines:

    The weekly coverage might adjust with the progress of the class.

    Week Content Excercise Homework Discussion


    √
    1 Introduction
    √
    2 Basics of Exchange Rate(EX)
    √
    3 Theories of EX
    √
    4 Exchange rate crisis
    √
    5 The Balance of Payments(BOP)
    √
    6 Theories of BOP
    √
    7 Global imbalance and crisis
    √
    8 International monetary system and reform
    √
    9 Financial network and banking crisis
    √
    10 Sovereign debt crisis
    √
    11 Euro crisis and reform
    √
    12 International cooperation and governance
    13 Course review with Q&A

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