留学生国际货币经济专业课程作业定制，International Monetary Economics[ID-4208M]
Course overview
2009-10
Dr. Mark Baimbridge
International Monetary Economics
•The Balance of Payments as a policy problem
–approaches to the balance of payments
•Traditional & IS-LM-EB
•Monetarist
•Structuralist
•Exchange rates & the international monetary system
–foreign exchange market:
•determination of the exchange rate
•choice of exchange rate regime
–international monetary system since 1870
–Economic and Monetary Union in Europe
The concept of the BOP
•System of BOP accounts
•UK BOP in retrospect
•Principles of the BOP
•Equilibrium & disequilibrium
•Measures of equilibrium & disequilibrium
Traditional policies & IS-LM-EB
•Traditional BOP policies:
–Expenditure changing policies
–Expenditure switching policies
–Direct policies
•Simultaneous achievement of IB & EB
–Allocation of fiscal and monetary policy
Monetarist approach
•Monetarist perspective:
–Classical gold standard model, modern monetarist model
•Monetarist adjustment mechanism:
–Cash balances mechanism, devaluation, simultaneous achievement of IS-LM-EB
•Monetarist policies
Structural approach
•Structural perspective
•Structuralist adjustment mechanism:
–Structural characteristics, constrained growth, income elasticity of demand for imports & exports
•Structuralist policies:
–Industrial investment, protectionist policies
Determination of the exchange rate
•Exchange rates defined
•Measures of the exchange rate
–Foreign exchange rate, effective exchange rate, real exchange rate
•Theories of exchange rate determination:
–Current account theory, purchasing power parity theory, monetarist approach, portfolio balance, technical analysis
Choice of exchange rate regime
•Choice of foreign exchange rate regime
•Fixed versus floating exchange rates:
–The case for greater flexibility
–The case against greater flexibility
–Managed floating
Gold Standard to Bretton Woods
•Classical gold standard (1870-1914)
–Results & evaluation of Gold Standard
•Modified gold standard (1925-1931)
•Free floating (1931-1939)
•Bretton Woods (1944-1971):
–Results & evaluation of Bretton Woods system
EMU in Europe: historical foundations
•Pre-history of monetary union in Europe
•Alternative types of monetary union
•Beginnings of monetary union in Europe
代写留学生作业•European monetary system & exchange rate mechanism
EMU in Europe: theory, policy & implications
•Theory of optimum currency areas
•Origins of EMU
•Maastricht Treaty & EMU
•Costs & benefits of EMU
•EMU & the world economy