International Macroeconomics

This subject provides an introduction to open economy macroeconomics and international finance. Topics will include balance of payments, the determination of exchange rates, the effects of monetary and fiscal policies under fixed and floating exchange rate regimes, global capital markets, balance of payments crises, and financial globalization and the challenges facing developing economies.

• 1Develop an intellectual framework to study international economic phenomena;
• 2Apply open economy models to understand contemporary economic developments;
• 3Utilise open economy models to provide policy advice; and
• 4Demonstrate critical evaluation of competing theories and models using data and empirical methods.