International Finance
Course description:
The aim of the discipline is to help students to get comprehensive knowledge of the principles of the functioning of the global monetary system, as well as the principles of monetary policy, both in developed and developing countries. A significant part of the course is devoted to discussion of currency systems (the historical part of the course) and exchange rate regimes, their comparative studies. The course also discusses the most popular models of international finance, focusing on the assessment of the dynamics of the nominal and real exchange rates. The knowledge and skills can be used by students in further education, in writing a research paper or coursework, in preparing the thesis.
Instructor: Shulgin A.G, Novak A.E., Khvostova I.E.
Credit points: 3
Faculty: Faculty of Economics
Language: Russian
Level: Bachelor
Academic hours: 44
Syllabus
1. Introduction
2. Gold standard and the Bretton-Woods system
3. Classification of exchange rate regimes
4. The fixed exchange rate. Currency crises
5. Intermediate exchange rate regimes: a crawling peg
6. Purchasing power parity. Real exchange rate
7. Interest rate parities in international finance
8. Financial markets in the open economy
Readings
1. Copeland L. Exchange Rates and International Finance. Prentice Hall; 5th edition, May 8, 2008
2. Corden W. Max, Too sensational: on the choice of exchange rate regimes, MIT Press, Cambridge, 2002.
3. Hallwood C.P. and MacDonald R., International Money and Finance, 3rd ed., Blackwell Publishers Inc., 2000.