Modern international macroeconomics is developed in two main ways. First, theories of mainstream micro and macroeconomics have been applied in an international setting. Second, theoretical and empirical methods have been applied by researchers into the classical issues of international economics focusing on international policy problems and crises. The course gives an introduction to the main tools and models as well as the main current research areas in International Macroeconomics.
This course extends macroeconomic theories to open economy and provides perspectives on major topics in international macroeconomics. It provides a review and analysis of current international macroeconomic and financial issues, policies and events, including current account, life cycle, tax policies, inflation, interest rates and exchange rates in the global economy; causes and consequences of trade deficits and external imbalances; developing and advanced market economies’ financial crises; causes of currency, banking and financial crises in emerging market and advanced economies.