Econ 4420/5420 Open Economy Macroeconomics

University of North Texas Department of Economics

Syllabus

Announcement

Important Dates

Course Outline

Week 1: Introduction & National Income Accounting

Week 2: Exchange Rate and Foreign Exchange Market

Week 3: Exchange Rate and Foreign Exchange Market (cont.)

Week 4: Money, Interest Rates, and Exchange Rates

Week 5: Price Levels and Exchange Rate in the Long Run/PPP

Week 6: Price Levels and Exchange Rate in the Long Run (cont.)

Week 7: Output and Exchange Rate in the Short Run

Week 8: Review and Midterm Exam

Week 9: Output and Exchange Rate in the Short Run (cont.)

Mar. 19-25: SPRING BREAK-NO CLASS

Week 10: Balance of Payments

Week 11: Fixed Exchange Rate System and Foreign Exchange Intervention

- Reserve currency system[HanhVuong]

- Gold standard [Keary Mason]

Week 12: International Monetary System, 1870-1973

- The international monetary system: Interwar years [Travis Roach]

- The international monetary system: Bretton Woods system [Peter Woloszyn]

- Imbalances of the US current account and the collapse of the Bretton Woods system[Kyle OKeeffe]

Week 13: Macroeconomic Policy and Coordination under Floating Exchange Rates

- Exchange rate experience between the Oil shocks [Christopher Garza]

- Disinflation, Growth, Crisis, and Recession [Katja Fricker]

Week 14: The Global Capital Market

- The structure of the international capital market and offshore banking [Oyewole Omisore]

- Regulation of international banking [Loretta Eaton]

Week 15: Developing Countries: Growth, Crisis, and Reform

- Financial crisis in the Latin America, Argentina and Brazil [Patrick Moore]

- Financial crisis in the Latin America, Chile and Mexico [Megan Buckingham]

- East Asian Financial Crisis [Marcy Sutherland]

- Spillover to Russia [Joshua Booth]

-Reforming the Financial Architecture [Kevin Updegraff]

Week 16: COMPREHENSIVE FINAL EXAM

Presentations

15-min presentations and 5-min questions and answers

Evaluation Form

Quiz

Quiz #1 [Jan. 24]: chapters 1 and 12

Quiz #2 [Jan. 31]: chapter 13

Quiz #3 [Feb. 7]: chapter 13

Quiz #4 [Feb. 14]: chapter 14

Quiz #5 [Feb. 21]: chapter 15

Quiz #6 [Feb. 28]: chapter 15

Quiz #7 [Apr. 3] : chapter 16

Quiz #8 [Apr. 10]: chapter 16

Quiz #9 [Apr. 17]: chapter 17

Exams

Midterm [answers]

Final [answers]