Kies de Nederlandse taal
Course module: ECB2IMAE
Macroeconomics 2B: International Money
Course info
Course codeECB2IMAE
Course goals
Learning objectives
At the end of the course the student is able to:
  • Explain the main macroeconomic theories in the area of international financial relations and demonstrate insight into the politics of international macroeconomic relationships
  • Apply theoretical knowledge and insights to the practical real-life policy debate
  • Collect and confront data with theoretical knowledge and insights in a country report
Why are some currencies weak and others strong? What are the effects on the economy of a strong currency? Can fiscal and monetary policy be beggar-thy-neighbour policies? These are a few examples of the issues covered by this course. 

In Intermediate Macroeconomics: International Financial Relations we analyse the financial interactions between countries, including exchange rate theories, the balance of payments, policy interdependence, the macroeconomic policy mix, financial development, and capital flows. We also review the institutional and historical setting of monetary cooperation and the analysis of (currency) crises.

International financial and monetary relations affect a broad range of decision-making processes, such as (direct) investment decisions, portfolio investments, the organisation of multinational firms, and the decisions by macroeconomic policy-makers. The course is therefore linked to international trade, monetary theory & policy, and growth & development.

Academic skills
This course focuses on the following academic skills:

Analytical skills
  • Being able to solve problems (identifying the problem, devising a path towards the solution, following this path, verifying the outcome) for more complex assignments.
  • Being able to identify, interpret and critically evaluate the main line of reasoning, for more complex problems.
Communication skills
  • Being able to write a compact and instructed paper on a specific subject, both individually and in groups
Information processing
  • Knowledge of potential sources for literature and data and the skills to explore these independently for a small research project.
  • Being able to detect plagiarism and being able to avoid any kind of plagiarism.
  • Providing correct references in text in a small research project.
  • Providing a correct reference list for a small research project.
  • Being able to present data in a correct and useful manner in a small and instructed research project.
  • Being able to work with data software, such as Excel and Stata. 
Academic reasoning
  • Thinking conceptually, thinking in terms of theory. 
Academic research
  • Being able to execute the instructed research design.
  • Being able to search and select (additional) sources for the research.
  • Being able to execute an instructed empirical research.
  • Being able to apply theoretical concepts in research.
  • Being able to use correct references (APA style).
  • Being able to draw clear and correct conclusions.
Social responsibility
  • Being able to work effectively in teams for a specific project with limited intervention or instruction. 

Lectures and tutorials.

Assessment method
  • Written exam (60% of the final grade; no multiple choice questions);
  • Presentation and country report (40% of the final grade). 

Effort requirements
Active participation in the tutorials is required.

Courses that build on Intermediate Macroeconomics: International Financial Relations
  • Advanced Mathematics (ECB2VWIS)
  • Growth and Development (ECB3GD)
  • Financial Markets and Institutions (ECB3FMI)
In case online access is required for this course and you are not in the position to buy the access code, you are advised to contact the course coordinator for an alternative solution. Please note that access codes are not re-usable meaning that codes from second hand books do not work, as well as access codes from books with a different ISBN. Separate or spare codes are usually not available.
Kies de Nederlandse taal