Econ 445 Topics in International MacroeconomicsSpring 2006 |
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Course Description:
This course examines contemporary issues in the
international macroeconomics and finance. Topics to be covered include: (i) speculative
bubbles, (ii) currency crises, (iii) foreign exchange intervention, (iv) the
sovereign debt crisis, (v) globalization of financial markets, and (vi)
disparities in international growth. The course will emphasize how basic
economic reasoning can clarify and illuminate each of these issues.
Prerequisites:
Econ 244, Econ
122, Econ 102 or Econ 103
Textbook:
The course does
not follow a single textbook. However, I will assign background reading from
Krugam and Obstfeld's International Economcs, a text many people used in
Econ 244. Other reading material (e.g. lecture notes and articles) will be
posted on this website.
Requirements:
Attendance
at class is mandatory as I will cover material not contained in any text! The grade
for the class will be based on class participation and presentations (20%),
class presentations (40%), and a research paper (40%).
Reaching Me:
I
can be reached by phone at x7-1570 or by email at evansm1@georgetown.edu.
Office hours will be announced in the first class.
Provisional Course Outline:
The
course is structured around a series of questions arranged under the following
4 headings. Class time will be split between the presentation of background
material on the topic (by me), and student presentations advocating different
viewpoints. Lecture notes, readings and
other material are available to enrolled students on the restricted version of this web page.
1.
i.
Is
current US Fiscal Policy Sustainable?
ii.
Is
there a Real Estate Bubble in the
iii.
Will
the recent rise in Oil Prices trigger a world-wide recession?
2.
The Globalization of Financial Markets
i.
What
have been the main developments in world financial markets over the past 20
years?
ii.
How
should we measure financial integration?
iii.
What
are the benefits and costs of greater integration?
iv.
Can
we improve on the current international financial architecture?
1.
International Growth
i.
Financial
development and income are connected, but what is the driver?
ii.
What
happened to
iii.
What
will happen in
1.
Financial Crises
i.
Is
there a Sovereign debt crises?
ii.
Where
will the next currency crisis occur?
iii.
Can
anything be done to stop the next crisis from spreading around the world?