قصد552 econ552
We will focus in this course on following topics: • The evolution of the international monetary system. • The Balance of payments deficit and correction mechanisms. • Theories of the balance of payments: the elasticities approach, the absorption approach and the monetary approach. • Nominal and real exchange rates. • The exchange rates and the various monetary systems. • Theories of exchange rates determination: the balance of payments, purchasing power parity, the monetary approach, and the assets portfolio approach. • Fisher hypothesis and its relation to PPP • Monetary and fiscal policies under different exchange rate regimes. • Monetary integration and optimal currency area. • International investment and capital flows and the role of multinational enterprises. • The global financial crisis and the role of international financial institutions.