Master VWL Winter 2017/18  

International Finance

Lecturer: Prof. Dr. Gunther Schnabl
Tutorin: Sophia Latsos
Start: 10.10.2016
Date: Tuesday, 11:15 - 12:45
Room: SR 6 
Language: English
Module: International Economics
Module Number: 07-202-1102
Credits: 10 ECTS, Exam
Erasmus Students: Special Rules Apply

Contents and Slides

1.Currency Markets10.10.2017
2.Choice of Exchange Rate Regime17.10.2017
3.Interest Rate Parity and Purchasing Power Parity 24.10.2017
4.Other Exchange Rate Models07.11.2017
5.Balassa Samuelson-Effect21.11.2017
6.Monetary and Fiscal Policies in an Open Economy29.11.2017
7.Determinants of the Current Account and the Balance of Payments05.12.2017
8.Capital Flows, Growth and Economic Development12.12.2017
9.Credibility and Currency Crisis19.12.2017
10.Gold Standard, Bretton Woods System, Currency Boards09.01.2018
11.Foreign Exchange Intervention and International Policy Coordination16.01.2018
Guest Speaker: Dr. Jörg Krämer (Chief economist of Commerzbank AG) on  „Eine neue geldpolitische Strategie für die EZB“, 19:00-20:30, Hörsaal 318.01.2018
12.Currency Baskets 23.01.2018
Questions and Answers30.01.2018
Written Examination (Sample Exam)07.02.2018


The readings are provided on the lecture slides. Students are encouraged to follow the ongoing debate on international finance and exchange rate policies as reported in Frankfurter Allgemeine Zeitung, Financial Times (German or English edition), the Economist (for weekly updates) or Auszüge aus Presseartikeln of Deutsche Bundesbank (free subscription available at the Pressezentrum of Deutsche Bundesbank).

Basic Readings
Copeland, Laurence (2008): Exchange Rates and International Finance, Harlow.
De Grauwe, Paul (1996): International Money, Oxford.
Eichengreen, Barry (1996): Globalizing Capital: A History of the International Monetary System, Princeton.
Kindleberger, Charles (2000): Manias, Panics and Crashes, New York.
McKinnon, Ronald (1997): The Rules of the Game: International Money and Exchange Rates, Cambridge (Massachusetts).

letzte Änderung: 06.12.2018