Instructor: Oleksandr Shepotylo
Office #213
Telephone +38 (044) 492 8011 Ext 121
E-mail oshepotylo@eerc.kiev.ua
Course webpage: http://www.eerc.kiev.ua/~oshepotylo/IntlMacro/index.htm
Office Hours: there are no scheduled office hours, you can
stop by anytime conditional on I am in my office and the door is open. However,
you can email or call me to ensure that I am available.
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International Economics is a
very broad topic that attracts attention of many researchers and generates
substantial amount of research every year. Traditionally, International
Economics is divided into two parts that are studied separately: international
trade (micro approach) and international macroeconomics (surely, macro approach).
This course concentrates on international macroeconomics but I plan to spend
some time to discuss recent developments in international trade literature as
well.
In this course I hope to cover a
small fraction of theoretical and empirical models generated over the last two
decades that study macroeconomic aspects of a small open economy and recent
patterns in international financial and trade flows. In the theoretical part of
the course, I will cover models of current account determination, international
risk sharing, real and nominal exchange rates. In the empirical part of the
course, I will discuss so-called “puzzles” in international macro – e.g.
empirical regularities that contradict to theoretical models – and some recent
topics that are extensively studied by researchers – globalization and
financial market integration, current account imbalances, FDI and trade flows.
Lecture Notes (L):
Schmitt-Grohe, Stephanie and Martın Uribe, 2006, International
Macroeconomics
Main
reference book (OR): Obstfeld, Maurice and Kenneth
Rogoff, 1996, Foundations of International Macroeconomics,
Classes
will meet two times a week on Wednesdays and Fridays in the following sequence:
Wednesday 9-10:20, room 301
Fridays 10:30-11:50, room 301
I will assign two problem sets during the semester. Each PS
will be worth 10 points. Problem sets should be turned in at the beginning
of the Monday’s lecture when it is due. Late problem sets will not be graded. It
is your responsibility to ensure that problem sets turned in outside the
class reach me.
We will have a midterm exam after we finish the first part
of the course. Exam questions in this course require an ability to apply the
course material to solve problems using graphical and mathematical analysis. The
exam will be based on:
(1) Material covered in the lectures
(2) Assigned material in the Problem Sets
You will be asked to write a term paper by the end of the
miniterm. The term paper should be 8-10 pages, one and a half spaced between
lines. I do not want to be very restrictive on the choice of the research
question so there are only three rules:
Your grade for the course is based on the sum of point for
problem sets, a mid-term exam, and a term paper. The maximum number of points
for each component is:
Mid-term 40 points
Problem Sets 20 points
Term Paper: 40 points
Total 100 points
I will post grades on the problem sets and exams at the
course webpage from time to time. If you believe that you have not received
credit for a problem set you should talk to me immediately. I can not consider
claims that you did not received credit for a problem set more than two weeks
after grades are posted.
This syllabus is not meant to be exhaustive. It is just a
set of guidelines to give you an idea of how we would like the course to
proceed, and address some commonly asked questions. Any changes in this
syllabus, if made, will be announced in class reasonably in advance.