Student will be able:
- to interpret/answer all questions related to international monetary and financial relations, monetary policy realised in the open economy, its theoretical basis and practical implementation;
- to explain bilateral linkages between GDP, exchange rate, inflation rate, money market interest rate etc.;
- to characterise particular exchange rate regimes;
- to critically assess the European process of monetary integration;
- to make conclusions concerning practical monetary policy implementation in the open economy and its impact on the economy (and other macroeconomic policies).
Literature
Balassa, B. The Purchasing Power Parity Doctrine: A Reappraisal. Journal of Political Economy, 1964, vol. 72, s. 584-596.
De Grauwe, P. International Money, Post-War Trends and Theories. Oxford: Oxford University Press, 1989.
De Grauwe, P. The Economics of Monetary Integration. 8th ed. Oxford: Oxford University Press, 2009.
Eichengreen, B. Globalizing Capital: A History of the International Monetary System. 2nd. ed. Princeton: Princeton University Press, 2008.
Kothari, V. Securitization: The Financial Instrument of the Future. Singapore: John Wiley and Sons, 2006.
Krugman, P. R., M. Obstfeld and J. Melitz. International Economics: Theory and Policy. 9th ed. Harlow: Pearson Addison-Wesley, 2012.
Mishkin, F. The Economics of Money, Banking, and Financial Markets. 9th ed. Pearson Addison Wesley, 2010.
Advised literature
Handa, J. Monetary Economics. London: Routledge, 2000.
Kates, S. Macroeconomic Theory and Its Failings: Alternative Perspectives on the Global Financial Crisis. Cheltenham: Edward Elgar Publishing, 2010.
Klein, M. W. and J. C. Shambaugh. Exchange Rate Regimes in the Modern Era. Cambridge: MIT Press, 2009.
Mishkin, F. S. Monetary Policy Strategy. Cambridge: MIT Press, 2009.
Mulhearn, Ch. a R. V. Howard. The Euro: Its Origins, Development and Prospects. Cheltenham: Edward Elgar Publishing, 2008.
Rothbard M. The Mystery of Banking. Eastbourne: Terra Libertas, 2011.