Teaching Plan Information

5.3. Syllabus

The course will address the following topics:

Section I. Institutions

• - The monetary and financial relations

• - Foreign exchange markets and exchange rates

• - Exchange rate regimes and exchange rate policy

• - Evolution of the international monetary system

• - The role of major currencies

• - Peripheral currency and financial crises

• - The European Monetary Union

• - Debt crisis in the euro countries

Section II. The theory

• - Efficiency in the market exchange rate

• - Determination of the exchange rate: Theory and Evidence

• - The exchange rate models of new open macroeconomics

• - Models of currency crises and speculative attacks

Section III. The empirical world

• - Unit root and real exchange rate

• - PPP and PDI. Cointegration techniques

• - Applications to panel data

• - Measures of persistence

• - Fractional Integration

• - Structural Change

• - Nonlinear models: TAR, STAR and MS