국제수지론

한국외국어대학교
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페이스북 트위터 카카오톡 네이버밴드 링크복사

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사회과학 >경영ㆍ경제 >경제학
강의학기

2015년 2학기

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5,612

강의계획서

본 강의는 개방경제의 거시경제이론 및 정책적 함의를 다룬다. 환율, 국제수지, 국민소득계정, 무역수지 등의 기본적 개면으로부터 출발하여, 한 개방경제전체의 움직임을 설명할 수 있는 분석의 틀을 구축한다. 이를 이용하여 국제경제의 현안 및 정책적 이슈들을 분석한다.

차시별 강의

1.	[TOPIC 1] Basics of Exchange Rates and Foreign Exchange Market	Basic Concepts of Exchange Rates are discussed first. Then, the relations between interest rates and exchange rates are examined via the concept of arbitrage.
	[TOPIC 1] Basics of Exchange Rates and Foreign Exchange Market	Basic Concepts of Exchange Rates are discussed first. Then, the relations between interest rates and exchange rates are examined via the concept of arbitrage.
2.	[TOPIC 2_1] Exchange Rate in the Long-Run(I)	We will examine: i) why exchange rates are related to price levels in the long-run when prices are flexibly adjusted; ii) How price levels are determined in the long-run.
	[TOPIC 2_1] Exchange Rate in the Long-Run(I)	We will examine: i) why exchange rates are related to price levels in the long-run when prices are flexibly adjusted; ii) How price levels are determined in the long-run.
3.	[TOPIC 2_2] Exchange Rate in the Long-Run(II)	The role of interest rate in the money demand and exchange rate determination is explained from the long-run perspective. Then, some reasons why purchasing power parity (PPP) fails to hold will be discussed.
	[TOPIC 2_2] Exchange Rate in the Long-Run(II)	The role of interest rate in the money demand and exchange rate determination is explained from the long-run perspective. Then, some reasons why purchasing power parity (PPP) fails to hold will be discussed.
4.	[TOPIC 3_1] Exchange Rate in the Short-Run(I)	Uncovered interest parity (UIP) condition will be interpreted as a theory of exchange rate determination in the short-run while price levels are fixed. Then, how interest rate are determined in the short-run will be explained.
5.	[TOPIC 3_2] Exchange Rate in the Short-Run(II)	We combine: i) the long-run theory of exchange rate, ii) the UIP condition, and iii) the short-run theory of interest rate, to develop a comprehensive model of exchange rate determination. Using the comprehensive model, we explain the overshootings of exchange rates.
6.	[TOPIC 4] National Income and Balance of Payments for an open economy	How to measure overall economic activities in an open economy is explained. To do so, we see how the production/expenditure/income of an open economy are related in the national income and products accounts (NIPAs), and how international trade in goods and services is complemented and balanced by a parallel trade in assets via the balance of payments (BOPs) accounts.
	[TOPIC 4] National Income and Balance of Payments for an open economy	How to measure overall economic activities in an open economy is explained. To do so, we see how the production/expenditure/income of an open economy are related in the national income and products accounts (NIPAs), and how international trade in goods and services is complemented and balanced by a parallel trade in assets via the balance of payments (BOPs) accounts.
	[TOPIC 4] National Income and Balance of Payments for an open economy	How to measure overall economic activities in an open economy is explained. To do so, we see how the production/expenditure/income of an open economy are related in the national income and products accounts (NIPAs), and how international trade in goods and services is complemented and balanced by a parallel trade in assets via the balance of payments (BOPs) accounts.
7.	[TOPIC 5_1] IS-LM-FX Model (I)	To describe how an open economy works as a whole, we construct a model (called the IS-LM-FX model) that can explain the relationships among all the major macroeconomic variables in an open economy in the short run.
8.	[TOPIC 5_2] IS-LM-FX Model (II)	Using the IS-LM-FX model, we examine the effects of monetary and fiscal polices under a floating exchange rate.
9.	[TOPIC 5_3] Issues around stabilization policies	Some practical issues around actual stabilization polices will be discussed, within and beyond the context of the IS-LM-FX model.
	[TOPIC 5_3] Issues around stabilization policies	Some practical issues around actual stabilization polices will be discussed, within and beyond the context of the IS-LM-FX model.
10.	[TOPIC 6_1] IS-LM-FX model under a peg	The IS-LM-FX model is adapted to the case of the pegged exchange rates, and is used to examine the effects of monetary and fiscal policies.
	[TOPIC 6_1] IS-LM-FX model under a peg	The IS-LM-FX model is adapted to the case of the pegged exchange rates, and is used to examine the effects of monetary and fiscal policies.
11.	[TOPIC 6_2] To Peg vs To Float	The pros and cons of the floating and pegged exchange rates are examined in the context of the policy trilemma. A case study of two east european countries adopting different exchange rate regimes is also discussed.
	[TOPIC 6_2] To Peg vs To Float	The pros and cons of the floating and pegged exchange rates are examined in the context of the policy trilemma. A case study of two east european countries adopting different exchange rate regimes is also discussed.
	[TOPIC 6_2] To Peg vs To Float	The pros and cons of the floating and pegged exchange rates are examined in the context of the policy trilemma. A case study of two east european countries adopting different exchange rate regimes is also discussed.
12.	[TOPIC 7] The ERM Crisis	The ERM crisis, a historical episode of the currency crises, will be discussed.
	[TOPIC 7] The ERM Crisis	The ERM crisis, a historical episode of the currency crises, will be discussed.
13.	[TOPIC 8] How pegs break?	Using the IS-LM-FX model, we explain the collapse of a peg triggeed by a sudden change in the market sentiment.
	[TOPIC 8] How pegs break?	Using the IS-LM-FX model, we explain the collapse of a peg triggeed by a sudden change in the market sentiment.
	[TOPIC 8] How pegs break?	Using the IS-LM-FX model, we explain the collapse of a peg triggeed by a sudden change in the market sentiment.