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ECON316 Open Economy Macroeconomics

Macroeconomic aspects of international economics, including the balance of payments, the foreign exchange market, the international monetary system, and the effectiveness of monetary, fiscal, and exchange-rate policies in an open economy.

Paper title Open Economy Macroeconomics
Paper code ECON316
Subject Economics
EFTS 0.1500
Points 18 points
Teaching period First Semester
Domestic Tuition Fees (NZD) $829.65
International Tuition Fees (NZD) $3,993.30

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ECON 202
Pre or Corequisite
ECON 201 or ECON 271
Schedule C
Arts and Music, Commerce, Science
May not be credited together with ECON 302 passed before 1994.
Teaching staff
Convenor and Lecturer: Alan King
To be advised.
Graduate Attributes Emphasised
Global perspective, Lifelong learning, Communication, Critical thinking, Self-motivation.
View more information about Otago's graduate attributes.
Learning Outcomes
The broad objective of this paper is to develop your ability to (i) think independently, critically and analytically, and (ii) communicate ideas and arguments, both orally and in writing. Its more specific objective is to develop your knowledge and understanding of:
  • Key macroeconomic variables (e.g. the balance of payments, the money supply, the current account, the exchange rate, the price level, national income, etc.) and their relationships with each other;
  • The effects of shocks (including policy shocks) on an open economy from both Keynesian and Monetarist perspectives;
  • The implications of the international transmission of shocks for macroeconomic policy makers;
  • The economic factors relevant to the choice of an exchange rate regime;
  • The role of the international monetary system in general and the relative merits of the various systems that have operated since the late 19th century.

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First Semester

Teaching method
This paper is taught On Campus
Learning management system


Stream Days Times Weeks
L1 Thursday 11:00-11:50 9-13, 15-22
Friday 13:00-13:50 17


Stream Days Times Weeks
Attend one stream from
A1 Tuesday 15:00-15:50 9-13, 15-22
Wednesday 15:00-15:50 9-13, 15-16, 18-22
A2 Tuesday 16:00-16:50 9-13, 15-22
Wednesday 16:00-16:50 9-13, 15-16, 18-22