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|
|Teaching period||First Semester|
|Domestic Tuition Fees (NZD)||$846.30|
|International Tuition Fees (NZD)||$4,073.10|
- 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.
- More information link
- View more information about ECON 316
- Teaching staff
- 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.