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International Monetary Policy and Financial Architecture

International Monetary Policy and Financial Architecture

3 ECTS credits
75 h study time

Offer 1 with catalog number 8020362GNR for all students in the 1st semester at a (G) Postgraduate - preliminary level.

Information about this course is applicable on academic year 2017-2018.

Semester
1st semester
Enrollment based on exam contract
Impossible
Grading method

Grading (scale from 0 to 20)

Can retake in second session
Yes
Taught in
English
Faculty
Faculty of Economic & Social Sciences & Solvay BS
Responsible organisation
ES Academische eenheid
Educational Team:
Activities and contact hours
  • 30 contact hours Lecture
Course content

Guided summary of the book by Barry Eichengreen in class, with preparatory readings.

Course material
  • Handbook (Required): Globalizing Capital: A History of the International Monetary System., Eichengreen B., Princeton: Princeton University Press
  • Handbook (Required): Handbook of Safeguarding Global Financial Stability: Political, Social, Cultural, and Economic Theories and Models., Caprio G.
Additional info

None

Programme Objectives

General competences

Since the early 90s, emerging markets as well as industrialized economies have struggled in addressing the challenges of increased worldwide capital mobility. The Asian Crisis of the late 90s and the Great Recession following the Financial Crisis that started in the US in 2006, show the complexities of economic and financial interlinkages. Existing institutional arrangements, including the Bretton Woods institutions, can no longer adequately cope with today's situation. New ways to strengthen international cooperation are needed to better predict, forestall, and resolve international financial crises. The course demonstrates how the international monetary system can be understood and effectively governed only if it is seen as a historical phenomenon extending from the period of the gold standard to today's world of fluctuating prices and fiat monetary policy. The context allows to understand better the current situation of flux that sees emerging new tendencies to address monetary and economic problems in a variety of ways, like the creation of the euro, central bank powers, regulatory trends, … and the tradeoffs these ultimately political choices create for everyday economic decisions. Political and social forces exert pressure on our globalized economy in many forms, from formal and informal policies to financial theories and technical models. Efforts to shape and direct these forces to preserve financial stability reveal much about the ways we perceive the financial economy.  We examine therefore the political economy, reflected in institutions, policies and decision-making, to understand the evolution of the monetary system.

 

Grading

The final grade is composed based on the following categories:

  • Written Exam determines 100% of the final mark.

Within the Written Exam category, the following assignments need to be completed:

Written Exam with a relative weight of 100 which comprises 100% of the final mark.

Additional info with regard to grading

None