International Economics (EC 250)
Review sheet for Principles of Economics material: download
If you need more review, here are some videos:
Aggregate Supply and Demand
Analysis:
Video
1
Video 2
Video 3
Policy and AS-AD Analysis:
Video
1
Video 2
Country Case Studies: (downloadable files)
Argentina (especially around 2001), Greece (recent years), Hungary (recent years), Malaysia (especially around 1998), Mexico (especially around 1994), Poland (recent years), Romania (recent years), Russia Revised Russia paper (especially around 1998), Slovakia (recent years), Thailand (especially around 1998)
Country Case Study Resource: WDI Data.xls
Exams: Exam 1 Key Exam 2 Key
Country Questions and Comments:
| Topic | Practice Problems | Readings, Excel, Other |
| Open Economy Basics | PP 01 Open Economy Basics |
IMF
Report on Changing Trade Patterns Consumption Smoothing Basics |
| Open Economy Loanable Funds | PP 02 Open Economy Loanable Funds | Open Economy Accounting
(Balance of Payments, Savings, Investment, and
Capital Flows): Video 1 Video 2 Video 3 Video 4 Video 5 |
| Money Basics |
PP 03 Law of 1 Price, Interest Parity and FOREX PP 04 PPP & Long Run Determination of the Exchange Rate PP 05 Money Basics |
Money and Money Markets:
Introduction to Money Money and Quantity Equation: Video 1 , Video 2 (Q-eqn:Velocity) , Video 3 (Q-eqn: Inflation) Video Law of One Price Video Interest Parity Video FOREX analysis Price Levels and Exchange Rate in LR: Video |
| Money Markets & FOREX | PP 06 Money Markets & FOREX | Money, Interest Rates and Exchange Rates: Video |
| Money Markets & Regimes | PP 07 Money Markets & Monetary Regimes | |
| Fixed Exchange Rate Regimes | PP 08 Fixed Exchange Rate Basics | |
| Expectations in Money & FOREX Markets | PP 09 Expectations in Markets | Class Notes |
| Real Exchange Rate & General Theory of E | PP 10 Real Exchange Rate & General Theory of E | Class Notes |
| FIX vs FLEX | Book Chap 19 (just ignore the crazy AS-AD analysis they do). | |
| Sterilization | Book Chap 17, pp. 463 - 468 and pp. 479 - 481. (For hard core analysis: pp. 657 - 663, but this requires more math and econ or finance.) | |
| Optimum Currency Areas | Book Chap 20, pp. 548 - 558 for Euro Experience, pp. 558 - 569 for Opt. Currency Theory (you can ignore their crazy GG-LL diagrams), and p. 570 for great discussion of E fluctuations and trade. | |
| Policy Trilemma | Book Chap 21, p. 582, Chap 22, pp. 629 - 633. |
Readings
US Current Account
Understanding the Twin Deficits: New Approaches, New Results, FRBSF Economic Letter, July 22, 2005
What if foreign governments diversified their reserves?, FRBSF Economic Letter July 29, 2005
NY Fed Article on Reserve Accumulation: Implications for Global Capital Flows and Financial Markets
Feldstein, Martin. 2007. Why Is the Dollar So High? National Bureau of Economic Research WP 13114
Questions to consider: download
Sudden Stops:
Calvo, Guillermo. 1998. "Capital Flows and Capital-Market Crises: The Simple Economics of Sudden Stops," Journal of Applied Economics.
Calvo, Guillermo and Carmen Reinhart. 1999. When Capital Inflows Come to a Sudden Stop: Consequences and Policy Options in Peter Kenen and Alexandre Swoboda, Key Issues in Reform of the International Monetary and Financial System, (Washington DC: International Monetary Fund, 2000), 175-201.
Additional Readings
IMF History Articles (Finance & Development): general , IMF at 60 , IMF History Time L
IMF Article on Inflation Targeting
Currency Crises: Virtual Bernanke
Helpful Links for Country Reports:
Most immediate help on country reports
International Monetary Fund - IMF
Central Bank Websites (through BIS) - Banks
CIA World Fact Book - CIA
World Bank - World Bank
Organization for Economic Co-operation and Development - OECD
Additionally useful resources depending on focus and region
European Bank for Reconstruction and Development - EBRD
Inter-American Development Bank - IADB
Bank of International Settlements - BIS
European Central Bank - ECB
World Trade Organization - WTO
Association of Southeast Asian Nations - ASEAN
Newspapers and Other Reading Sources
Financial Times - through QU Library Far better paper than WSJ !
Wall Street Journal - WSJ
Economist Magazine - Economist (through QU)
Current Account Sustainability Project: http://currentaccount.lafollette.wisc.edu/home.htm
General Readings - click here