The aim of the course is to present the main themes of international monetary macroeconomics. The course starts by laying out the way in which international relations are recorded in national accounts and balance of payments. In this way the course provides a framework for understanding the consequences for a country of running large current account surpluses or deficits.
The course then focuses on different theories of the determination of the exchange rates.
It also discusses the effects on the real economy and on the price levels of the commercial and financial relations of a country with the rest of the world.
The institutional set-up of the euro area will be presented in relation to the theories considered, emphasizing Its peculiarities with respect to the theoretical debates about the alternative between fixed and flexible exchange rates and about the question of the optimal currency areas.
All the topics will be analyzed trying to highlight the differences underlying the main theoretical models. The main official documents and economic reports published by national and international institutions on our country's international relations will also be analyzed.
The material covered is not mathematically complex, but it is taught in a formal and rigorous manner, which assumes a good familiarity with basic economic concepts.