International Economics
Spring 2022
Assoc. Prof. Chris Ball
Economics Department
Email: christopher.ball@qu.edu
Office phone: +1 203 582 8745
Office Location: 4th Floor Rocky Top Student Center
QU Course Number: EC 350
Days: Tuesdays and Thursdays
Time: 11:00 am - 12:15 pm
Location: TH 315
Office Hours: TBD and As Needed
Required Online Book and Resources:
Taylor and Feenstra, International Macroeconomics, 5th Edition, MacMillan
My Notes and Materials (PDF)
Supply and Demand Analysis of Exchange Rates
Exchange Rate Regimes
Analyzing Money Markets and Policy
National Income Accounting and Balance of Payments
Readings and Other Material
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IMF IFS for BoP Data: https://data.imf.org/regular.aspx?key=62805740
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IMF, "Emerging Economies Must Prepare for Fed Policy Tightening", IMF Blog, January, 10, 2022
Access through MacMillan's Achieve (includes our course's code): https://achieve.macmillanlearning.com/courses/mho8js
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MacMillan help to "Purchase access to your course in the Student Store"
Or buy book and ONLINE code at the QU bookstore.
Fixed Exchange Rate Regimes: For Homework 2
A General Model of Exchange Rates and Exchange Rate Regimes
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Lecture on a Brief Introduction to Exchange Rate Regimes
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Lecture on S&D and FOREX
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Lecture on General E 01 Basic S&D Analysis in FOREX Mkt
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Lecture on General E 03 R and FIXED
Sterilization
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Lecture Notes: Putting Money Into the Economy - Part 1 Basics
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Lecture Notes: Putting Money Into the Economy - Part 2 Gifts
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Lecture Notes: Putting Money Into the Economy - Part 3 Domestic Open Market Operations (OMO)
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Video: Putting Money Into the Economy (covers material in "Putting Money Into Economy Notes Parts 1, 2 and 3")
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Lecture Notes: Putting Money Into the Economy_ Part 4 International OMO
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Lecture Notes: Sterilization Part 1
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Video: International OMOs
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Video: Sterilization Part 1
Fixed Exchange Rate Regimes
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Lecture Fixed E Part 3: M and R
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Video: Balance of Payments Crises
Homework 2 due by midnight, Thursday, April 16
Answer Key for Homework 2
First part of the Course (done on-site)
Open Economy Basics Review
OLD on-site Lecture Notes
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Open Economy Loanable Funds (Hand written actual lecture notes)
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Practice Problems
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Real Money Markets, FOREX and Time Paths: Two Completed Examples
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Practice Problems
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Lecture on the Law of One Price, Exchange Rates and Purchasing Power Parity
Money Markets and Forex: For Homework 1 (for online course)
The Market for Nominal Money Balances
Videos
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Money Market 1: Money Demand
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Money Market 2: Graphing Money Demand
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Money Market 3: Money Supply
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Money Market 4: Equilibrium
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Money Market 5: Short Run Analysis
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Money Market 6: Long Run Analysis
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Money Market 7: Time Paths
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Money Market 8: Growth Rate of Money Part 1
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Money Market 9: Growth Rate of Money Part 2
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Money Market 10: Anticipated and Permanent Changes in the Money Supply
Converting the Real Money Market to the Nominal Money Market
Note: All changes here are unanticipated and permanent.
Videos
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Real to Nominal Money Market 01: Basics
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Real to Nominal Money Market 02: Increase in M
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Real to Nominal Money Market 03: Decrease in M
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Real to Nominal Money Market 04: Increase in y
Lecture Notes: REAL Money Markets
The FOREX Market (done in class)
Lecture Notes: The FOREX market
The FOREX and Money Markets - Flexible Exchange Rate Regimes
Lecture Notes: REAL Money Markets, FOREX and Time Paths: Two Completed Examples
Lecture Notes (new): Assumptions on Timing Announcements and Beliefs
Unanticipated and Temporary Changes in Levels
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Flex E 1 video: Unant & Temp Increase in the Domestic Money Supply
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Flex E 2 video: Unant & Temp Increase in Domestic real GDP
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*Flex E video 3: Unant & Temp Increase in the Foreign Money Supply
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*Lecture note: Flex E 3 - Unant & Temp Increase in the Foreign Money Supply
Unanticipated and Permanent Changes in Levels
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Flex E 4 video: Unant & Perm Increase in the Domestic Money Supply
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Flex E 5 video: Unant & Perm Increase in Domestic real GDP
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*Flex E 6 video: Unant & Perm Increase in the Foreign Money Supply
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*Lecture note: Flex E 6 - Unant & Perm Increase in the Foreign Money Supply
Anticipated and Permanent Changes in Levels
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Flex E 7 video: Ant & Perm Increase in the Domestic Money Supply
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*Flex E 8 video: Ant & Perm Increase in the Foreign Money Supply
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*Lecture Note: Flex E 8 - Ant & Perm Increase in the Foreign Money Supply
Lecture Notes (new): The Role of Non-Tradables: Exchange Rate Overshooting in Flexible Exchange Rate Regimes
Homework 1 - due by "midnight" Thursday, April 2