International Macroeconomics

Course Term: 
1st year
ECTS credits: 
Course Description: 

International Macroeconomics and Finance asks questions like ‘Are business cycles in different economies all alike?’, ‘How macroeconomic fluctuations are linked together across countries?’, ‘Why are international relative price persistent?’, ‘Are there border effects in price differentials’, ‘Is capital flowing from developing to rich countries, or the other way or around?’, ‘Are financial asset holdings diversified across countries?’, ‘Why do economies experience periodic crises, with severe drops in output and sudden stops in capital inflows?’.

This course is centered about many of these questions, with other courses at CEU picking up on some related issues omitted here. We spend most of the time on theoretical models and the tools needed to study them, the facts motivating their study, along with relevant empirical applications. Besides reviewing key facts and modeling approaches, we seek to identify potential research questions as well.
Each section in the course provides an overview of key facts and modeling approaches, accompanied by a number of applications. A few lectures are devoted to student presentations of specific research papers.

Learning Outcomes: 



Home assignment (40%), paper presentation (30%) and referee report (30%).


Enrollment is open to MA and PhD students as well. Students are assumed to have taken the core MA level macro course sequence at CEU, or equivalent. Class participation is required.

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