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.
Guided summary of the book by Barry Eichengreen in class, with preparatory readings.
None
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.
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:
None
This offer is part of the following study plans:
Postgraduate Certificate Flagship Programme in Economic Diplomacy and International Business: Standaard traject