COURSE INFORMATION Course Title: INTERNATIONAL MONETARY POLICY

Code	Course Type	Regular Semester	Theory	Practice	Lab	Credits	ECTS
ECO 452	B	2	3	0	0	3	6

Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature)	NA
Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	Eglantina Hysa
Second Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	NA
Teaching Assistant(s) and Office Hours:	NA
Language:	English
Compulsory/Elective:	Elective
Classroom and Meeting Time:
Course Description:	-
Course Objectives:	Objective of the course to teach the students how to analyze international monetary problem, learn how to think critically and be able to apply theories and models in solving these problems.

COURSE OUTLINE

Week	Topics
1	Introduction
2	National income accounting & the balance of payments
3	Exchange rates & the foreign exchange market: an asset approach
4	Money, interest rates, and exchange rates
5	Price levels & the exchange rate in the long run.
6	Output & the exchange rate in the short run
7	Fixed exchange rates & foreign exchange intervention
8	Midterm
9	International monetary systems: an historical overview
10	Optimum currency areas & the European experience
11	Developing countries: growth crisis, and reform
12	The International Monetary System and the Available International Policy Options for Emerging Countries
13	The Experience of Foreign Countries in the Monetary System Development
14	Impact on the Fate of the Euro Area Economy/The Political and Economic Dimensions of Monetary Unions

Prerequisite(s):
Textbook:	Krugman, Paul, Maurice Obstfeld, and Marc Melitz (2012), International Economics: Theory & Policy, 9th edition
Other References:	Kim, S. (2015). The international monetary system and the available international policy options for emerging countries. Cesarano, F. (2011). The political and economic dimension of monetary unions. Open Economies Review, 22(5), 985-996. Cindea, M., & Ciurariu, G. (2011). Impact on the fate of the euro area economy. Anuarul Institutului de Cercetari Economice" Gheorghe Zane"-Iasi, 20(1), 49.
Laboratory Work:
Computer Usage:
Others:	No

COURSE LEARNING OUTCOMES

1	To develop macroeconomic models of open economies that can be usefully applied to international economic issues.
2	To learn and evaluate the theories of international monetary policy
3	To be familiarized with the analytical tools that economists use to analyze international monetary policies.
4	To analyze the concept of nations balance of payments.

COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES (Blank : no contribution, 1: least contribution ... 5: highest contribution)

No	Program Competencies	Cont.
Master of Science in Economics Program
1	The students are gained the ability to look at the problems of daily life from a broader perspective. They gain the needed skills not only to understand economic problems in economics but also to construct a model and defend in meaningful way.	4
2	They have knowledge about the microeconomics.	4
3	They have knowledge about the macroeconomics.	4
4	They have knowledge about the international economics and finance.	5
5	They have ability to use mathematical and statistical methods in economics.	2
6	They know how to use computer programs in both daily office usage and statistical data evaluations in public and private sector.	1
7	They have necessary economics skills that needed in private and public sector.	3
8	They are intended to be specialist in one of departmental fields that they choose from the list of general economics, growth and development, labor economics and labor market, environmental economics, agricultural economics, health economics, education economics and human development, political economics, international economics, monetary economics, finance economics, public finance, international financial markets and institutions, banking and central banking, international trade and banking, monetary economics and banking,	5
9	They have ability to utilize fundamental economic theories and tools to solve economic problems in economics.	4
10	They are aware of the fact that economics is a social science and they respect the social perspectives and social values of the society’s ethics.	4

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Homework	2	10
Midterm Exam(s)	1	35
Final Exam	1	35
Attendance		10
	Total Percent:	100%

ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)

Activities	Quantity	Duration(Hours)	Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours)	16	3	48
Hours for off-the-classroom study (Pre-study, practice)	16	3	48
Mid-terms	1	12	12
Assignments			0
Final examination	1	20	20
Other	2	11	22
Total Work Load:			150
Total Work Load/25(h):			6
ECTS Credit of the Course:			6