GED: Global Markets (2235.YR.004705.1)

General information

Type:	OBL	Curs:	1	Period:	S semester
ECTS Credits:	2 ECTS

Teaching Staff:

Group	Teacher	Department	Language
Year 1	Josep Comajuncosa Ferrer	Economía, Finanzas y Contabilidad	ENG

Basic Microeconomics and Macroeconomics

Basic Microeconomics and Macroeconomics

How do national economies evolve and interact in a globalized world? This course focuses on the economic forces and the policy responses that are relevant for business and investment strategies. Specific topics include the meaning and measures of national and international economic activity; what determines which emerging markets develop and grow, while others stagnate; what drives business cycles, how they are propagated globally, and how government policy responds; monetary policy decisions and their effect on financial institutions and credit markets; government liabilities and how markets react to government debt; what determines trade deficits and surpluses, and the relative strength of a currency. The course provides a high-level overview to support business planning, investment strategies, and policy analysis.

- Acquire the basic tools to be able to understand the context where firms operate and the main (external & internal) challenges they face.
- Country approach analysis: familiarize with the main macroeconomic concepts and policies (fiscal, monetary, exchange rate...).
- Deeper understanding of the economic and financial links between countries.
- Study the mechanics of economic crisis.

1. Fiscal Policy 1.1. Government Debt and Sustainability 1.3. Fiscal Policy as Stabilization Tool 1.4. Fiscal Policy in Covid Times

2. Monetary Policy 2.1. Monetary Policy Tools 2.2. Unconventional Monetary Policy Tools: Quantitative Easing 2.3. Fiscal or Monetary Policy? 2.4. Monetary Policy in Covid Times

3. Exchange Rates 3.1. Short-run UIP 3.2. Exchange rate regimes

4. International Capital Flows 4.1. Financial Globalization 4.2. Determinants of International Capital Flows 4.3. FDI and MNCs

5. Drivers of Economic Growth 5.1.Measuring Economic Growth and Development 5.2.Solow Growth Model

The course will be based on:
- Lectures based on different textbooks and papers-each week I will post the lectures and the references for each chapter.
- Student presentations and class discussions of newspaper articles and academic papers.
- Cases

Reference books:
Feenstra and Taylor (2012): International Macroeconomics: 2nd Edition. Textbook background on most issues in class.
David A. Moss (2014): A Concise Guide to Macroeconomics: What Managers, Executives and Students Need to Know, 2nd Edition.

Additional textbooks:
Krugman, Obstfeld and Melitz (2011), 9th edition, International Economics: Theory and Policy, Pearson.
Obstfeld, M. and K. Rogoff (1996) Foundations of International Macroeconomics, Cambridge: The MIT Press.

Group	Teacher	Department
Year 1	Josep Comajuncosa Ferrer	Economía, Finanzas y Contabilidad