Chapter 1

Macroeconomics in an Open Economy

National income accounting in an open economy

medium • 1 min read

The savings-investment identity and trade balance

medium • 2 min read

IS-LM-BP model interpretation

medium • 3 min read

Mundell-Fleming model for monetary and fiscal policy

medium • 4 min read

Twin deficits hypothesis

medium • 5 min read

Chapter 2

Exchange Rate Determination Theories

Balance of Payments approach to exchange rates

medium • 1 min read

Purchasing Power Parity (Absolute and Relative)

medium • 2 min read

Interest Rate Parity and the Fisher effect

medium • 3 min read

Monetary approach to exchange rate determination

medium • 4 min read

Portfolio balance approach

medium • 5 min read

Chapter 3

International Monetary System

History: Bimetallism, Gold Standard, Bretton Woods

medium • 1 min read

The collapse of Bretton Woods and Smithsonian Agreement

medium • 2 min read

Current system of floating and pegged exchange rates

medium • 3 min read

Role of Special Drawing Rights (SDRs)

medium • 4 min read

Debates on reforming the global monetary architecture

medium • 5 min read

Chapter 4

Currency Crises and Debt Crises

First, second, and third generation models of currency crises

medium • 1 min read

Case studies: Asian Financial Crisis (1997), Global Financial Crisis (2008)

medium • 2 min read

Sovereign debt crises (Eurozone crisis)

medium • 3 min read

Role of IMF conditionality and structural adjustment programs

medium • 4 min read

Contagion effects in international financial markets

medium • 5 min read

Chapter 5

Growth, Trade, and Development

Terms of trade and economic development

medium • 1 min read

Prebisch-Singer hypothesis

medium • 2 min read

Import substitution vs Export-led growth strategies

medium • 3 min read

Foreign aid vs Foreign Direct Investment in developing economies

medium • 4 min read

The role of multinational corporations in economic development

medium • 5 min read