Lecturer:

Xavier Mateos-Planas (Weeks 6-10) Office: Rm 3085 Murray Building Phone: 25229, Email: fxmp@soton.ac.uk Office hours: Tuesdays 2.00-3.00pm

Ákos Valentinyi Course Coordinator, (Weeks 1-5, 11-12) Office: Rm 3101 Murray Building Phone: 22536, Email: A.Valentinyi@soton.ac.uk Office hours: Mondays 2.00-3.00pm

Class tutor (surgery): Johnson Asiama

Johnson Asiama Office: Rm 3081 Murray Building Phone: 25663, Email: jpa1@soton.ac.uk Office hours: Wednesdays 2.00-3.00pm

Lecture schedule:

	Wednesday	11.00-11.40am,	54/5027 5A,
	Thursdays	1.50-2.35pm,	29/1101 LT
	There are no lectures on week 6.

Master classe schedule:

	Wednesday	9.00-9.45am,	Murray Blg 1009,
	Classes start on the third week of the semester. You have master classes every week starting on the third week of the semester. There is no master class on week 6 and 12. Students should hand in solutions to the problem sets at the beginning of the session. The marked solutions will be returned to students so that students receive feedback. This mark does NOT contribute to the final assesment.

Surgery:

	Wednesday	12.50-1.35am,	Murray Blg 1039,
	Surgery starts on the third week of the semester. These sessions are for students to ask specific questions about the problem sets and lectures. There is no surgery on week 6 and 12.

Course structure:

	Week 1:	National Income Accounting and the Balance of Payments;
	Week 2:	Exchange Rates and the Foreign Exchange Market: An Asset-market Approach;
	Week 3:	Equilibrium in the Foreign Exchange Market;
	Week 4:	Money, Interest Rates, and Exchange Rates;
	Week 5:	Fixed Exchange Rates and Foreign Exchange Intervention;
	Week 6:	Independent study week: currency crises;
	Week 7:	Price Levels and the Exchange Rate in the Long Run;
	Week 8:	Output and the Exchange Rate in the Short Run I.;
	Week 9:	Output and the Exchange Rate in the Short Run II.;
	Week 11:	The International Monetary System, 1870-1973;
	Week 11:	Macroeconomic Policy and Coordination Under Floating Exchange Rates;
	Week 12:	Revision;

Textbook:

	Paul R. Krugman and Maurice Obstfeld, International Economics: Theory and Policy, 6. edition, Adison Wesley Longman, 2003. Chapters 12 - 19.
	The publisher maintains a web site for the textbook.

Readings for the independent study week:

1. Maurice Obstfeld, 1996, Models of currency crises with self-fulfilling features, European Ecomic Review, Volume 40, Issues 3-5, Pages 1037-1047.
2. Olivier Jeanne, 2000, Currency Crises: A Perspective on Recent Theoretical Developments, Special Papers in International Economics, Nr 20.
   

Assessment: 100% exam. Problem sets will be distributed during the semester. The problems in the problem sets will be similar to those to be solved during the exam. The marks obtained for the solutions to the problem set do NOT contribute to the final assesment.

Handouts:
The slides for the lectures.

	Two pages per sheet	Week   1	Week   2	Week   3	Week   4	Week   5
		Week   7	Week   8	Week   9	Week 10	Week 11	Week 12
	Four pages per sheet	Week   1	Week   2	Week   3	Week   4	Week   5
		Week   7	Week   8	Week   9	Week 10	Week 11	Week 12

Problem sets:

Ákos Valentinyi Mon 6 Oct 16:13:15 GMT 2001