Tentative Course Outline

  1. An Introduction to International Capital Markets
  2. Trade Financing:  How do businesses finance imports and exports, and why it does it matter?
  3. Arbitrage, Speculation and the Forward Exchange Market
  4. Portfolio Theory and International Capital Flows
  5. Theories of Exchange Rate Determination
  6. The theory of customs unions/common markets/economic unions/monetary unions?
  7.  When does an economic union make sense? (When does a political union make sense?)
  8.  When does a monetary union/common currency make sense?
  9.  Open Economy Macro: How does a nation achieve internal and external balance?
  10.  The Global Finance Crisis
  11. The Euro Problem: Financial Aspects, Stephanie’s infografic
  12. The Euro Problem: Economic Aspects, Mundell’s seminar article & Cameron’s timeline.
  13. The Euro Problem: Political Aspects, WSJ article


  • Paper Explaining Your Answer to the Research Question – Due: Mar 27
  • Final Project (Quasi-collaborative) – Due: April 24



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