Department of Economics
EC6012 INTERNATIONAL MONETARY ECONOMICS SPRING SEMESTER 2008/09
LECTURER: PROF. E J. NELL LECTURER: DR. STEPHEN KINSELLA
OFFICE: KB3-36 OFFICE: KB3-42
EMAIL: email@example.com EMAIL: firstname.lastname@example.org
OFFICE HOURS: BY APPOINTMENT OFFICE HOURS: BY APPOINTMENT
COURSE OUTLINE: Monetary economics concerns the relationship between real and nominal variables.
International monetary economics considers these relationships in the context of an open economy, that
is, with imports and exports between countries incorporated into the models. The aim of this course is to
develop simple models to evaluate the effects of policies on inflation, employment, real interest rates,
LEARNING OUTCOMES: AT THE END OF THIS MODULE, STUDENTS SHOULD BE ABLE TO
1. describe the development of major international institutions like the World Bank, the IMF, and
2. give a brief account of some simple models used in evaluating monetary policy;
3. describe the evolution of the neoclassical and structuralist macroeconomic modelling paradigms
since Keynes' death;
4. understand money, credit, and banking in an international context;
5. describe theories of real and nominal money;
6. build and simulate simple macroeconomic models of the open economy.
SYLLABUS: Topics to be covered include
History of the International Macroeconomy since 1945
DSGE Models and Stock Flow consistent models of the open economy
Models of Transformational Growth & Functional Finance
PRIME TEXT: There is no core text for this course, readings will be supplied on a lecture by lecture basis
and may be downloaded from the EC6012 course page on www.stephenkinsella.net. Several key texts
are on 3 hour short loan in the library.
ASSESSMENT; 3 problem sets worth 30% in total, 70% Final Exam. [Autumn Repeat: 100% exam]
LECTURES: There is one two hour lecture per week, on Mondays at 1600 in S115.
Dept. of Economics Co-ordinator: Ms. Grainne O’Connell
Room: KB3-22A Ph: 061-202284 Email: email@example.com