ECON 741: Advanced International Economics I
ntertemporal models of the current account. Role of non-tradable goods. Monetary models of flexible and predetermined exchange rates. Sticky price models. Balance of payment crises.

ECON 743: Topics in International Finance
This is an advanced course on open economy macroeconomics and international finance. The course covers topics on capital flows, international financial integration, volatility in global financial markets, banking crises, international business cycles, and policy responses. The course has an empirical focus. It requires a solid knowledge of theory and econometric techniques. The mainstream economic models used for the analysis of the main issues in international macroeconomics will be carried to the data to investigate their relevance. The course relies on rigorous economic research to develop a substantive understanding of policy issues

ECON 744: Advanced Topics in International Finance
Real and monetary models of open economy business cycles. Credit market frictions and endogenous incomplete markets.

ECON 747: Macroeconomics of Imperfect Capital Markets
Introduction to theory of imperfect capital markets and applications to topics including limited commitment, the financial accelerator, liquidity, bubbles, crises, the role of credit in monetary economics, and frictions in international capital flows.

Field Requirements in International Finance

Major field: ECON 741, ECON 743 and a third course. The third course can be ECON 742, ECON 744 (if offered as a full semester course), or another course chosen in consultation with the faculty in international finance.

Average grade of B+ or better in the courses.

Field exam.

Passing the field exam is an important precondition for doing thesis research in International Finance. Students who have passed the field exam are encouraged to meet with faculty in the field to develop ideas for original thesis research. Our ultimate willingness to work with you as thesis advisors, however, will depend on your ability to demonstrate the capacity to execute original research in the field.

Minor field: ECON 741 and 743.

Average grade of B+ or better in the courses or field exam.