Scope: The study and understanding of the functioning of an open economy. Examines the functioning of the open economy and the effectiveness of fiscal and monetary policy under different exchange rate regimes

Aim: Students are given the tools of analytical techniques they will need to function effectively as active participants in the ever-changing world we live in. The main objective of the course is to understand Fiscal and Monetary Policy in the open economy, the balance of payments mechanism, the functioning of the foreign exchange market and the determination of the exchange rate.