Lecture

International Capital Movements: Theory and Econometric Evidence

Name in diploma supplementInternational Capital Movements: Theory and Econometric Evidence
Organisational Unit Lehrstuhl für VWL, insb. Internationale Wirtschaftsbeziehungen (http://www.iwb.wiwi.uni-due.de)
LecturersProf. Dr. Volker Clausen
SPW2LanguageEnglish
Cyclesummer semesterParticipants at most16

Preliminary knowledge

Advanced knowledge in macroeconomics of open economies, in the field of money and currencies as well as basic knowledge in econometrics.

Abstract

The course provides advanced knowledge of new theoretical and empirical research in the field of international capital movements. This includes the analysis of the determinants of international capital movements, the analysis of the determining reasons of exchange rate movements as well as the analysis of the functionality of international financial markets. Furthermore, various explanatory approaches for international currency and financial crises are going to be presented and assessed.

Qualification Targets

Students

  • understand the conceptual basics of international capital movements
  • are able to present current models of international capital movements formally, graphically, and are also able to interpret them verbally
  • are in a position to transfer the obtained knowledge and skills to other subjects

Contents

  • Structure and development of international capital movements
  • Causes of international capital movements
  • Techniques to measure the integration of international financial markets
  • Stylised facts of exchange rate developments
  • Purchasing power parity theory
  • Monetary approaches to the exchange rate
  • Portfolio theory
  • The microstructural approach to exchange rate analysis 
  • The effects of foreign exchange interventions
  • Forecasting quality of alternative models
  • Causes of currency and financial crises

Literature

  • Harms, Internationale Makroökonomik;
  • Mark, International Macroeconomics and Finance, Theory and Econometric Methods; 
  • Obstfeld and Taylor, Global Capital Markets;
  • Sarno and Taylor, The Economics of Exchange Rates;
  • Selected scientific publications

Teaching concept

The course is held in the form of lectures.

Participants

  • BWL EaF Master 2015>Wahlpflichtbereich >Modul "International Capital Movements: Theory and Econometric Evidence "1st-3rd Semester, Elective
  • ECMX Master 2019>Wahlpflichtbereich >Bereich Economics >Modul "International Capital Movements: Theory and Econometric Evidence "1st-3rd Semester, Elective
  • LA gbF/kbF BK Master 2014>Masterprüfung in der kleinen beruflichen Fachrichtung >Finanz- und Rechnungswesen, Steuern >Profil "Finanzdienstleistungen" in der kleinen beruflichen Fachrichtung >Wahlpflichtbereich im Profil "Finanzdienstleistungen" >Modul "International Capital Movements: Theory and Econometric Evidence "1st-3rd Semester, Elective
  • Mathe Master 2013>Anwendungsfach "Wirtschaftswissenschaften" >Schwerpunkt "VWL-M II" >Modul "International Capital Movements: Theory and Econometric Evidence "1st-4th Semester, Elective
  • MuU Master 2013>Wahlpflichtbereich II >Wahlpflichtbereich II B.: Märkte und Unternehmen aus Marktperspektive >Modul "International Capital Movements: Theory and Econometric Evidence "1st-3rd Semester, Elective
  • VWL Master 2009-V2013>Wahlpflichtbereich I >Modul "International Capital Movements: Theory and Econometric Evidence "1st-3rd Semester, Elective
  • WiMathe Master 2013>VWL-M II >Modul "International Capital Movements: Theory and Econometric Evidence "1st-4th Semester, Elective
WIWI‑C0808 - Lecture: International Capital Movements: Theory and Econometric Evidence