International Economics
Spring 2022
This website is primarily for those students in my Spring 2020 EC 250 International Economics course at Quinnipiac University. I teach the course as an Open Macroeconomics course. While the focus is on serving my students, I'm posting it publicly so anyone with an interest in macroeconomics can access it. Enjoy!
At QUINNIPIAC the course is EC350, T-Th, 11:00 am - 12:15 PM, TH 315
Policy Choices: For Final Homework
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Choosing Your Open Economy's Monetary Policy Regime
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Zoom Video: The Basic Monetary Policy Choices for an Open Economy
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Lecture on Choosing Exchange Rate Regimes and the Optimal Currency Area​
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Lecture on The Open Economy Impossible Trinity (Impossible Trilemma)
Trying to Cheat
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The AS-AD Model
These cover the basics of Aggregate Supply - Aggregate Demand analysis. The model is done in an open economy, including the basic effects on NX.
Here are my lecture notes for this as well: AS-AD Basics
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AS-AD 1 video: Introduction
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AS-AD 2 video: Graphing AS-AD
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AS-AD 3 video: Long-Run Agg. Supply
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AS-AD 4 video: Short-Run Agg. Supply
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AS-AD 5 video: Consumer Optimism Example
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AS-AD 6 video: Consumer Optimism Part II (includes time paths)
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AS-AD 7 video: Pessimism Example
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AS-AD 8 video: Pessimism Part II (includes time paths)
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Applying Open Economy AS-AD Model to Analyzing Tariffs
These are from a video series I did awhile ago. We didn't cover tariffs in the course. They are simply a tax on foreign goods entering a country.
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Countries Reports, Data and Notes:
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Argentina (2001 sudden stop and BoP crisis)
Argentina (1990s inflation stabilization with FIX)
Greece (2007 Global Financial Crisis)
Hungary (2007 Global Financial Crisis)
Mexico (1994 BoP "Tequila" Crisis)
Thailand (1997/98 BoP Crisis)
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Data and Notes:
Argentina (2001 sudden stop and BoP crisis)​
Argentina (1990s inflation stabilization with FIX)
Greece (2007 Global Financial Crisis)
Hungary (2007 Global Financial Crisis)
Mexico (1994 BoP "Tequila" Crisis)
Thailand (1997/98 BoP Crisis)
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Homework and Keys
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HW 1 Assignment
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HW 1 Key
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HW 2 Assignment
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HW 2 Key
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HW 3 Assignment
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HW 3 Key
Fixed Exchange Rate Regimes: For Homework 2
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A General Model of Exchange Rates and Exchange Rate Regimes
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Lecture on a Brief Introduction to Exchange Rate Regimes
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Lecture on S&D and FOREX
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Lecture on General E 01 Basic S&D Analysis in FOREX Mkt
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Lecture on General E 03 R and FIXED
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Sterilization
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Lecture Notes: Putting Money Into the Economy - Part 1 Basics​
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Lecture Notes: Putting Money Into the Economy - Part 2 Gifts
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Lecture Notes: Putting Money Into the Economy - Part 3 Domestic Open Market Operations (OMO)
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Video: Putting Money Into the Economy (covers material in "Putting Money Into Economy Notes Parts 1, 2 and 3")
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Lecture Notes: Putting Money Into the Economy_ Part 4 International OMO
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Lecture Notes: Sterilization Part 1
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Video: International OMOs
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Video: Sterilization Part 1
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Fixed Exchange Rate Regimes
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Lecture Fixed E Part 3: M and R
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Video: Balance of Payments Crises
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Homework 2 due by midnight, Thursday, April 16
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Answer Key for Homework 2
First part of the Course (done on-site)
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Open Economy Basics Review
OLD on-site Lecture Notes
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Open Economy Loanable Funds (Hand written actual lecture notes)
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Practice Problems​
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Real Money Markets, FOREX and Time Paths: Two Completed Examples
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Practice Problems​​​
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Lecture on the Law of One Price, Exchange Rates and Purchasing Power Parity
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Money Markets and Forex: For Homework 1 (for online course)
The Market for Nominal Money Balances
Videos
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​​Money Market 1: Money Demand
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Money Market 2: Graphing Money Demand
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Money Market 3: Money Supply
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Money Market 4: Equilibrium
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Money Market 5: Short Run Analysis
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Money Market 6: Long Run Analysis
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Money Market 7: Time Paths
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Money Market 8: Growth Rate of Money Part 1
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Money Market 9: Growth Rate of Money Part 2
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Money Market 10: Anticipated and Permanent Changes in the Money Supply
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Converting the Real Money Market to the Nominal Money Market
Note: All changes here are unanticipated and permanent.
Videos
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Real to Nominal Money Market 01: Basics
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Real to Nominal Money Market 02: Increase in M
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Real to Nominal Money Market 03: Decrease in M
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Real to Nominal Money Market 04: Increase in y
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Lecture Notes: REAL Money Markets​
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The FOREX Market (done in class)
Lecture Notes: The FOREX market
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The FOREX and Money Markets - Flexible Exchange Rate Regimes
Lecture Notes: REAL Money Markets, FOREX and Time Paths: Two Completed Examples
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Lecture Notes (new): Assumptions on Timing Announcements and Beliefs
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Unanticipated and Temporary Changes in Levels
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Flex E 1 video: Unant & Temp Increase in the Domestic Money Supply
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Flex E 2 video: Unant & Temp Increase in Domestic real GDP
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*Flex E video 3: Unant & Temp Increase in the Foreign Money Supply
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*Lecture note: Flex E 3 - Unant & Temp Increase in the Foreign Money Supply
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Unanticipated and Permanent Changes in Levels
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Flex E 4 video: Unant & Perm Increase in the Domestic Money Supply
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Flex E 5 video: Unant & Perm Increase in Domestic real GDP
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*Flex E 6 video: Unant & Perm Increase in the Foreign Money Supply
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*Lecture note: Flex E 6 - Unant & Perm Increase in the Foreign Money Supply
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Anticipated and Permanent Changes in Levels
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Flex E 7 video: Ant & Perm Increase in the Domestic Money Supply
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*Flex E 8 video: Ant & Perm Increase in the Foreign Money Supply
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*Lecture Note: Flex E 8 - Ant & Perm Increase in the Foreign Money Supply
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Lecture Notes (new): The Role of Non-Tradables: Exchange Rate Overshooting in Flexible Exchange Rate Regimes
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Homework 1 - due by "midnight" Thursday, April 2