Credits: 6

Schedule: 24.02.2020 - 09.04.2020

Teacher in charge (valid 01.08.2018-31.07.2020): 

Markus Sihvonen

Teaching Period (valid 01.08.2018-31.07.2020): 

IV Spring (2018-2019), Otaniemi campus

IV Spring 2019-2020

Learning Outcomes (valid 01.08.2018-31.07.2020): 

The objective of the course is for the students to understand the basic concepts and models in open economy macroeconomics and to use the corresponding tools to analyze the state and development of open economies. Exercises will complement lectures by requesting students work out concrete applications of the models introduced in the lectures. The lectures will also take students through theories with a keen eye on the basic stylized facts in the field.

Content (valid 01.08.2018-31.07.2020): 

The topics covered in this course include balance of payment, prices in the open economy, financial markets in the open economy, exchange rate regimes, macroeconomic models of the open economy, monetary and fiscal policy in an open economy and recent trends in empirical international finance.

Assessment Methods and Criteria (valid 01.08.2018-31.07.2020): 

  1. Lectures 24h
  2. Exercises 8h (20% of the final marking)
  3. Exam (80% of the final marking)

Workload (valid 01.08.2018-31.07.2020): 

  • Lectures 24h
  • Exercises 8h
  • Preparing for the lectures and exam 100h
  • Preparing for the exercises 24h
  • Exam 4h

Study Material (valid 01.08.2018-31.07.2020): 

Laurence Copeland  Exchange rates and international finance  (2008), compulsory

Martin Uribe – Stephanie Schmitt-Grohe Open Economy Macroeconomics (Not compulsory)


Other readings during the course.

Course Homepage (valid 01.08.2018-31.07.2020):

Prerequisites (valid 01.08.2018-31.07.2020): 

Intermediate Macroeconomics (31C00200) and Microeconomics (31C00100)

Grading Scale (valid 01.08.2018-31.07.2020): 

0 - 5

Registration for Courses (valid 01.08.2018-31.07.2020): 

Course and exam via WebOodi.


Registration and further information