Macroeconomics Pathway

Macroeconomics Pathway: Monetary Economics & International Finance

Course Dates: 11 - 15th September 2022

Choose to follow the Macroeconomics Pathway, to deepen your knowledge of Macroeconomics with courses in Monetary Economics (morning session) and International Finance (afternoon session).

Or mix and match, choosing different morning or afternoon sessions from our other pathways: Applied or Econometrics.

Morning Session

Monetary Economics

This course provides a comprehensive overview of the key concepts related to monetary policy and central banking and their significance in understanding the economy, including the Monetary Transmission Mechanism, the New Keynesian Model, Financial Frictions, Central Bank Design, and Central Bank Communication.

Topics covered:

  • The Monetary Transmission Mechanism
  • The New Keynesian Model
  • Financial Frictions
  • Central Bank Design
  • Central Bank Communication

Afternoon Session

International Finance

This course provides a comprehensive analysis of the challenges faced by policymakers in dealing with international financial shocks, and the evidence on the dilemma vs. trilemma debate. It covers a range of topics including a model for international financial shock transmission, the Euro Area's current account imbalances and debt crisis, and the impact of capital flows on inequality.

Topics Covered:

  • Evidence on the Dilemma vs. Trilemma debate
  • A model for the international transmission of financial shocks
  • How should policy deal with international financial shocks?
  • Business cycles in advanced and emerging market economies
  • Models of sovereign default (including coding a quantitative model)
  • Heterogeneous households, sudden stops in capital flows and exchange rates (including solving a model with heterogeneous agents)
  • Capital flows and income inequality



Monetary Economics
International Finance