International Macroeconomics

Dozent/in	Julia Fischer, MSc
Veranstaltungsart	Vorlesung
Code	HS261050
Semester	Herbstsemester 2026
Durchführender Fachbereich	Wirtschaftswissenschaften
Studienstufe	Master
Termin/e	Mo, 14.09.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 21.09.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 28.09.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 05.10.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 12.10.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 19.10.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 26.10.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 02.11.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 09.11.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 16.11.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 23.11.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 30.11.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 07.12.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 14.12.2026, 14:15 - 16:00 Uhr, HS 5 Mo, 14.12.2026, 14:15 - 15:15 Uhr, HS 1 (Prüfung)
Umfang	2 Semesterwochenstunden
Turnus	weekly
Inhalt	Why did European leaders in the 1990s decide to establish the euro? Why did the Swiss National Bank introduce, and later abandon, a lower bound of 1.20 francs against the euro? Why has the euro been so weak in recent years? Why has the idea of currency weakening—and the fear of a "currency war"—repeatedly come up since the Great Recession? Questions like these have received a lot of attention lately—and will be addressed in this course. We will start by introducing basic concepts such as the balance of payments and the exchange rate. We will then discuss how exchange rates are determined, considering different exchange rate regimes. Further topics include the historical performance of alternative exchange rate regimes and questions of macroeconomic policy-making in an integrated world economy. Students will also have the opportunity to work through various theoretical problems and are encouraged to engage with current policy questions.
Lernziele	Students familiarize themselves with the basic concepts used in the study of open economies. Students become proficient in analyzing the short- and long-run consequences of monetary and fiscal policies under different exchange rate regimes, relying on a coherent framework which will be set up in class. Finally, students develop a deep understanding of important international monetary policy issues (such as how international policy-coordination problems are affected by the exchange-rate regime).
Voraussetzungen	None.
Sprache	Englisch
Anmeldung	Binding registration takes place via the UniPortal; see notes below in the «Proof of Performance» field. For course information and materials, registration on the OLAT e-learning platform is required from 31 August – 25 September 2026. The students themselves are responsible for verifying the course’s creditability towards their degree program. Direct link to the OLAT course: https://lms.uzh.ch/url/RepositoryEntry/17903616135
Leistungsnachweis	***IMPORTANT*** To receive course credit and earn academic credits, registration via the Uni Portal within the regular exam registration period (29 October – 12 November 2026) is MANDATORY. Late registrations and withdrawals will not be accepted. Once the registration period has ended, participation in the course is MANDATORY. If the course is not completed without a valid reason and without proper withdrawal (including supporting documentation; see the Exam Guidelines), the course will be considered failed (grade 1).
Abschlussform / Credits	Written exam / 3 Credits
Hörer-/innen	Ja
Kontakt	julia.fischer@unilu.ch
Literatur	The course is based on lecture notes which will be published on OLAT. The lecture notes follow, more or less closely, selected chapters of the textbook "International Economics. Theory and Policy" by Paul Krugman, Maurice Obstfeld, and Marc Melitz (Pearson). The lecture notes refer to a number of research papers and books. These are not required reading materials, but they are recommended for students with a particular interest in international macroeconomics.