International Business Studies FT
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International Economics II

level of course unit


Learning outcomes of course unit

Students will
master the fundamental connections between monetary foreign trade and exchange rate theory
understand the effects of money and currency policies.

prerequisites and co-requisites


course contents

The aim of this course is to critically examine the fundamental connections between exchange rate theory and monetary policy. Based on the knowledge of relationships between monetary and exchange rate policies in flexible and restricted commodity prices, the course will look at exchange rate determination and the management of flexible and fixed exchange rates. The significance of currency insecurity, a reliable monetary policy and the definition of 'optimal currency areas', as well as considerations of the international financial architecture, will be looked at with reference to real-world developments.

recommended or required reading

Ghosh, A.R., Gulde, A.-M., Wolf, H.C.: Exchange Rate Regimes. Choices and Consequences. Cambridge, 2003.
deGrauwe, P.: International Money. 2. Aufl., Oxford, 1996.

assessment methods and criteria

Written exam and/or scientific paper and/or presentation

language of instruction


number of ECTS credits allocated


planned learning activities and teaching methods

Lecture, group work, presentation and task discussion

semester/trimester when the course unit is delivered


name of lecturer(s)

Dr. Gruber Stefan

year of study

2nd year

recommended optional program components

not specified

course unit code


type of course unit


mode of delivery

In-class course

work placement(s)

not applicable