International Monetary and Financial Systems: Past, Present and Future


Marc Flandreau, Cédric Tille

E809 - Spring – 6 or 9 ECTS

This course reviews selected issues that occupy a prominent place in current policy debates. Topics covered include international imbalances, globalisation from trade and financial perspectives as well as the current financial and economic crisis. We take two complementary angles. First, we cover the main points of the current policy debate. Second, we put the issues in a historical perspective, identifying the parallels and difference between the current situation and historical episodes.

 

Class 1, February 24

The course webpage provides you with documents for the class that are posted no later than the previous day.

- slides for the course (here), focusing on the "now" part, the "then" part will be handed out in class.

- handout with 2 slides per page which you can use as a support for taking notes (here).

Class 2, March 3

Slides for the course (here), focusing on the "now" part.

Handout with 2 slides per page (here).

Slides focusing on the "then" part (here and here).

Class 3, March 10

Slides for the course (here), focusing on the "now" part.

Handout with 2 slides per page (here).

Slides focusing on the "then" part (here).

Class 4, March 17

Slides for the course (here), focusing on the "now" part.

Handout with 2 slides per page (here).

Additional paper on exchange rate regimes since WW 2 (here).

Class 5, March 24

Book selection

As indicated in the class of March 17, each student should select one book from the second part of the reading list. (S)he will present the book in one of the final weeks. The idea is not just to summarize the book, but to cast it in terms of economics concepts, and highlights its strenghts and weaknesses in terms of these concepts. Each student will make a presentation followed by a classwide discussion. To ensure a productive discussion, each student should indicate some parts of the book (say 1 or 2 chapters) that the other should read in advance.

To move things forward, contact the Professors with 2 possible books titles by March 24.

 

Slides for the course (here), focusing on the "now" part.

Handout with 2 slides per page (here).

Slides for the "then" part of the course (here).

Class 6, March 31

Slides for the course (here), focusing on the "now" part.

Handout with 2 slides per page (here).

Slides for the "then" part (here).

Schedule for the presentations of the papers

May 5 Emma Yourd

Cassidy, John, 2009, How Markets Fail, The Logic of Economic Calamities.

See also: http://www.newyorker.com/reporting/2008/12/01/081201fa_fact_cassidy

 

May 12 Gavin Yerxa

Lewis, Michael, 2010, The Big Short, Inside the Doomsday Machine.

 

May 19 Alexey Nikiforov

Paulson, Henry, 2010, On the Brink: Inside the Race to Stop the Collapse of the Global Financial System,

 

May 26 Guang Ye Cao

Wessel, David, 2009, In Fed We Trust: Ben Bernanke's War on the Great Panic.

 

June 2 Felipe Nicolas Cisneros

Rajan, Raghuram , 2010, Fault Lines: How Hidden Fractures Still Threaten the World Economy.

Class 7, April 7

Slides for the course (here), focusing on the "now" part.

Handout with 2 slides per page (here).

Slides for the "then" part (here).

Class 8, April 14

Slides for the course (here), modified April 13 as there were initially redundant slides.

Handout with 2 slides per page (here).