New Course (Spring 2018-2019) - International Financial Flows to Developing Countries and Emerging Markets. Determinants, Impact and Policy Challenges: A Practitioner’s Perspective


The Graduate Institute’s Centre for Finance and Development and Department of International Economics would like to bring to your attention this exceptional course to be held in Spring 2018-2019.


The aim of this course is to show how economic concepts are applied in real-world policymaking. The course, which is held every second year, is taught by a group of Graduate Institute’s alumni with at least 10 years of professional experience, who now work in the financial sector and international organizations such as the International Monetary Fund, the World Bank and the OECD, combining a sound academic background with hands-on expertise.


The course (EI047) has now become part of the curriculum for the Institute’s Master in International Economics. It focuses on current policy issues for developing countries and emerging markets, and covers monetary, fiscal and external policies. All case studies are drawn from recent country experiences.


The course consists of ten parts, each covering a different policy issue.

Each of the parts consist of:

  • a first session providing a targeted overview of the recent literature, highlighting issues of interest,
  • and of a concise presentation by students in the second session of a case study related to the part’s topic, individually or (preferably) in small groups, followed by a class-wide discussion.


The Spring 2018-2019 syllabus will be available on this website in October 2018.

In Spring 2016-2017, the sessions covered: the challenges for policy makers of aid, private capital flows, debt management, and the rise of global value chains, topics in public finance including natural resources management and fuel subsidy reform, emerging monetary policy issues and external sector assessments in developing countries and emerging markets.

In Spring 2014-2015, the sessions covered: macroeconomic impact of aid and role of international financial institutions, private capital flows to emerging and developing economies, natural resources management, the political economy of fiscal reforms, private investment in frontier markets, public finance, sovereign debt and debt management, assessing external imbalances, monetary policy developments in emerging economies, and the negotiation of mega-regional and plurilateral trade agreements.

In Spring 2012-2013, the sessions covered: private capital flows, official development assistance, sovereign debt, debt management and debt resolution, trade and migration, public finance in developing countries and emerging markets, commodity prices and natural resources management, and external imbalances and country insurance.



Courses on Finance and Development


List of courses linked to Finance and Development taught by the three Pictet Chairs in Finance and Development:

  • "Finance and Development," Ugo Panizza
  • "Development Policy," Ugo Panizza
  • "Advanced Development Macroeconomics," Ugo Panizza and Martina Viarengo
  • "Microeconomics of Finance and Development," Lore Vandewalle
  • "Economics of Development," Lore Vandewalle
  • "International Finance," Yi Huang
  • "International Macroeconomics," Yi Huang




Capstone Projects

  • Master in International Affairs (MIA) and Master in development studies (MDEV)

Each year, students from the Graduate Institute’s interdisciplinary master programs (MIA and MDEV) carry out research projects for international and non-governmental organizations, public institutions and the private sector.

The CFD cooperates with the MIA and the MDEV by providing academic and financial supports to students interested in conducting research on finance and development-related topics.