3 ECTS credits
75 h study time

Offer 1 with catalog number 8020363GNR for all students in the 1st semester at a (G) Postgraduate - preliminary level.

1st semester
Enrollment based on exam contract
Grading method
Grading (scale from 0 to 20)
Can retake in second session
Taught in
Faculty of Economic & Social Sciences & Solvay BS
ES Academische eenheid
Educational team
Peter Claeys (course titular)
Activities and contact hours
21 contact hours Lecture
Course Content
  1. Baseline models of international macroeconomics
    1. trade
    2. current account
    3. exchange rates
    4. fiscal policy
    5. monetary policy
  2. Applications to real world cases
    1. Policy problems


Course material
Handbook (Required) : Foundations of International Macroeconomics., Maurice Obstfeld and Kenneth S. Rogoff, The MIT Press, 9780262150477, 1996
Additional info


Learning Outcomes

General competences

With the increasing internationalisation of economic life the study of International Economics aims to develop thinking about domestic economic developments in the framework of a global economy. The basic tools to understand international macroeconomic developments are presented in a single theoretical framework including:

  1. the determinants of international trade, including the implications of imperfect competition in international markets;
  2. the fundamental determinants of the balance of payments and exchange rates (including the role of exchange rate arrangements);
  3. the international context within which domestic macroeconomic policy is designed and conducted;
  4. international macroeconomic linkages, and the importance of international macroeconomic policy co-ordination.

These tools can then be applied to:

  1. understand the role of growth, inflation, interest rates, exchange rates and asset prices in the global economy;
  2. determine the causes and consequences of trade deficits and external imbalances;
  3. understand the auses of currency, banking and financial crises in emerging market economies and advanced economies;
  4. short- and long-term effects of monetary and fiscal policies including unconventional monetary policies.



The final grade is composed based on the following categories:
Written Exam determines 100% of the final mark.

Within the Written Exam category, the following assignments need to be completed:

  • Written Exam with a relative weight of 100 which comprises 100% of the final mark.

Additional info regarding evaluation


Allowed unsatisfactory mark
The supplementary Teaching and Examination Regulations of your faculty stipulate whether an allowed unsatisfactory mark for this programme unit is permitted.

Academic context

This offer is part of the following study plans:
Postgraduate Certificate Flagship Programme in Economic Diplomacy and International Business: Standaard traject