Graduate
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Last updated at Oct 17, 2025.
Class plans and classrooms are subject to change, so be sure to check UTAS for the latest information.
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Last updated at Oct 17, 2025.
Class plans and classrooms are subject to change, so be sure to check UTAS for the latest information.
If you do not have access to the UTAS, please contact your instructor or academic affairs office.
International Finance II
International Finance II (Economic Crisis)
Understand objectives and effects of key policies related to economic crises from both theoretical and empirical perspectives. Economic crises can be classified to (1) currency crisis or BOP crisis, (2) sovereign debt crisis, and (3) financial crisis. Students are expected to become familiar with issues that are common, as well as specific to, each type of economic crises. The first two types can be called as macroeconomic crisis, but recently many countries have experienced financial and macroeconomic crises at the same time. Therefore, students are also expected to recognize structural issues on (4) finance-macro linkages in crises. Lastly, this course will cover recent policy discussions developed since the global financial crisis of 2008.
Code
Course title
Lecturer
Semester
Period
291316-03
GEC-EC6314L3
International Finance II
UEDA Kenichi
Mon 4th, Thu 4th
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Language
English
Credit
2
Lecturers with practical experience
NO
Other Faculty
YES
Course Offered by
Economics
Schedule
Class 1. Introduction to the course
Part A: Banking and sovereign debt crises
Class 2. Bank-run and deposit insurance
Class 3. TBTF and bank regulations; financial market run
Class 4. Credit booms and busts
Class 5. Sovereign debt crisis, strategic default, and SDRM
Class 6. Twin and Triple crises
Part B: Currency and BOP crises
Class 7. Empirical facts on currency attacks and sudden stops
Class 8. Introduction to the 1st generation models
Class 9. Overview of the 2nd generation models
Class 10. A two-good small-open economy (SOE) model of a sudden stop
Class 11. A two-good SOE model with a collateral constraint
Class 12. Pecuniary externality and policy intervention
Class 13. Final exam
Teaching Methods
Lecture (discussions encouraged)
Method of Evaluation
Class participation and exams
Required Textbook
No textbook
Reference Books
Claessens, Stijn, M. Ayhan Kose, Luc Laeven, and Fabian Valencia ed., 2014, Financial Crisis: Causes, Consequences, and Policy Response, IMF (Washington, D.C.)
Carlos A. Vegh, 2013, Open Economy Macroeconomics in Developing Countries, MIT.
Maurice Obstfeld and Ken Rogoff 1996, Foundation of International Macroconomics, MIT.
Martin Uribe and Stephanie Schmitt-Grohé, 2017, Open Economy Macroeconomics, Princeton University Press.
Notes on Taking the Course
Basic understanding of micro and macroeconomics as well as statistical methods / econometrics are necessary. A prerequisite is Macroeconomics for Public Policy (or its equivalent). Strongly recommended to have taken or to take International Financial Policy.
