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OAFP 4855 - Global Monetary and Financial Stability

Type d'enseignement : Elective

Semester : Autumn 2017-2018

Number of hours : 24

Language of tuition : English

Pre-requisite

There is no prerequisite. Elements of theory and analysis will be provided during the course. Accordingly, students should be prepared to work and acquire the relevant knowledge as the course proceeds.

Course Description

The course will look at the global financial system and international monetary cooperation, one decade after the Great Financial Crisis, from an advanced and emerging economies perspective. Unconventional monetary polices in advanced economies had been perceived as disruptive in emerging countries. The global environment is rapidly evolving along three dimensions: an increased financial openness in all economies; the changing nature of global capital flows (more portfolio, less banking) and finally, the emergence of new "global" currencies, the euro and the Renminbi. Will those trends persist or be reversed? Will the world become "multipolar" or existing asymmetries persist? Will there be more or global monetary and financial cooperation or, on the contrary, increased fragmentation of the international financial system? These questions will be discussed from an analytical and policy perspective

Teachers

LANDAU, Jean-Pierre (Professeur associé à Sciences Po)

Pedagogical format

Courses will consist mainly of lectures by the professor (or special guests). Some videos may be shown. Questions, objections or requests by students are extremely welcome. Sufficient flexibility will be kept to deal with issues that may be of special interest fro some students.

Course validation

Students will be required to write a short mid term essay (40% of the grade) and a longer final essay (50% of the grade). Participation will count for 10% of the grade.

Workload

Around two hours of preparatory reading for each class. Detailed indications will be given with the Syllabus

Required reading

  • Selected parts of The Annual Report of the Bank for International Settlements (BIS) on its website (2012 to 2016)
  • Selected parts of The bi-annual Global Financial Stability Report (GFSR) of the International Monetary Fund (IMF) on its website (2012 to 2017)