Spring 2014 - 63735 - PA393L - Advanced Policy Economics
Issues in International Macroeconomics
|Instructor(s):|| Varoufakis, Yanis
|Day & Time:||T 6:00 pm -9:00 pm|
|Waitlist Information:||For LBJ Students: UT Waitlist Information|
Students are required to take an additional three-hour course in policy economics, selected from among a set of courses focusing on the application of economic theory and techniques to a specific area of public policy. Course options include macroeconomics, public finance, regulation, international trade and finance, natural resources and environmental policy, health policy, transportation policy, human resource development, urban and regional economic development, international development, education policy, social policy, and labor economics. Not all options are offered every year. This course is usually taken in the second year.
"The economic health of every country is a proper matter of concern to all its neighbours, near and far." FDR, 1944, at the opening of the Bretton Woods conference. Since FDR uttered these famous words, the global economy has become integrated to an extent that banking crises, debt crises, trade imbalances, rapid capital flows, currency ‘wars’, etc. can only be understood, and addressed, at a global level.
This course will focus on central macroeconomic issues of a global reach. Topics will include:
- Public debt, debt crises and the role of the IMF, World Bank etc. (of the so-called Third World, of Central and Latin America, of S.E. Asia, of Russia and of the Eurozone)
- Global trade imbalances
- Role of multinational corporations
- Free Trade Zones/Agreements
- International coordination of Central Banks
- Attempts at international regulation of banks (e.g. Basle I,II&III)
- Tax harmonization across different countries and continents
- Global inequality, the fight against poverty and their local repercussions
At the beginning of the semester, students will be allocated topics which they will be expected to present to class based on extensive research of the relevant literature. Class participation, reflecting a thorough prior reading of the sources, will be a requirement and a significant part of the final grade will depend on it.