ECTS
4 credits
Component
Faculty of Science
Description
The aim is to understand the nature of the interrelations between economies and to analyze the conditions for the effectiveness of economic policies in an open economy, taking into account the nature of the exchange rate regime on the one hand and the degree of openness of capital on the other.
In this perspective, the balance of payments will be presented and analyzed; issues of competitiveness and attractiveness of economies will be discussed.
It will also be a question of understanding the impacts of financial liberalization on the volatility of foreign exchange and the possibilities offered to different types of economic actors to hedge against exchange rate risk.
Finally, the notions of crisis will be presented (financial, exchange rate). The endogeneity of crises will be highlighted with an analysis of the last two crises: the financial crisis of 2008 on the one hand and the health crisis on the other.
Objectives
The objectives of this course are to acquire basic concepts in economics and to deepen the knowledge acquired in the monetary and financial fields
Necessary pre-requisites
L3 of mathematics
Recommended prerequisites: M1 SSD
Knowledge control
This course will be subject to an initial mid-term evaluation and a final mid-term.
Syllabus
CHAPTER 1 THE ECONOMIC SYSTEM (Economic circuit, economic agents, accounting identities)
- Part 1: European Union and Eurozone
- Part 2: Introduction to Macroeconomics
CHAPTER 2 ECONOMIC POLICY
- Part 1: The Rationale for Economic Policy Design
- Part 2: The reasons for state intervention in the economy
- Part 3: Economic Policy Objectives
CHAPTER 3 THE BALANCE OF PAYMENTS
- Part 1: Definitions and Registration Rules
- Part 2: Significant Balance of Payments Balances
- Part 3: The concepts of competitiveness and attractiveness
CHAPTER 4 EXPLANATORY THEORIES OF THE EXCHANGE RATE
- Part 1: Real Approaches to Exchange Rates
- Part 2: Financial approaches to the exchange rate
- Part 3: Exchange rate instability and mimetic behavior of agents
CHAPTER 5 HEDGING AGAINST FOREIGN EXCHANGE RISK
- Part 1: The concept of foreign exchange risk
- Part 2: Internal techniques for hedging against currency risk
- Part 3: External techniques for hedging against currency risk
Additional information
Hourly volumes:
CM : 15
TD : 15
TP : 0
Land : 0