Undergraduate Studies
Academic Year 2025-26
International Macrofinance
Files and Links
- Course Outline .pdf (Greek)
- Course Outline .pdf (English)
- Full Description @courses.xrh
- Link to e-class
5th Semester
ΧΡΟΙΚ07
Course id
7,5
ECTS
General background
Course type
This course
- presents the overall economic environment in which all major economic actors (households, firms, banks, investors, governments, central banks) operate,
- describes the major economic forces at work,
- analyses the complex interactions of the macroeconomy with financial markets, governments and central banks,
- explores the incentives and dilemmas of the major actors,
- uses current events in the economy and the financial markets, both domestic and international, as a vehicle to tie the course with the real world.
After completing the course, the students are expected to be able to
- understand economic and financial developments,
- read critically the financial press,
- make economic and financial analyses that can be used for real-life decisions,
- see the ‘big picture’ which will help them with the more advanced courses.
- Search for, analysis and synthesis of data and information, with the use of the necessary technology
- Adapting to new situations
- Decision-making
- Working independently
- Work in an international environment
- Basic macroeconomic variables
- GDP and components
- External accounts of a country (current account, capital flows account, balance of payments)
- Savings-Investment identity
- Price indices and inflation
- Inflation dynamics
- Inflation and interest rates – Real interest rate
- Inflation, hyperinflation, deflation
- The IS/LM model
- Microfoundations with emphasis on the role of the financial system
- Fiscal and monetary policy
- Analysis of scenarios and disturbances
- The dynamics of government debt
- Monetary policy
- Goals, instruments and constraints
- Monetary policy implementation
- Monetary policy and the financial system
- Nominal and real exchange rates
- The capital flows account (CF)
- Interest rates and exchange rates – Interest rate parity
- CF determinants
- The Mundell-Fleming model
- Balance of payments and the domestic economy
- Fiscal and monetary policies under fixed and floating exchange rates
- External disturbances
- Analyses with hybrid exchange-rate systems
- Currency crises
- Twin crises – Currency and banking
- Special topics on international financial investments
