Master in International Markets
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Master in International Markets |
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Antonio
Quesada Office hours can be requested at aqa@urv.cat |
Classroom A2.3 · 15 April 2024 - 29 May 2024 Monday 15.00-17:00 and Wednesday 15.00-17:00
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 Topics 1. Introduction - world macroeconomics with sovereign states  Some trilemmas | Main issues | Capitalism, finance, democracy 2. Global power - geopolitics, geoeconomics, Rise of the Rest Zhou Xiaochuan (2009) 'Reform the international monetary system'  P-O Gourinchas · H Rey · E Farhi (2011) 'Reforming the IMS' pdf Rule-based international order 1 2 3 Harshad Shah (2024) 'How & why petrodollar could end soon' Why did Europe conquest the world? (By 1914 only China, Japan and the Ottoman Empire resisted European conquest) 3. Global finance - dollar, international monetary system, inequality, trilemmas A stockpile of dilemmas, trilemmas and quadrilemmas The Triffin dilemma | General Triffin dilemma | Global Payment Systems Lorenzo Bini Smaghi (2011) 'The Triffin dilemma revisited' M Maggiori · E Farhi (2017) 'The new Triffin dilemma' Martin Ji (2023) New Triffin dilemma Michael Bordo · RN McCauley (2017): 'Triffin: dilemma or myth' Hélène Rey (2013) 'Dilemma not trilemma: the global financial cycle...' 'Capital flows and domestic and international order' 1 2 'Trapped in the trilemma: when security trumps economics' Daniela Gabor (2016) 'The impossible repo trinity' 4. Global integration - tension integration vs fragmentation, European integration Hanno Beck · Aloys Prinz (2012) 'The trilemma of a monetary union' Lorenzo Bini Smaghi (2011) Padoa-Schioppa's inconsistent quartet François Villeroy de Galhau (2017) 'The future of the euro area' (Governor of the Bank of France) TARGET 2
| T2 J Pisani-Ferry (2012) The euro crisis and a new trilemma 5. Global futures - technology, society, ecosystem Links VoxEU (CEPR)
| Naked capitalism
| Bill Mitchell's blog
| Country economy | Mario Draghi's speech 26/07/12 |
Evaluation Based on a 20 minutes presentation (29th of May). The presentation should - summarize the main ideas from at least three books taken from this list, - connect those ideas between themselves and with what has been explained in class, and - include some personal analysis or opinion (criticizing or reinforcing the ideas). The speaker should address questions from the audience. Alice  Off topic M McLeay, A Radia, R Thomas (2014) 'Money creation in the modern economy', Source: Bank of England 'The role of banks, non- banks and the centralbank in the money creation process', Source: Deutsche Bundesbank
S&P (2013) 'Banks cannot and do not "lend out" reserves' 'The Fed explained. What the central bank does' Dirk Ehnts (2022) 'Modern Monetary Theory: the right compass for decision-making' Average faces 1 2 3 4
| Game
Face
research  1% vs 99% GDP
per capita (Angus Maddison) | 1820-2010 A few Many | 1945-2010 Maps: what does 'the world' look
like? According to whom?
Asians vs
Westerners (R Nisbett 2003:
How
Asians and Westerners think differently and why, p. 141)
Possible futures
(Paul Raskins, Taxonomy of the future) Convergence? |