International finance


This module is concerned with the institutions of international finance and the key policy problems that have arisen in recent decades. 

It presents a policy-oriented perspective, similar to that an economist would use when advising governments on how to work within the modern international financial system and how to overcome its problems.

Topics covered

  • Unit 1 Evolution of International Financial Systems
  • Unit 2 Foreign Exchange Markets
  • Unit 3 The Balance of Payments
  • Unit 4 Balance of Payments: the Mundell-Fleming Approach
  • Unit 5 Balance of Payments – the Monetary Approach
  • Unit 6 Fixed and Flexible Exchange Rate Systems
  • Unit 7 Currency Blocs, Financial Integration and International Co-ordination
  • Unit 8 Currency and Financial Crises and the International Financial System


  • one three-hour unseen written examination (70%)
  • two tutor marked assignments (30%)