Why do governments select the currency policies they do? How has the international monetary system evolved over the last 100 years and how might it evolve in the future? What role did the International Monetary Fund play in the East Asian Financial crisis? Is China a currency manipulator? Could Facebook’s digital currency Libra transform the global economy? What will Covid-19 mean for the global economic order?
This course examines the political and economic issues surrounding international monetary and financial relations, including how monetary policies are selected, the impact of international monetary problems on domestic politics, and rules governing flows of international capital. Topics include policy decisions under the gold standard, the Bretton Woods system, the role of international institutions such as the International Monetary Fund and Bank for International Settlements, floating exchange rates, independent central banks, international debt, the advent of the Euro, and prospects for the US dollar and virtual currencies in the future.