International Macroeconomics

Academic year
Subject Area
Language of Instruction
Mode of Delivery
ECTS Credits
1st Cycle Studies

Recommended Prerequisites

Macroeconomics I and II, and knowledge of English.

Teaching Methods

Exposition and discussion of the syllabus contents by teacher with multimedia support whenever possible and adequate and presentation and discussion of practical exercises by the students on the subjects taught previously or on associated issues that are proposed in advance by teacher.

Learning Outcomes

Learning objectives

The student must be capable of: 1. to explain the concept of effective exchange rate and to analyze the evolution of the euro against major currencies; 2. to explain the effects of the exchange rate variations in the international trade; 3. to explain the effects of the autonomous variation in the demand on incomes and the international trade; 4. to analyze the present global macroeconomic imbalances; 5. to analyze external devaluation polices versus internal devaluation policies in the euro zone; 6. to discuss the models of export led growth in the context of the European Union and the framework of global economy..

Objectives about competencies

The student must be capable of: 1. to identify, to organize, to synthesize and to expose subjects of international macroeconomics; 2. to express his/her opinion in a reasoned form about the same type of subject; 3. to critically learn and to reflect with high degree of autonomy subjects on the same matter.

Work Placement(s)



I. Effective exchange rates and competitiveness

II. The price effects and the trade balance

III. The income effect and the trade balance

IV. The export-led growth policies

V. Macroeconomic interdependence: case studies. 

Head Lecturer(s)

Margarida Rosa Silva Baila Madeira Antunes

Assessment Methods

Periodic or by final exam as given in the course information: 100.0%


ANTUNES, Margarida — Desvalorização interna na Zona Euro : uma visão global a partir do Modelo de Lamfalussy. Coimbra : FEUC, 2015.
ANTUNES, Margarida — Políticas macroeconómicas e efeitos de ajustamento no rendimento e na balança corrente. Coimbra : FEUC, 2015.
APPLEYARD, Dennis R. ; FIELD JR, Alfred J. - International economics. 8th ed. New York : McGraw-Hill/Irwin, 2014.
BANCO CENTRAL EUROPEU — “Revisiting the effective exchange rates of the euro”, Occasional paper series 134, 2012.
MINQI LI ; ANDONG ZHU — “Neoliberalism, Global Imbalances, and Stages of Capitalist Development”, PERI Working Paper 110, 2005.
MITCHELL, William — Eurozone dystopia : groupthink and denial on a grand scale. Cheltenham : Edward Elgar, 2015.
MOTA, Júlio Marques - Taxas de câmbio, paridades, unidades de medida : uma introdução. Coimbra : FEUC, 2012.
PILBEAM, Keith — International finance. 3rd ed.. Basingstoke : Macmillan Press, 2006.