Course Spotlight
Ph. D. in Economics,
Cornell University, 2006
M.A. in Economics,
Cornell University, 2004
The International Development Program (IDP) at IUJ is at the forefront in the field of international development in Japan. Its students learn to formulate and implement a variety of economic and public policies for social and economic development through rigorous academic training combined with practical policy-oriented methods. One of the applied disciplinary courses in the International Development Program is described below.
International Finance / Prof. Kakinaka (Applied Disciplinary Course)
The subject of international economics analyses open economies interacting with the rest of the world and is divided traditionally into two parts: international trade dealing mainly with flows of goods and services, and international finance dealing mainly with flows of capital. This course is an introduction to international finance, open macroeconomics; international capital flows, the international monetary system, and their implications for economic policies for individual nations and the world as a whole.
The course is divided into a theory segment and a policy segment. We first study international macroeconomic theory by constructing an integrated model of exchange rates, money, and output determination. In the second part of the course we will apply our analytical tools to a range of current and historical issues. These include the evolution of the international monetary system, macroeconomic policy coordination, optimum currency areas, global capital markets, and currency crises. After taking this course, students are able to fully understand the frameworks for what is at stake in the on-going debates on various international macroeconomic issues.
There are basic objectives in this class. First, I try to convince students that there is a stark difference between passing a course and educating oneself. Second, I hope that students apply economic theories to various complex international economies. To accomplish this, an inquiry-based thinking style centered on in-depth coverage of core principles is critical.
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