Macroeconomics & Monetary Policy
Central banking, sovereign debt, and the open economy — from the inside.
The macro-policy specialization: how a central bank conducts monetary policy under developing-economy constraints, how sovereign debt is issued and restructured, and how exchange rates and the balance of payments tie a small open economy to the global cycle.
By the end
- ✓Read a central-bank statement and tell the stance from the noise
- ✓Run the debt-sustainability arithmetic and stress it
- ✓Explain a currency crisis with the right generation of model
- ✓Reason about exchange-rate regimes and the policy trilemma
- ✓Follow a sovereign-debt restructuring from default to deal
Prereqs
- •Intro macroeconomics
- •Comfort with growth rates and ratios
Courses
Monetary Policy & Central Banking
AdvancedWhat a central bank actually does and why it struggles to do it in a developing economy. The mandate, the transmission mechanism, the operating framework, inflation targeting, exchange-rate management, and the limits imposed by fiscal dominance and shallow markets.
Sovereign Debt & Capital Markets
AdvancedWhy governments borrow, when debt becomes unsustainable, and what happens when it goes wrong. Debt dynamics, the instruments, Eurobond market access, concessional finance, default, and the restructuring machinery — through the recent African debt cases.
Exchange Rates & International Macroeconomics
AdvancedHow an open economy connects to the world. The balance of payments, exchange-rate determination and regimes, currency crises, capital flows and the external constraint, regional monetary integration, and the global cycle that sets the terms for the periphery.