International Macroeconomics from edX

Whether or not you are an avid learner of economics, this course on international macroeconomics will deliver a great level of understanding on the international economy as well as trade balance and exchange.

Given how widespread globalisation and international trade is in the modern world, it is important to consider how interactions with other national economies will affect the internal economy. In this course we identify who the winners and losers of increasingly globalized economies are and explore how to measure the inflows and outflows of credit between countries using real-world examples, such as financial crises.

In addition to teaching through the different kinds of exchange rate systems used in the world today, the course is wrapped up with the concept of purchasing power parity and how it relates to exchange rate systems.

This MOOC is part of the Professional Certificate in Macroeconomics. We recommend that you explore the other two courses of the program, Macroeconomics Performance Indicators and Macroeconomics Policy. The program is based on an introductory macroeconomics course taught on campus at The University of Queensland. Recent global economic and non-economic events have highlighted the importance of understanding the interconnection between the domestic and the international economy, don't wait to enroll and begin your learning with industry experts now.

If you are interested in pursuing economics further, UQx provides an accompanying Professional Certificate in Microeconomics running in parallel to this course. Building on your knowledge of macroeconomics with this additional program will provide you with a strong foundation of economics.

Overall, this course is for everyone, whether you are studying at university, a career professional interested in expanding your economic knowledge, or simply curious about global economic behaviour and what influences it.

What's inside

Learning objectives

The topics that are covered within this course include:
Macroeconomic theory, international trade and financial markets
The use of the production possibilities curve

Intra-industry trade and trade liberalisation
Fiscal policy and monetary systems
Exchange rate systems and currency manipulation.

The topics that are covered within this course include:
Macroeconomic theory, international trade and financial markets
The use of the production possibilities curve
Intra-industry trade and trade liberalisation
Fiscal policy and monetary systems
Exchange rate systems and currency manipulation.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Explores international economics, trade balance, and exchange at a beginner-friendly level

Taught by KK Tang, an expert in international macroeconomics

Covers key macroeconomic theories and concepts relevant to international trade and finance

Examines the impact of globalization and international trade on national economies

Provides real-world examples of international economic phenomena and events

Introduces the concept of purchasing power parity and its relationship to exchange rate systems

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in International Macroeconomics with these activities:

Review Calculus Concepts for Economic Modeling

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Brush up on your calculus skills to enhance your ability to understand and apply economic models.

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Review basic calculus concepts such as functions, derivatives, and integrals.
Practice applying calculus to economic concepts like marginal utility and production functions.

Revisit Basic Microeconomic Principles

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Refresh your understanding of basic microeconomic principles to strengthen your foundation for international economics.

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Review concepts of supply and demand, elasticity, and consumer behavior.
Apply microeconomic principles to analyze international trade and market imperfections.

Read 'International Economics' by Feenstra and Taylor

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Reinforce your understanding of the course concepts by reading a comprehensive textbook on international economics.

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Read selected chapters relevant to the course topics.
Summarize key concepts and theories discussed in the book.
Relate the book's content to the course material.

Six other activities

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Attend a Seminar on Fiscal Policy in Developing Nations

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Attend an expert-led seminar to gain insights into how fiscal policy influences economic growth in developing countries.

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Research and identify relevant seminars or webinars.
Register and attend the event.
Take notes and ask questions during the seminar.
Summarize key takeaways and discuss their relevance to the course.

Solve Exchange Rate System Practice Problems

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Engage in practice problems to solidify your grasp of different exchange rate systems and their implications.

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Review the various exchange rate systems.
Calculate exchange rates using different systems.
Analyze the impact of exchange rate fluctuations on economic outcomes.

Practice Applying Currency Manipulation to Real-World Events

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Practice applying the concepts of currency manipulation to real-world events to enhance your understanding of its impact.

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Identify recent examples of currency manipulation.
Analyze the effects of the manipulation on the countries involved.
Discuss the implications for global economic stability.

Build a Model of International Trade Flows

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Develop a simulation model to visualize and analyze the dynamics of international trade flows, enhancing your understanding of global economic interactions.

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Choose a specific industry or product category for your model.
Identify and collect data on relevant factors affecting trade flows.
Design and implement a computer simulation model using tools like Python or Excel.
Run simulations and analyze the results, considering variables such as tariffs, exchange rates, and consumer preferences.
Present your model and findings to the class.

Host a Study Group on Purchasing Power Parity

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Organize a study group with peers to delve into the complexities of purchasing power parity and exchange rate systems.

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Prepare a presentation on purchasing power parity.
Facilitate a discussion on the implications of purchasing power parity for international trade.
Work together to solve practice problems related to purchasing power parity.

Contribute to an Open-Source Project on Trade Data Visualization

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Apply your knowledge by contributing to a project that visualizes and analyzes international trade data.

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Identify an open-source project related to trade data visualization.
Familiarize yourself with the project's codebase.
Contribute to the project by adding a new feature or improving existing functionality.

Career center

Learners who complete International Macroeconomics will develop knowledge and skills that may be useful to these careers:

Economist

Economists study how economies work and how they affect people's lives. They use their knowledge to advise businesses, governments, and other organizations on how to make decisions that will improve the economy. This course on international macroeconomics would be very helpful for someone who wants to become an economist because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge would be essential for working as an economist, as it would allow one to analyze and interpret economic data and make recommendations on how to improve the economy.

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Financial Analyst

Financial analysts study the performance of companies and make recommendations on whether to buy, sell, or hold their stocks. They also advise clients on how to invest their money. This course on international macroeconomics would be very helpful for someone who wants to become a financial analyst because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge would be essential for working as a financial analyst, as it would allow one to analyze and interpret economic data and make recommendations on how to invest money.

See salaries and explore the career path for Financial Analyst

International Business Manager

International business managers oversee the operations of companies that do business in multiple countries. They are responsible for developing and implementing strategies for entering new markets, managing global supply chains, and dealing with cultural differences. This course on international macroeconomics would be very helpful for someone who wants to become an international business manager because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge would be essential for working as an international business manager, as it would allow one to analyze and interpret economic data and make recommendations on how to enter new markets and manage global supply chains.

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Policy Analyst

Policy analysts study public policy and make recommendations on how to improve it. They work for government agencies, think tanks, and non-profit organizations. This course on international macroeconomics would be very helpful for someone who wants to become a policy analyst because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge would be essential for working as a policy analyst, as it would allow one to analyze and interpret economic data and make recommendations on how to improve public policy.

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Market Research Analyst

Market research analysts study consumer behavior and market trends. They use their findings to help businesses develop new products and services, and to improve their marketing strategies. This course on international macroeconomics would be very helpful for someone who wants to become a market research analyst because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge would be essential for working as a market research analyst, as it would allow one to analyze and interpret economic data and make recommendations on how to develop new products and services and improve marketing strategies.

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Consultant

Consultants provide advice to businesses and organizations on a variety of topics, including finance, marketing, and operations. They may work for consulting firms, or they may be self-employed. This course on international macroeconomics would be very helpful for someone who wants to become a consultant because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge would be essential for working as a consultant, as it would allow one to analyze and interpret economic data and make recommendations to businesses and organizations on how to improve their performance.

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Investment Banker

Investment bankers help companies raise money by selling stocks and bonds. They also advise companies on mergers and acquisitions. This course on international macroeconomics would be very helpful for someone who wants to become an investment banker because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge would be essential for working as an investment banker, as it would allow one to analyze and interpret economic data and make recommendations to companies on how to raise money and grow their businesses.

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Professor

Professors teach and conduct research at colleges and universities. They may specialize in a particular field of study, such as economics, history, or literature. This course on international macroeconomics would be very helpful for someone who wants to become a professor because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge would be essential for working as a professor, as it would allow one to teach and conduct research on the global economy.

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Journalist

Journalists write and report on current events. They may work for newspapers, magazines, or websites. This course on international macroeconomics would be very helpful for someone who wants to become a journalist because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge would be essential for working as a journalist, as it would allow one to write and report on the global economy in a clear and concise way.

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Lawyer

Lawyers advise and represent clients in legal matters. They may specialize in a particular area of law, such as criminal law, corporate law, or family law. This course on international macroeconomics may be helpful for someone who wants to become a lawyer because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge may be helpful for working as a lawyer, as it would allow one to better understand the legal implications of economic decisions.

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Sales Manager

Sales managers oversee the sales force of a company. They are responsible for developing and implementing sales strategies, and for motivating and managing the sales team. This course on international macroeconomics may be helpful for someone who wants to become a sales manager because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge may be helpful for working as a sales manager, as it would allow one to better understand the economic factors that affect sales.

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Public relations manager

Public relations managers manage the public image of a company or organization. They are responsible for developing and implementing public relations campaigns, and for dealing with the media. This course on international macroeconomics may be helpful for someone who wants to become a public relations manager because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge may be helpful for working as a public relations manager, as it would allow one to better understand the economic factors that affect public relations.

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Accountant

Accountants prepare and maintain financial records for businesses and individuals. They may also provide advice on financial matters. This course on international macroeconomics may be helpful for someone who wants to become an accountant because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge may be helpful for working as an accountant, as it would allow one to better understand the economic factors that affect financial statements.

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Statistician

Statisticians collect, analyze, and interpret data. They may work for government agencies, businesses, or research institutions. This course on international macroeconomics may be helpful for someone who wants to become a statistician because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge may be helpful for working as a statistician, as it would allow one to better understand the economic factors that affect data.

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Auditor

Auditors examine the financial records of businesses and organizations to ensure that they are accurate and complete. They may also provide advice on internal controls. This course on international macroeconomics may be helpful for someone who wants to become an auditor because it provides a deep understanding of the global economy, trade, and exchange rates. This knowledge may be helpful for working as an auditor, as it would allow one to better understand the economic factors that affect financial statements.

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