International Monetary Systems and Exchange Risk

This lecture provides some key on the international monetary system. The exchange risk, and the dominance of the dollar are the two main characteristics of the IMS. By giving some historical perspective and describing a typology of exchange rates (from floating to fixed), and using some case studies (China, Argentina, Brazil, Europe…), this course tries to show the extent of the difficulties of a basically unregulated system.

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I.    Back to Basics : GDP, Inflation, Money
II.    A short History of the IMS: form the Gold Standard to Bretton-Woods and beyond
III.    Case Studies! China, Argentina, Brazil, Europe

Understand the global context.
Analyse and explain the nature of the exchange risk in a globalized world. 
Understand the two sides of Globalization: trade and Finance (and Money).

Mark Carney: The evolution of the international monetary system, 2009 (pdf article given to students)