Are you interested in capital structure and international financial flows, or macro-level societal problems in open economies? This course will provide you with theories to examine these issues through the analysis of Baltic and Central Asian transition economies, and there is a special focus on the effect of nominal prices for economic calculations. This will help you critically assess empirically and theory-based claims, as well as to understand how the theoretical perspective and the choice of methods influence scientific study. You will also learn about the consequences of globalisation for macroeconomic policy, using capital-based macroeconomic theory. This theory is applied in the comparative institutional analyses of transition economies as open economies, using an expanded capital-based macroeconomic theory to deal with international capital flows.
The course consists of seminars that are based on introductory lectures, and is assessed through written take-home examination, hand-in assignments and active participation in seminars.