Online Course Guide of WHU –

Find all modules and courses of our degree programs.

Please use the filters below to select the term (spring or fall) as well as the respective program (BSc, MSc, MBA, Exchange, Doctoral) of your choice for an overview of all modules offered at WHU. The courses are listed under the modules. Please click on a module to see which courses are part of it. If you would like to find out more about a certain course, click on the name of the course to see detail information. The location of the lecture will be reveiled after your course registration on myWHUstudies.

Spring term counts from January - August, fall term counts from September - December.

Important for Exchange Students: As the Full-Time and Part-Time MBA Programs utilize a modular course structure, the dates on which students begin and end the exchange are flexible. Please find here a chronological overview of the preliminary course offering for Spring and Fall.

Spring 2019  ›  Bachelor of Science  ›  Bachelor of Science - 4th Semester  ›  International Economics

International Monetary Relations

Course Code:
Prof. Dr. Michael Frenkel
Course Type:
BSc Course
Week Hours:
Spring 2019
(Please note that exchange students obtain a higher number of credits in the BSc-program at WHU than listed here. For further information please contact directly the International Relations Office.)
1. Globalization, international transactions, and the balance of payments

2. The foreign exchange market, the equilibrium exchange rate, and currency

3. The determination of the exchange rate in the long run and in the short run

4. International monetary systems and the adjustment mechanism

5. Currency crises

6. Macroeconomic policy in an open economy

Tuesday, 08/01/2019
08:00 AM till 11:15 AM
Friday, 11/01/2019
03:30 PM till 06:45 PM
Monday, 28/01/2019
08:00 AM till 11:15 AM
Friday, 01/02/2019
03:30 PM till 06:45 PM
Monday, 18/02/2019
03:30 PM till 06:45 PM
Thursday, 21/02/2019
08:00 AM till 11:15 AM
This course introduces students to the foreign exchange market and the vital role it plays in the economy. It discusses the interaction of exchange rates, interest rates, output, and foreign exchange reserves. It begins with a look at what international transactions comprise and how countries across the world record them. It then continues with a look at the market participants in the foreign exchange markets and shows how their interaction determines the equilibrium exchange rate. The course highlights the difference between short run and long run drivers of the exchange rate. Finally, the discussion focuses on the effects of economic policy in an open economy.
Carbaugh, Robert J., International Economics, 16th edition, Boston 2017 (Cengage Learning)
Cases, Group Projects and Lecture Material
Final Exam and Group Project