ECON404 International Monetary System
Syllabus | International University of Sarajevo - Last Update on Feb 02, 2026
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Economics
Azra Bičo
Course Lecturer
Course Objectives
ECON404 is upper level course in international monetary system. This course develops students' theoretical and practical knowledge about International Monetary Regimes and applies it in attempt to gain an understanding of recent evevents in the international system and analyze the international and the domestic political contexts of International Monetary Regimes political.
Learning Outcomes
After successful completion of the course, the student will be able to:
Course Materials
Required Textbook
Krugman, R. Paul; Maurice Obstfeld and Marc J. Melitz. 2018. International Economics: Theory and Policy. Harlow: Pearson, Eleventh Edition, Pascal Salin, (2016). The International Monetary System and the Theory of Monetary Systems
Additional Literature
Krugman, R. Paul; Maurice Obstfeld and Marc J. Melitz. 2018. International Economics: Theory and Policy. Harlow: Pearson, Eleventh Edition, Pascal Salin, (2016). The International Monetary System and the Theory of Monetary SystemsTeaching Methods
The methods include lecturing
Class discussions and presentation.
Weekly Topics
| Week | Topic | Readings / References |
|---|---|---|
| 1 | Money and interest rates | Ch 15 Krugman, R. Paul; CH 5 Pascal |
| 2 | Exchange rates in international monetary systems | Ch 15 Krugman, R. Paul; CH 6 Pascal |
| 3 | International monetary systems | Ch 19 Krugman, R. Paul; CH 11 Pascal |
| 4 | Fixed exchange rates and foreign exchange intervention | Ch 18 Krugman, R. Paul; CH 14 Pascal |
| 5 | Quiz Exam, | All covered until week 4 |
| 6 | The process of monetary transmission | Ch 14 Pascal |
| 7 | MIDTERM EXAM | |
| 8 | International Monetary Equilibrium | Ch 16 Pascal |
| 9 | Monetary policy and monetary crisis | Ch 22 Pascal |
| 10 | Optimum currency areas | Ch 21 Krugman, R. Paul; Ch 23 Pascal |
| 11 | European Monetary Union | Ch 21 Krugman, R. Paul; |
| 12 | International monetary institutions | Lecture presentation |
| 13 | Group project presentation | |
| 14 | Group project presentation | |
| 15 | Review for Final exam |
Course Schedule (All Sections)
| Section | Type | Day 1 | Venue 1 | Day 2 | Venue 2 |
|---|---|---|---|---|---|
| ECON404.1 | Course | Thursday 15:00 - 17:50 | B F2.8 | - | - |
Office Hours & Room
Assessment Methods and Criteria
Assessment Components
Final Exam
AI: Not AllowedAlignment with Learning Outcomes : 1 2 3 4 5
Mid-term exam
AI: Not AllowedAlignment with Learning Outcomes : 1 2 3
Project and Presentations
AI: Not AllowedAlignment with Learning Outcomes : 3 4 5 6
Quiz
AI: Not AllowedAlignment with Learning Outcomes : 1 2
IUS Grading System
| Grading Scale | IUS Grading System | IUS Coeff. | Letter (B&H) | Numerical (B&H) |
|---|---|---|---|---|
| 0 - 44 | F | 0 | F | 5 |
| 45 - 54 | E | 1 | ||
| 55 - 64 | C | 2 | E | 6 |
| 65 - 69 | C+ | 2.3 | D | 7 |
| 70 -74 | B- | 2.7 | ||
| 75 - 79 | B | 3 | C | 8 |
| 80 - 84 | B+ | 3.3 | ||
| 85 - 94 | A- | 3.7 | B | 9 |
| 95 - 100 | A | 4 | A | 10 |
Late Work Policy
Information about late submission policies will be shared during class and posted in this section. Please check back for official guidelines.
ECTS Credit Calculation
📚 Student Workload
This 6 ECTS credit course corresponds to 150 hours of total student workload, distributed as follows:
Lecture Hours
42 hours ⏳ (14 week × 3 h)
Project and Presentations
6 hours ⏳ (1 week × 6 h)
Class Participation
48 hours ⏳ (8 week × 6 h)
Home Study
24 hours ⏳ (4 week × 6 h)
Mid-term Exam Study
10 hours ⏳ (1 week × 10 h)
Final Exam Study
14 hours ⏳ (1 week × 14 h)
Quizz
6 hours ⏳ (1 week × 6 h)
150 Total Workload Hours
6 ECTS Credits
Course Policies
Academic Integrity
All work submitted must be your own. Plagiarism, cheating, or any form of academic dishonesty will result in disciplinary action according to university policies. When in doubt about citation practices, consult the instructor.
Attendance Policy
Students are expected to adhere to the attendance requirements as outlined in the International University of Sarajevo Study Rules and Regulations. Excessive absences, whether excused or unexcused, may impact academic performance and eligibility for assessment. Mandatory sessions (e.g., labs, workshops) require attendance unless formally exempted. For detailed policies on absences, documentation, and penalties, please refer to the official university regulations.
Technology & AI Policy
Laptops/tablets may be used for note-taking only during lectures. Phones should be silenced and put away during all class sessions. Audio/video recording requires prior permission from the instructor.
Artificial Intelligence (AI) Usage: The use of AI tools (e.g., ChatGPT, Copilot, Gemini) varies by assessment component. Please refer to the AI usage indicator next to each assessment item in the Assessment Methods and Criteria section above. Submitting AI-generated content as your own work, where AI is not explicitly allowed, constitutes an academic integrity violation.
Communication Policy
All course-related communication should occur through official university channels (institutional email or SIS). Emails should include [ECON404] in the subject line.
Academic Quality Assurance Policy
Course Academic Quality Assurance is achieved through Semester Student Survey. At the end of each academic year, the institution of higher education is obliged to evaluate work of the academic staff, or the success of realization of the curricula.
Learning Tips
Be prepared to contribute thoughtfully during class discussions, labs, or collaborative work. Active participation deepens understanding and encourages critical thinking.
Complete assigned readings or prep materials before class. Take notes, highlight key ideas, and jot down questions. Aim to grasp core concepts and their applications—not just facts.
Use course frameworks or methodologies to analyze problems, case studies, or projects. Begin early to allow time for reflection and refinement. Seek feedback to improve your work.
Don’t hesitate to reach out when something is unclear. Use office hours, discussion boards, or peer networks to clarify concepts and stay on track.
Syllabus Last Updated on Feb 02, 2026 | International University of Sarajevo
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Referencing Curricula Print this page
| Course Code | Course Title | Weekly Hours* | ECTS | Weekly Class Schedule | ||||||
| T | P | |||||||||
| ECON404 | International Monetary System | 3 | 0 | 6 | ||||||
| Prerequisite | ECON112 | It is a prerequisite to | - | |||||||
| Lecturer | Azra Bičo | Office Hours / Room / Phone | ||||||||
| abico@ius.edu.ba | ||||||||||
| Assistant | Assistant E-mail | ssarajcic@ius.edu.ba | ||||||||
| Course Objectives | ECON404 is upper level course in international monetary system. This course develops students' theoretical and practical knowledge about International Monetary Regimes and applies it in attempt to gain an understanding of recent evevents in the international system and analyze the international and the domestic political contexts of International Monetary Regimes political. |
|||||||||
| Textbook | Krugman, R. Paul; Maurice Obstfeld and Marc J. Melitz. 2018. International Economics: Theory and Policy. Harlow: Pearson, Eleventh Edition, Pascal Salin, (2016). The International Monetary System and the Theory of Monetary Systems | |||||||||
| Additional Literature |
|
|||||||||
| Learning Outcomes | After successful completion of the course, the student will be able to: | |||||||||
|
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| Teaching Methods | The methods include lecturing, class discussions and presentation. | |||||||||
| Teaching Method Delivery | Face-to-face | Teaching Method Delivery Notes | ||||||||
| WEEK | TOPIC | REFERENCE | ||||||||
| Week 1 | Money and interest rates | Ch 15 Krugman, R. Paul; CH 5 Pascal | ||||||||
| Week 2 | Exchange rates in international monetary systems | Ch 15 Krugman, R. Paul; CH 6 Pascal | ||||||||
| Week 3 | International monetary systems | Ch 19 Krugman, R. Paul; CH 11 Pascal | ||||||||
| Week 4 | Fixed exchange rates and foreign exchange intervention | Ch 18 Krugman, R. Paul; CH 14 Pascal | ||||||||
| Week 5 | Quiz Exam, | All covered until week 4 | ||||||||
| Week 6 | The process of monetary transmission | Ch 14 Pascal | ||||||||
| Week 7 | MIDTERM EXAM | |||||||||
| Week 8 | International Monetary Equilibrium | Ch 16 Pascal | ||||||||
| Week 9 | Monetary policy and monetary crisis | Ch 22 Pascal | ||||||||
| Week 10 | Optimum currency areas | Ch 21 Krugman, R. Paul; Ch 23 Pascal | ||||||||
| Week 11 | European Monetary Union | Ch 21 Krugman, R. Paul; | ||||||||
| Week 12 | International monetary institutions | Lecture presentation | ||||||||
| Week 13 | Group project presentation | |||||||||
| Week 14 | Group project presentation | |||||||||
| Week 15 | Review for Final exam | |||||||||
| Assessment Methods and Criteria | Evaluation Tool | Quantity | Weight | Alignment with LOs | AI Usage |
| Final Exam | 1 | 40 | 1, 2, 3, 4, 5 | Not Allowed | |
| Semester Evaluation Components | |||||
| Mid-term exam | 1 | 25 | 1, 2, 3 | Not Allowed | |
| Project and Presentations | 1 | 20 | 3, 4, 5, 6 | Not Allowed | |
| Quiz | 1 | 15 | 1, 2 | Not Allowed | |
| *** ECTS Credit Calculation *** | |||||
| Activity | Hours | Weeks | Student Workload Hours | Activity | Hours | Weeks | Student Workload Hours | |||
| Lecture Hours | 3 | 14 | 42 | Project and Presentations | 6 | 1 | 6 | |||
| Class Participation | 6 | 8 | 48 | Home Study | 6 | 4 | 24 | |||
| Mid-term Exam Study | 10 | 1 | 10 | Final Exam Study | 14 | 1 | 14 | |||
| Quizz | 6 | 1 | 6 | |||||||
| Total Workload Hours = | 150 | |||||||||
| *T= Teaching, P= Practice | ECTS Credit = | 6 | ||||||||
| Course Academic Quality Assurance: Semester Student Survey | Last Update Date: 17/02/2026 | |||||||||