Biography of the Professor
Wioletta Nowak is an assistant professor at the Institute of Economic Sciences at the Faculty of Law, Administration and Economics of the University of Wroclaw, Poland. She has a MSc in theoretical physics and a MA in philosophy from University of Wroclaw, and PhD in economics from the former Higher School of Economics in Wroclaw (Wroclaw University of Economics today). Her research interests span mathematical economics, economic growth, economic development and international economics. She is (co)author of 5 books and over 60 papers.

Requirements for passing a course
Written exam, five questions from the list below, to pass a student needs 50%, for B – 70% and 90% for A.

Exam questions
1. The Mundell-Fleming model and effectiveness of monetary and fiscal policy 
2. Components and determinants of balance of payments 
3. Equilibrium, disequilibrium and adjustment in balance of payments 
4. International parity concepts, purchasing power parity, Fisher effect, international Fisher effect, interest rate parity 
5. Determination of exchange rates 
6. Interest rate effect on exchange rate, inflation rate effect on exchange rate 
7. Exchange rate regimes (hard pegs, soft pegs, floating arrangements) 
8. International currencies and global exchange reserves 
9. Foreign exchange markets 
10. Evolution of international monetary systems (gold standard, the Bretton Woods system, the post Bretton Woods system) 
11. Criteria, costs and benefits of optimum currency areas 
12. Evolution of the theory of optimum currency area 
13. International capital flows. Regulations over international capital flows 
14. External debt – causes and effects 
15. External debt in developing economies 
16. Financial programming of IMF 
17. Emerging markets, capital flows and capital controls 
18. Crises episodes of advanced and emerging market economies

Sources
1. Lecture notes https://prawo.uni.wroc.pl/user/12141/students-resources
2. Krugman P., Obstfeld M., International Economics: Theory and Policy, 7th Edition, Addison-Wesley-Longman, 2005.