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## ECON 252: Chapter 15 Notes

by: Zach Weinkauf

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# ECON 252: Chapter 15 Notes ECON 252

Marketplace > Purdue University > Economcs > ECON 252 > ECON 252 Chapter 15 Notes
Zach Weinkauf
Purdue

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These notes Chapter 15 book notes.
COURSE
Macroeconomics
PROF.
Andres Vargas
TYPE
Class Notes
PAGES
1
WORDS
CONCEPTS
Economics, Macroeconomics
KARMA
25 ?

## Popular in Economcs

This 1 page Class Notes was uploaded by Zach Weinkauf on Saturday April 30, 2016. The Class Notes belongs to ECON 252 at Purdue University taught by Andres Vargas in Fall 2016. Since its upload, it has received 7 views. For similar materials see Macroeconomics in Economcs at Purdue University.

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Date Created: 04/30/16
Chapter 15: Open Economy Macroeconomics 15.1 – Exchange Rates  Nominal Exchange Rate – the rate at which one currency can be traded for another.  e = Units of foreign currency / 1 unit of domestic currency.  Flexible/Floating Exchange Rate – if the government does not intervene in the foreign exchange market.  Fixed Exchange Rate – if the government fixes a value for the exchange rate and intervenes to maintain that value.  Managed Exchange Rate – if the government intervenes actively to influence the exchange rate. 15.2 – The Foreign Exchange Market  Foreign Exchange Market – the global financial market in which currencies are traded and nominal exchange rates are determined. 15.3 – The Real Exchange Rate and Exports  Real Exchange Rate – the ratio of dollar price of a basket of goods and services in the United States, divided by the dollar price of the same basket of goods and services in a foreign country. 15.4 – GDP in the Open Economy  Y = C + I + G + X – M  E = ((Domestic Prices) x e)/Foreign Prices

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