International Monetary Theory & Policy


About The Field

The International Monetary Theory and Policy field focuses on the macroeconomic performance of countries that are integrated with the world economy both through trade in goods and services and through the exchange of assets. A central concern is the way in which world financial markets contribute to growth and development as well as serve as a means by which economic disruptions may be transmitted across national boundaries. Some of the issues addressed include exchange rate and financial crises like those in Asia and Latin America in the 1990s and, more recently, the worldwide crisis that began in 2008; the appropriate exchange rate regime, a question of particular interest for the euro area, but also for many emerging market and developing economies; the causes and consequences of large trade deficits and surpluses, an issue that often gives rise to political pressures for protectionism; and the appropriate role of international institutions like the IMF, especially in their actions during economic and financial crises. Courses in this field offer theories that give students frameworks for understanding issues, present recent and historical experiences that provide a context for the use of economic models, and statistical methods that enable students to use the theories and analyses for their own work.


Below is a representative portrait of curricular requirements for this Field of Study. Core requirements are subject to periodic updates and modifications; current Fletcher students should refer to the Registrar's Field of Study Guide for definitive requirements in a given academic year.

General Requirements
  • This field requires 4.5 credits even if you pass the E201: Introduction to Economic Theory Equivalency Exam.
  • Special Note regarding the three Economics Fields of Study:

  • All three Economics fields of study (International Trade and Commercial Policies, International Monetary Theory and Policy, and Development Economics) have a select group of core required courses, which include E201, as well as a field specific core required course, and one elective course credit. Together, they constitute a minimum package of economics knowledge allowing Fletcher students to use economic tools to reason analytically in their chosen domain.
  • If you pass the E201 Equivalency Exam, which waives the course, you are still obliged to complete the 4.5 credits required for all three Economics fields of study.
  • Some students seek to offer both of their fields of study for their degree in Economics, which requires the following:

  • Completion of E213: Econometrics, and
  • A minimum of seven Economic course credits more advanced than E201.
  • Note: Since some of the core required courses are the same among the different Economics Fields of Study, students pursuing both their fields of study in Economics are required to take more elective courses in one or both of their selected Economic fields of study.

    Core Requirements for the Field
    Example Elective Courses

    We encourage you to visit our course listings to get a better understanding of Fletcher, our curriculum, and our students.


    Emily Fall Fletcher
    Adebusola Laguda
    Masatsugu Nagato Japan Post Bank
    Emily Fall
    MIB 11
    Director, Bank & Institutional Capital

       Read Emily's story

    Adebusola Laguda
    MIB 11
    Vice President,
    State Street Bank

       Read Adebusola's story

    Masatsugu Nagato
    MALD 75
    President, Japan Post Bank

       Read Masatsugu's story

    Outside the Classroom

    • From Grexit to Grecovery: Is the Euro Crisis Over?
    • From Financial Crisis to Financial Stability: Have the seeds of the next crisis been laid?
    • Bridgewater Associates: Where Are We in the Global Economy?
    • IBGC Speaker Series: Javier Diaz, VP, Colombia Stock Exchange
    • The Changing Nature of International Capital Markets
    • Challenging Times: The Fed's Role in Today's Global Financial System
    • A Private Equity Primer for Emerging Markets: Trends, Challenges & Questions
    • Conference on Remittances and Development in Latin America
    • Opportunities and Pitfalls in Emerging Market Restructurings: A Strategic Perspective
      • Asian Development Bank - Manila, Philippines
      • Government of Singapore Investment Corporation - Singapore
      • Delegation of the European Union, Trade Division - Washington, DC
      • Overseas Private Investment Corporation (OPIC) - Washington, DC
      • U.S. Department of Commerce - Washington, DC
      • Citigroup, Investment Research Division - New York, NY
      • U.S. Liaison Office to the African Development Bank - Tunis, Tunisia
      • "The China Risk Index: A CAPM-Based Approach to Evaluating China Exposure 2004-2013"
      • "Early Warning Signals and Policy Responses to the U.S. Financial Crisis 2007-09"
      • ""Re-nationalization of the Oil and Gas Industry Under Vladimir Putin and How His Administration's Policies Affected Output n the Industry and Overall Economic Development"
      • "The Road Ahead for Asia & Latin America and the Caribbean: Outlook for Trade in Energy and Minerals"
      • "The Evolution of Chinese Bond Market: Return and Risk Analysis"
      • "Financial Integration in East Asia"
      • "Development of Domestic Bond Markets: A Comparison of Select East Asian and Latin American Countries"
      • "The High Cost of Borrowing: An Analysis of the Determinants of High Interest Rates in Brazil"
      • "Mobile Banking: Can Financial Services be Extended to Africa's Unbanked?"
      • Fletcher Finance Club
      • Fletcher Net Impact
      • International Business Club
      • Fletcher Political Risk Group
      • International Development Group
      • ASEAN Society
      • European Affairs Society
      • Latin America Group

      Learn From The Experts: Fletcher Faculty

      Michael Klein, William L. Clayton Professor of International Economic Affairs at The Fletcher School"The real strength of the Fletcher curriculum is that it enables you to study economic issues from a variety of perspectives, as taught by a number of professors."

      Michael Klein, William L. Clayton Professor of International Economic Affairs

      Other faculty with expertise in the field:

      Jenny Aker Lawrence Krohn Julie Schaffner
      Jenny Aker Lawrence Krohn Julie Schaffner