Economics (ECON) 476

International Finance (Revision 8)

ECON 476 course cover

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Delivery Mode: Individualized study online (with eTextbook)

Credits: 3

Area of Study: Social Science. ECON 476 can be used as Applied Studies (Business and Administrative Studies) by credential students only.

Prerequisite: ECON 358

Centre: Faculty of Business

ECON 476 has a Challenge for Credit option.

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Welcome to Economics 476, a three–credit, senior–level course in economics at Athabasca University. This course, International Finance, which is relatively broad in scope, should provide you with a firm grasp of the topical issues in the world of international finance. The course is divided into nine units, with each unit serving a distinct purpose, and covering topics that range from balance of payments to economic policies to the International Monetary System.

In recent years, there have been significant changes in the macroeconomies of various countries, with new trade agreements and the process of globalization driving the structural changes. In addition to providing you with a theoretical framework in which to investigate these issues, this course examines several proposals aimed at reforming the International Monetary System. If any of these proposals were to be implemented, their effects would be felt by every one of us. This course provides you with some of the tools that you, as an economist, might need to thrive in the new global economy.


The course material is divided into nine study units. These units are as follows:

  • Unit 1: The Balance-of-Payments Accounts
  • Unit 2: The Foreign Exchange Market
  • Unit 3: The Monetary and Portfolio Approaches to External Balance
  • Unit 4: Price Adjustments and Balance-of-Payments Disequilibrium
  • Unit 5: Economic Policy under Fixed Exchange Rates
  • Unit 6: Economic Policy under Flexible Exchange Rates
  • Unit 7: Aggregate Demand and Aggregate Supply in the Open Economy
  • Unit 8: The Choice of Fixed or Flexible Exchange Rates
  • Unit 9: The International Monetary System


Your final grade in Economics 476 will be based on your performance on three quizzes, two assignments, and a final examination. The passing grade for the Final Examination is D (50 percent). You must also achieve an overall course grade of at least D (50 percent). The weighting of each assessment activity is indicated in the table below.

Activity Weighting When to Complete
Quiz 1 5% after Unit 2
Quiz 2 5% after Unit 5
Assignment 1 20% after Unit 5
Quiz 3 5% after Unit 9
Assignment 2 20% after Unit 9
Final Exam 45% after Unit 9
Total 100%

In response to COVID-19 containment directives, temporary online exam(s) are available for this course.

To learn more about assignments and examinations, please refer to Athabasca University's online Calendar.

Course Materials


Registration in this course includes an electronic textbook. For more information on electronic textbooks, please refer to our eText Initiative site.

Appleyard, D. R., & Field, A. J., Jr. (2017). International economics (9th ed.). New York: McGraw-Hill/Irwin. (ISBN 9781259693762)

A print version of the eText may be available for purchase from the publisher through a direct-to-student link provided on the course website; you can also acquire the textbook on your own if you wish.

Other Resources

All other learning resources will be available online.

Challenge for Credit Overview

The Challenge for Credit process allows you to demonstrate that you have acquired a command of the general subject matter, knowledge, intellectual and/or other skills that would normally be found in a university-level course.

Full information about Challenge for Credit can be found in the Undergraduate Calendar.

Challenge Evaluation

To receive credit for the ECON 476 challenge registration, you must achieve a grade of at least 50 per cent on the examination.

Paper Exam (3 hours)

Undergraduate Challenge for Credit Course Registration Form

Athabasca University reserves the right to amend course outlines occasionally and without notice. Courses offered by other delivery methods may vary from their individualized-study counterparts.

Opened in Revision 8, August 20, 2018.

View previous syllabus