INTERNATIONAL MONEY: Theory, Evidence and Institutions 1. Introduction 2. Basic exchange rate concepts and some early balance of payments analysis 3. Macroeconomics in an open economy 4. Purchasing power parity: theory and evidence 5. The monetary approach to the balance of payments 6. The monetary view of exchange rate determination 7. The portfolio balance approach to the determination of the exchange rate 8. The efficient markets hypothesis, spot and forward exchange rates and the role new information in foreign exchange markets 9. Recent international monetary arrangements 10. The Eurocurrency system 11. The IMF and the Third World 12. International Debt 13. The European Monetary System