Global Business Environment
Fall 2005

Professor Nouriel Roubini
Office: KMC 7-83
Phone: (212) 998-0886

            Overview of the Course (ObjectivesTexbook and Materials RequirementsAssignments Office Hours and Tutorials Rules Important Dates Suggested Grade Distribution)

Reading List

"MBA Lectures in Macroeconomics" by Roubini and Backus 

Handouts Used in Class

Roubini Global Economics (RGE) Monitor Web Site


Links to Macroeconomic Data and Information

Hypertext Glossary of Business Cycle Indicators

Business Cycle Indicators


Interactive Charts and Graphs of Macroeconomic Series




Review and analysis of current global macroeconomic issues and events with an emphasis on the international aspects of macroeconomics, including:  interest rates and exchange rates; causes of trade and current account deficits; emerging market economies financial crises; causes of currency, banking and financial crises; and the globalization of financial markets. These topics are integrated into a theoretical framework that introduces international factors from the start. Examples from the US, Europe, Japan and emerging market economies are used to enhance knowledge of the world economy and skills in solving practical problems. Lectures are complemented with group projects.

This year we will make intensive use of the WEB and Internet resources as a learning tool in the course.

Textbook and Materials


On-line lectures notes: Nouriel Roubini and David Backus MBA Lectures in Macroeconomics, New York University, 2000.


David Miles and Andrew Scott, Macroeconomics and the Global Business Environment, Wiley Publishers, second edition, 2004.

We will also use the following materials in the course:

Readings and Case Studies (Singapore, Mexico) Package

The Miles-Scott textbook will be available in the bookstore. The Roubini and Backus "MBA Lectures in Macroeconomics" are available on-line at the course home page; a printed version can be bought at the bokstore. Note that the on-line version includes the links to other WEB materials that are missing in the printed version.  The readings and case studies package will be available in the bookstore. Let me also recommend very strongly The Economist, the best single source of international business news and commentary. A subscription to the print edition of The Economist also gives you full access to the Web edition of the magazine.  The on-line WEB version of the Financial Times is partly available for free to registered users.


Grades will be based on four assignments and the final examination according to the formula:
Assignments   30 percent
Mid-Term Exam
30 percent
Final Exam 40 percent

Class participation will be rewarded as part of the 30% of the grade that goes to the assignments.

Assignments (click here to download the assignments).

There are four assignments. The assignments should be done as part of a group. 

Office Hours and Tutorials

My office hours are Wednesday 4.00-5.30pm, or by appointment. I can also be reached through e-mail at
There will also be a Teaching Fellow for each section of the course, who you will find very helpful. He is Noe Valenzuela and his email is
His office hours will be announced in class and by email.


Blog/Discussion group

I have setup a  blog/discussion group where we can discuss the topics of the course outside of the classroom. I invite all the students in the class to actively participate in this online discussion forum. Part of the final grade will depend on class and blog participation.  We can share together ideas and information about interesting new articles on the WEB, discuss current policy issues and elaborate on materials presented in class.

Important Dates (TBA)

Assignment # 1 due in class: October 18th

Assignment # 2 due in class: November 8th

Mid-Term Exam in class: November 15th

Assignment # 3 due in class: November 29th

Assignment # 4 due in class: December 13th

Final Examination in class: December 20th

Suggested Grade Distribution

Although sections may vary somewhat, the Economics Department suggests a grade distribution of
A/A- 25-30%
B’s 55-65%
C & below  5%
This distribution is intended to make standards comparable across sections, as required by the school. 

Other Links and Information:

- The Stern School of Business Economics Department

- Nouriel Roubini's Home Page: