Open Economy Macroeconomics

The slide decks are the publisher's own Salvatore chapter decks, so about a third of the slides are nothing but a figure caption: the diagram is the content and it did not extract. Every named figure has therefore been reconstructed and described in words at the step that needs it, because the exam will ask the student to draw it. Compare each description against the figure in the deck or the textbook before the exam.

The student's own notes are the best source in this subject. Every chapter has a condensed ACTUAL NOTES file carrying the numbers the figures only show as pictures, and a long AS IT IS file close to a transcription of Salvatore. The notes supply content and the slides supply session order.

Two gaps in the Section A material. Chapter 15, Exchange Rate Determination, is skipped by the course, so purchasing power parity and the monetary approach appear here only where a later chapter needs them, and the purchasing-power-parity misalignment arithmetic in the present-monetary-system chapter is labelled as ours. Sessions 19 and 20 have no deck at all: they are delivered as a lecture plus a report or news article, so that chapter is built from the five current problems listed on the Chapter 21 present-and-future slides plus the student's notes, and every step that goes beyond them ends "Check against your class slides."

Readings taken off pictures are approximate and are flagged where they are used. In particular the Chapter 18 figures give BP points at (700, 5.0 %), (1,000, 6.5 %) and (1,500, 8 %), which are not exactly collinear, so where a numerical needs an exact BP slope the chapter states its own capital-flow sensitivity and says so.

Section B only: a purpose-written Marshall-Lerner and exchange-rate pass-through note built on India's 2025-26 external sector, with the full derivation from B* = P*x.Qx - P*m.Qm, the five assumptions, the deficit-country generalisation, a J-curve horizon table, three-stage Indian pass-through magnitudes, a PCP/LCP/DCP invoicing table, seven pass-through determinants, the composition rule that effective response equals elasticity times pass-through, ten formulae as decision rules, five fully solved numericals and a six-item likely-examination-questions list. There is no Section A equivalent, and it is the source of the pass-through and Marshall-Lerner numericals in the price adjustment chapter.

Section B only: the complete 40-slide Salvatore Chapter 16 deck, against Section A's 15-slide truncation. Only there: FIGURE 16-4 the identification problem, the Junz-Rhomberg five lags, a seven-slide gold-standard adjustment block, seven case studies and the whole appendix. The gold-standard arithmetic in the post-mid half rests on it: the gold contents of 113.0016 and 23.22 grains, the resulting mint parity of 4.87 dollars per pound, the 3 cent shipping cost that fixes the gold points at 4.84 and 4.90, the identity between gold flows and the size of the balance of payments, and the quantity theory MV = PQ.

Section B only: the Chapter 14 deck diverges from Section A's after slide 32, adding FIGURE 14-4 on covered interest arbitrage, three Eurocurrency and offshore market slides including Eurobonds, four case studies, and an appendix deriving the covered interest arbitrage parity formula. Section A instead appends the nine revision multiple-choice questions that Section B lacks, so the two decks are complements and both are cited.

Section B only: the 7 September 2026 "Pre-mid Materials" topic text, in which the professor calls the attachments "PPTs and numericals for the mid-semester examinations" and tells students to refer to the prescribed book. That is the only exam-format evidence either section produced.

Section B's ch13 deck is the same Salvatore Chapter 13 content in PowerPoint form and adds nothing; it is listed as Section B only because pptx bytes differ from pdf. Section B has no announcements and posted nothing for the post-mid half, so chapters 10 to 21 rest on Section A's Drive material alone.