This course develops the essential basis for a solid understanding of International Macroeconomics. A great variety of topics that have been the subject of intense debate throughout the history of the economics discipline are discussed in the course. To be more specific, it first analyzes the foreign exchange market. Next, it discusses the monetary and asset approaches to the determination of the exchange rates. Then, it presents the balance of payments accounts and the extension of the IS-LM framework to open macroeconomics. Afterward, it describes the regimes of fixed and flexible exchange rates. Lastly, it concludes with a discussion of the mechanics for the implementation of a fixed exchange rate regime and of the fundamental explanations of how it may break.