This book has been designed as a full fledged course for graduate (or advanced undergraduate) students in International Economics or Open Economy Macro. Indeed, it’s tailor made for a first or second year course in any Masters or PhD program in Economics. The book is also an extremely helpful tool for policymakers in charge of designing monetary, exchange rate and finance policies in small open economies. The author has a Masters degree in Economics from Universidad de Los Andes and a PhD degree in Economics from UCLA. He has taught several courses in Economics for graduate and undergraduate students at Universidad Sergio Arboleda, Universidad de Los Andes, UCLA, Universidad Católica de Colombia, EAFIT, and Universidad Javeriana. He has worked in Colombia in Banco de la República, Ministry of Finance and Ministry of Agriculture. He has also worked at the IMF and recently published the book “La Nueva Economía Colombiana”.