Professional Biography:


Born in Charlotte, North Carolina, Stanley W. Black graduated from the University of North Carolina at Chapel Hill with Honors in Economics in 1961. Subsequently, he received his Ph. D. in Economics from Yale University and taught first at Princeton University and then at Vanderbilt University. In 1983 he returned to the University of North Carolina as Georges Lurcy Professor of Economics, serving as Department Chairman from 1985 to 1990. His government experience has included service with the President's Council of Economic Advisers, the Federal Reserve Board, and the Department of State. He has been a visiting scholar or professor at the Institute of International Economics in Stockholm, the University of Siena, Yale University, the Brookings Institution, the International Monetary Fund, and was Bundesbank Visiting Professor at the Free University in Berlin in Summer 1997. From 1994 to 1997 he was nonresident Director of Economic Studies for the American Institute of Contemporary German Studies of the Johns Hopkins University in Washington, DC. Most recently, he was Senior Policy Advisor at the IMF Institute of the International Monetary Fund during 2000-2001. He became emeritus professor in 2008.


Dr. Black has worked primarily on problems of floating exchange rates and macroeconomic policy, especially the asset market theory of floating exchange rates with rational expectations. His work relates to the behavior of exchange rates, the international use of currencies, and European economic issues. His books include Floating Exchange Rates and National Economic Policy (1977), and most recently Europe's Economy Looks East(1997), Competition and Convergence in Financial Markets (1998) and Globalization, Technological Change, and Labor Markets (1998). Recent papers include “Fixing the Flaws in the Eurozone”,, Nov. 2010 and “The Portfolio Theory of Exchange Rates – Then and Now.” Rev.Int. Econ.23(2) 2015.  Further information about research and other activities can be found in his curriculum vitae.


Teaching Experience: graduate courses in international monetary economics and macroeconomics, and undergraduate courses in international economics, European economic integration, and macroeconomics.





This page gives access to Undergraduate Course Outlines and Recent Working Papers:


Course Pages:                                                                       


Econ 461


Econ 560



                                                            Working Papers:


The Relationship of the Exchange Risk Premium to Net Foreign Assets and Central Bank Intervention