Assess students' ability to evaluate the effectiveness and distributional trade-offs of macroprudential and unconventional monetary policies in small open economies experiencing sovereign–bank feedback loops. Scope includes identification of relevant tools (e.g., capital buffers, LTV, FX/FX reserve rules, QE, negative/targeted rates), key transmission channels (credit, sovereign risk premia, exchange rates, capital flows), empirical and model-based evaluation methods (DSGE/stress tests/event studies), measurement of welfare and distributional impacts across households, banks, and the sovereign, and formulation of coordinated policy recommendations under cross-border constraints.