With the purpose of obtaining a better comprehension of the determining of the levels of economic activity, consumption, prices and other macroeconomic variables, the small open or dependent economies have developed adequate models which consider their specific characteristics, not taken into account in the schemes, usually found in macroeconomic text books. This article considers these dependent economies' models and shows their use when applying them to the macroeconomic effects, in Colombia, of an increase in the international price of coffee, its main exporting product.
