In 1998 Rüdiger Dornbusch gave the Munich Lectures in Economics entitled International Financial Crises. The CES Academic Council awarded him the prize and title Distinguished CES Fellow for his outstanding work on the monetary theory of foreign trade.Rüdiger Dornbusch passed away on July 25, 2002, before he was able to finalize the manuscript of his most stimulating and thought-provoking lectures. The manuscript was scheduled to appear in the CESifo book series with MIT Press. This working paper contains the introduction which was distributed at the lectures. CES would like to make this document available to the scientific community. There is a video presentation of the lectures on the CES website (www.CESifo.de), and a leaflet is also available with the introductory speech by Stanley Fisher.