156-0524/02 – Monetary Policy (MP)

Gurantor department	Department of Applied Economics	Credits	4
Subject guarantor	prof. Ing. Lumír Kulhánek, CSc.	Subject version guarantor	Ing. Emil Adámek, Ph.D.
Study level	undergraduate or graduate
		Study language	English
Year of introduction	2019/2020	Year of cancellation	2020/2021
Intended for the faculties	EKF	Intended for study types	Bachelor

Extent of instruction for forms of study
Form of study	Way of compl.	Extent
Full-time	Examination	2+0

Subject aims expressed by acquired skills and competences

Student will be able: - to explain role of the money in economy, - to define central bank and to describe its functions, goals and tools, - to understand inflation targeting - to explain role of CNB and ECB.

Teaching methods

Lectures
Tutorials
Project work

Summary

The subject deals with key areas of contemporary monetary theory and policy. It compares theories of money demand and money supply, including their implications for different monetary policy regimes. It clarifies approaches to the issue of the impact of money and monetary processes on expectations of economic subjects, price level, inflation, product and other macroeconomic variables. It analyses the monetary policy process, its objectives, tools and transmission mechanisms. Also, it provides an overview of monetary policy developments in the Czech Republic and the world, with an emphasis on current trends.

Compulsory literature:

MISHKIN, F. S. The Economics of Money, Banking, and Financial Markets. 10th ed. Harlow: Pearson, 2013. 726 s. ISBN 978-0-273-76573-8. CECCHETTI, S.G. Money, banking, and financial markets. 3rd ed. New York : McGraw-Hill/Irwin, 2011. 673 s. ISBN 978-0-07-122068-2.

Recommended literature:

HUBBARD, G. R. and A. P. O´BRIEN. Money, Banking, and the Financial System. 2nd ed. Boston : Pearson, 2014. 652 s. ISBN 978-1-292-00018-3. MISHKIN, F.S. Monetary policy strategy. Cambridge : MIT Press, 2007. 549 s. ISBN 978-0-262-13482-8. BOFFINGER, P. Monetary policy: goals, institutions, strategies, and instruments. Oxford: Oxford University Press, 2001. 454 s. ISBN 0-19-924856-7.

Way of continuous check of knowledge in the course of semester

Written exam

E-learning

Other requirements

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Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Money and its importance in the economy 2. Development of forms of money and the payment system. 3. Financial system and financial markets 4. Banking systems and banking history 5. Central Bank 6. Theoretical approaches to money demand 7. Money supply and creation of money 8. Theory of interest rates 9. Monetary policy objectives, criteria and indicators 10. Transmission mechanisms and monetary policy strategies 11. Monetary policy instruments 12. Inflation targeting and targeting money supply 13. European Central Bank 14. Financial crisis and monetary policy.

Conditions for subject completion

Conditions for completion are defined only for particular subject version and form of study

Occurrence in study plans

Academic year	Programme	Branch/spec.	Spec.	Zaměření	Form	Study language	Tut. centre	Year	W	S	Type of duty

Occurrence in special blocks

Block name	Academic year	Form of study	Study language	Year	W	S	Type of block	Block owner
Incoming students - bachelor study	2019/2020	Full-time	English				Choice-compulsory	163 - International Office	stu. block

Assessment of instruction

Předmět neobsahuje žádné hodnocení.