114-0377/01 – Monetary economics (MOE)
Gurantor department | Department of Economics | Credits | 5 |
Subject guarantor | prof. Ing. Zuzana Kučerová, Ph.D. | Subject version guarantor | prof. Ing. Zuzana Kučerová, Ph.D. |
Study level | undergraduate or graduate | Requirement | Compulsory |
Year | 1 | Semester | winter |
| | Study language | Czech |
Year of introduction | 2020/2021 | Year of cancellation | |
Intended for the faculties | EKF | Intended for study types | Follow-up Master |
Subject aims expressed by acquired skills and competences
Course provides students with the theoretical building blocks that are needed for an understanding of the monetary theory and contemporary monetary policy implementation. Student will be able: - to describe and explain the main channels of the monetary transmission mechanism, through which monetary policy can have real effects on the economy; - to explain conventional and nonconventional monetary policy; - to define monetary policy within and without monetary union; - to use modelling of monetary policy.
Teaching methods
Lectures
Tutorials
Summary
Subject Monetary Economics provides information about contemporary monetary economics. First, there is explained what is the role of money in market economy, how does modern monetary system look like, what are conventional tools of monetary policy and how transmission mechanisms work. Next, the course deals with unconventional tools of monetary policy, seigniorage and independence and transparency of central banks. In addition, topics such as monetary policy regimes, monetary policy uncertainty, prices of assets a financial stability are discussed in this course. Moreover, there is discussion about monetary policy within and out of monetary union. Finally, we analyse models of monetary policy and discuss actual questions related with monetary policy of the Czech National Bank.
Compulsory literature:
Recommended literature:
Additional study materials
Way of continuous check of knowledge in the course of semester
Students attend seminars and collect points to gain a credit.
Verification of the learning outcomes will be carried out in the form of a written exam.
E-learning
Other requirements
There are not further requirements.
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. Money and its role in economy
2. Demand for money
3. Supply of money
4. Interest rates
5. Central bank and its functions
6. Transmission mechanisms of monetary policy
7. Monetary policy, objectives and instruments, un/conventional MP
8. Monetary policy regimes
9. Monetary policy and exchange rate, interest rate parity
10. Exchange rate and output
11. Exchange rate regimes and monetary policy
12. Evolution of international monetary system
13. Balassa-Samuelson model
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction