114-0477/01 – Monetary Economics (MOE)

Gurantor departmentDepartment of EconomicsCredits5
Subject guarantordoc. Ing. Zuzana Kučerová, Ph.D.Subject version guarantordoc. Ing. Zuzana Kučerová, Ph.D.
Study levelundergraduate or graduateRequirementCompulsory
Year1Semesterwinter
Study languageCzech
Year of introduction2020/2021Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
KUC20 doc. Ing. Zuzana Kučerová, Ph.D.
KUL20 prof. Ing. Lumír Kulhánek, CSc.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Part-time Examination 12+0

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

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:

CECCHETTI, Stephen G. a Kermit L. SCHOENHOLTZ. Money, Banking, and Financial Markets. 6th ed. New York: McGraw-Hill Education, 2021. ISBN 978-1-260-22678-2. MISHKIN. Frederic S. The Economics of Money, Banking, and Financial Markets. 12th ed. Harlow: Pearson Addison Wesley, 2019. ISBN 978-1-292-26885-9. VALDEZ, Stephen and Philip MOLYNEUX. An Introduction to Global Financial Markets. London: Palgrave, 2016. ISBN 978-1-137-49755-0.

Recommended literature:

KRUGMAN, Paul R., Maurice OBSTFELD a Marc J. MELITZ. International finance: theory & policy. 11th ed. Harlow: Pearson, 2018. ISBN 978-1-292-23873-9. MISHKIN, Frederic and Stanley G. EAKINS. Financial Markets and Institutions. 9th ed. Harlow: Pearson Education Limited, 2018. ISBN 978-0-13-451926-5. MOENJAK, Thammarak. Central Banking: Theory and Practice in Sustaining Monetary and Financial Stability. Singapore: Wiley, 2014. ISBN 978-1-118-83246-2.

Way of continuous check of knowledge in the course of semester

Verification of the learning outcomes will be carried out in the form of a combined exam. The combined exam consists of written and oral part.

E-learning

Other requirements

Verification of the learning outcomes will be carried out in the form of a combined exam. The combined exam consists of written and oral part.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. The role of money in economy 2. The nature of modern monetary system 3. Conventional monetary policy 4. Monetary policy transmission 5. Unconventional monetary policy 6. Seigniorage and the fiscal dominance problem 7. Central bank‘s independence, transparency and accountability 8. Monetary policy regimes (inflation targeting, monetary targeting, exchange rate targeting) 9. Monetary policy and exchange rates 10. Monetary policy under uncertainty 11. Monetary policy, asset prices and financial stability 12. Monetary policy inside/outside the monetary union 13. Models for monetary policy analysis 14. Monetary policy of the Czech National Bank

Conditions for subject completion

Part-time form (validity from: 2020/2021 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of pointsMax. počet pokusů
Examination Examination 100  51 3
Mandatory attendence participation: Compulsory lectures and seminars.

Show history

Conditions for subject completion and attendance at the exercises within ISP: Verification of the learning outcomes will be carried out in the form of a combined exam. The combined exam consists of written and oral part.

Show history

Occurrence in study plans

Academic yearProgrammeBranch/spec.Spec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2024/2025 (N0311A050012) Applied economics (S02) Economic Development APE K Czech Ostrava 1 Compulsory study plan
2023/2024 (N0311A050012) Applied economics (S02) Economic Development APE K Czech Ostrava 1 Compulsory study plan
2022/2023 (N0311A050012) Applied economics (S02) Economic Development APE K Czech Ostrava 1 Compulsory study plan
2021/2022 (N0311A050012) Applied economics (S02) Economic Development APE K Czech Ostrava 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner

Assessment of instruction

Předmět neobsahuje žádné hodnocení.