114-0555/01 – Real-world monetary policy (RMP)

Gurantor departmentDepartment of EconomicsCredits5
Subject guarantordoc. Dr. Ing. Jan LibichSubject version guarantordoc. Dr. Ing. Jan Libich
Study levelundergraduate or graduateRequirementChoice-compulsory
YearSemesterwinter
Study languageEnglish
Year of introduction2013/2014Year of cancellation2016/2017
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
LIB009 doc. Dr. Ing. Jan Libich
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit and Examination 2+1

Subject aims expressed by acquired skills and competences

The main objective is to provide students with tools to independently evaluate and contribute to real world MP. Therefore, discussion will be an essential part of the tutorials, and to some extent lectures as well. Also, there will be an assignment for every tutorial that will be be discussed by the students in groups in the tutorial, then presented to the class.

Teaching methods

Lectures
Tutorials

Summary

Compulsory literature:

Blinder, Alan, ‘Central Banking in Theory and Practice’, The MIT Press, 1998.

Recommended literature:

Bofinger, Peter, ‘Monetary Policy: Goals, Institutions, Strategies, and Instruments’, Oxford University Press, 2001

Way of continuous check of knowledge in the course of semester

E-learning

Další požadavky na studenta

ASSESSMENT: Zápočet: Tutorial component 25 points (written assignments 15 points + participation/presentations 10 points) & one-hour written mid-term examination 25 points (short answer questions similar in structure and content to those in the tutorial assignments). To pass you need at least 25 points. Zkouška: A two hour written final exam 50 points (the same structure as the midterm exam, again no surprises, so if you have done the assignments you should do well on the exam). To pass you again need at least 25 points. The overall mark for the subject (out of 100 points) will be the sum of the three assessment components.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

LECTURE TOPICS: 1. Review of main macroeconomic concepts and relationships 2. Overview of central banking and MP goals 3. MP instruments and transmission mechanisms 4. Simple (New Keynesian) model of optimal MP 5. Data analysis using the MP simulation game 6. Game theory and macroeconomics 7. The interaction of fiscal and monetary policy 8. Institutional framework of MP: Central bank independence, transparency, and accountability 9. Open economy MP, optimal currency areas and monetary unions 10. The Global Financial Crisis

Conditions for subject completion

Full-time form (validity from: 2013/2014 Winter semester, validity until: 2016/2017 Summer semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Exercises evaluation and Examination Credit and Examination 100 (100) 51
        Exercises evaluation Credit 35  0
        Examination Examination 65  0
Mandatory attendence parzicipation:

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.FormStudy language Tut. centreYearWSType of duty
2016/2017 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 2 Choice-compulsory study plan
2016/2017 (N6202) Economic Policy and Administration (6202T040) Regional Development P Czech Ostrava Choice-compulsory study plan
2016/2017 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava Choice-compulsory study plan
2015/2016 (N6202) Economic Policy and Administration (6202T040) Regional Development P Czech Ostrava 2 Choice-compulsory study plan
2015/2016 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava Choice-compulsory study plan
2015/2016 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 2 Choice-compulsory study plan
2014/2015 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 2 Choice-compulsory study plan
2014/2015 (N6202) Economic Policy and Administration (6202T040) Regional Development P Czech Ostrava Choice-compulsory study plan
2014/2015 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava Choice-compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava Choice-compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6202T040) Regional Development P Czech Ostrava Choice-compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 2 Choice-compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6202T010) Finance (00) Finance P Czech Ostrava 2 Choice-compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6202T040) Regional Development (00) Regional Development P Czech Ostrava Choice-compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava Choice-compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner