114-0577/02 – Monetary Economics (MOE)
| Gurantor department | Department of Economics | Credits | 3 |
| Subject guarantor | prof. Ing. Zuzana Kučerová, Ph.D. | Subject version guarantor | prof. Ing. Zuzana Kučerová, Ph.D. |
| Study level | undergraduate or graduate | | |
| | Study language | English |
| 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 in open economy.
Teaching methods
Lectures
Tutorials
Summary
Course 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. Then, we analyse monetary policy of the Czech National Bank, European Central Bank, Federal Reserve System and other central banks. Last but not least, the course focuses on monetary policy in open economy environment, topics such as monetary policy and exchange rate regimes are also discussed. Finally, there is discussion about monetary policy within and out of monetary union.
Compulsory literature:
Recommended literature:
Additional study materials
Way of continuous check of knowledge in the course of semester
Students gain knowledge at lectures to pass a written credit test.
Verification of the learning outcomes will be carried out in the form of a written exam at the end of the semestr. Students have to register in the Edison system.
E-learning
Other requirements
There are not further requirements.
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. The role of money in economy
2. Demand for money
3. Supply of money
4. Interest rates
5. Central bank ant its functions
6. Monetary policy transmission
7. Monetary policy, objectives and instruments, un/conventional MP
8. Monetary policy regimes (inflation targeting, monetary targeting, exchange rate targeting)
9. Monetary policy and exchange rate, interest rate parity
10. Exchange rate and output
11. Exchange rate regimes and monetary policy
12. Monetary integration and monetary policy inside/outside the monetary union
13. Balassa-Samuelson model
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction