114-0577/04 – Monetary Economics (MOE)

Gurantor department	Department of Economics	Credits	4
Subject guarantor	doc. Ing. Zuzana Kučerová, Ph.D.	Subject version guarantor	doc. 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

Instruction secured by
Login	Name	Tuitor	Teacher giving lectures
KUC20	doc. Ing. Zuzana Kučerová, Ph.D.

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

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:

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 midterm test and final test.

E-learning

Other requirements

Verification of the learning outcomes will be carried out in the form of a midterm test and final test. Students can gain some credits for their active participation on lectures.

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 14. Financial crises

Conditions for subject completion

Full-time form (validity from: 2020/2021 Winter semester)

Task name	Type of task	Max. number of points (act. for subtasks)	Min. number of points	Max. počet pokusů
Examination	Examination	100	51	3

Mandatory attendence participation: Lectures and seminars are voluntary.

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 idterm test and final test.

Show history

Valid from	Valid until	Conditions for subject completion and attendance at the exercises within ISP
May 11, 2023 2:07:08 PM	May 11, 2023 2:09:34 PM	...

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- MS	2021/2022	Full-time	English				Choice-compulsory	163 - International Office	stu. block

Assessment of instruction

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