120-0516/01 – EU Monetary Policy (EUMP)
| Gurantor department | Department of International Economic Relations | Credits | 5 |
| Subject guarantor | Ing. Kateřina Dvoroková, Ph.D. | Subject version guarantor | Ing. Kateřina Dvoroková, Ph.D. |
| Study level | undergraduate or graduate | Requirement | Choice-compulsory |
| Year | 1 | Semester | summer |
| | Study language | English |
| Year of introduction | 2012/2013 | Year of cancellation | 2020/2021 |
| Intended for the faculties | EKF | Intended for study types | Follow-up Master |
Subject aims expressed by acquired skills and competences
1. Define basic concepts of EU Monetary Policy
2. Explain major events relevant to the development of monetary cooperation in Europe
3. Evaluate the necessary preconditions for monetary integration in the EU
4. Analyze the current state of functioning of the European Monetary Union
5. Formulate perspective functioning of the European Monetary Union
6. Explain the main benefits of monetary integration in the EU
Teaching methods
Lectures
Seminars
Individual consultations
Summary
The aim of the course is to acquaint students with the major historical phases of the monetary integration proces in Europe and equip students with the theories underlying European Monetary Union. Topics covered include the institutional and legal framework of EU monetary policy, evaluation and debate on the main issues related to the launch of the euro and discussion the problem of fiscal politics coordination in monetary union. The course also deals with the
influence of the European Monetary Union on the Czech Republic and other accession countries. In the subject there will be discussed also the process of EU financial markets integration and the view from outside the euro area, i.e. its position in the global economy.
Compulsory literature:
Recommended literature:
Way of continuous check of knowledge in the course of semester
E-learning
LMS Moodle
Other requirements
Credit: Seminar work
Condition for taking the exam is obtaining a credit from seminars.
Conditions for obtaining credit are:
1. gaining total of at least 18 points
2. proper delivering of seminar work (max. 20 points)
3. presentation of a seminar work (max. 10 points)
4. presence at 5 seminars (active – at least 3 points)
During seminars students can obtain 0 – 35 points.
Exam: Written test
Written part comprises a test assessed by 0-65 points.
Student needs to gain at least 13 points from written part.
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. Origins and Development of European Monetary Integration
2. European Monetary System
3. The Theory of Optimum Currency Area
4. Formation of the European Monetary Union
5. Institutional Framework of the Common EU Monetary Policy
6. The ECB´s Monetary Policy Strategy
7. Monetary Policy Instruments of the ECB
8. Monetary and Fiscal Policy in Monetary Union
9. Institutional Framework of Fiscal Policy in EU
10. The Integration of Financial Markets in the EU
11. Impact of the Financial Crisis on the Convergence of the Czech Economy with the Euro Area Economy
12. The Treaty of Lisbon and Economic and Monetary Union
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction