120-0516/03 – EU Monetary Policy (EUMP)

Gurantor departmentDepartment of European IntegrationCredits4
Subject guarantorIng. Kateřina Dvoroková, Ph.D.Subject version guarantorIng. Kateřina Dvoroková, Ph.D.
Study levelundergraduate or graduate
Study languageEnglish
Year of introduction2016/2017Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
DVO37 Ing. Kateřina Dvoroková, Ph.D.
KUC20 doc. Ing. Zuzana Kučerová, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Examination 2+0

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

Individual consultations


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:

BALDWIN, Richard and Charles WYPLOSZ. The Economics of European Integration. New York: McGraw Hill, 2009. ISBN 978-0-077-12163-1. De GRAUWE, Paul. Economics of Monetary Union. New York: Oxford University Press, 2009. ISBN 978-0-19-956323-4. EICHENGREEN, Barry. Globalizing capital: a history of the international monetary system. New Jersey: Princeton University Press, 2008. ISBN 978-0-691-13937-1.

Recommended literature:

DYSON, Kenneth and Martin MARCUSSEN. Central Banks in the Age of the Euro: Europeanization, Convergence and Power. Oxford: Oxford University Press, 2009. ISBN 978-0-19-921823-3. FUHRER, Jeffrey C. Understanding Inflation and the Implications for Monetary Policy: A Phillips Curve Retrospective. Cambridge, MA: MIT Press, 2009. ISBN 978-0-262-01363-5. HIERONYMI, Otto. Globalization and the Reformo f the International Banking and Monetary System. Basingstoke: Palgrave Macmillan, 2009. ISBN 978-0-230-23530-4.

Way of continuous check of knowledge in the course of semester


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. Midterm exam: Written test Written part comprises a test assessed by 0-50 points. Student needs to gain at least 26 points from written part.


Subject has no prerequisities.


Subject has no co-requisities.

Subject syllabus:

1. Course Introduction 2. Origins and Development of European Monetary Integration 3. European Monetary System 4. The Theory of Optimum Currency Area 5. Formation of the European Monetary Union 6. Institutional Framework of the Common EU Monetary Policy 7. The ECB´s Monetary Policy Strategy 8. Monetary Policy Instruments of the ECB 9. Monetary and Fiscal Policy in Monetary Union 10. Institutional Framework of Fiscal Policy in EU 11. The Integration of Financial Markets in the EU 12. Monetary Policy of non Euro Area States 13. Real and Nominal Convergence of EU Economies 14. EMU and Euro Position in the World Economy

Conditions for subject completion

Full-time form (validity from: 2016/2017 Summer semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Examination Examination 100  51
Mandatory attendence parzicipation:

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner
Incoming students - master study 2019/2020 Full-time English Choice-compulsory 163 - International Office stu. block
Incoming students - master study 2018/2019 Full-time English Choice-compulsory 163 - International Office stu. block
Incoming Students 2017/2018 Full-time English Choice-compulsory 163 - International Office stu. block
Incoming Students 2016/2017 Full-time English Choice-compulsory 163 - International Office stu. block