154-0348/05 – Monetary Theory and Policy (MTaP)

Gurantor departmentDepartment of FinanceCredits3
Subject guarantorprof. Ing. Lumír Kulhánek, CSc.Subject version guarantorprof. Ing. Lumír Kulhánek, CSc.
Study levelundergraduate or graduateRequirementCompulsory
Year2Semesterwinter
Study languageCzech
Year of introduction2015/2016Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
DVO37 Ing. Kateřina Dvoroková, Ph.D.
KUL20 prof. Ing. Lumír Kulhánek, CSc.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit 2+1

Subject aims expressed by acquired skills and competences

Aim of the course is to learn students the abilities to conduct monatary analysis in the light of the present monetary theory and practical monetary policy by employing fundamental concepts and knowledge of monetary economy. Students will be able: - to classify monetary policies, - to compare assumptions and conclusions of the main theretical approaches, - to discuss the effects of the changes in monetary variables on macroeconomic system, - to formulate problems of monetary policy in closed and open economy, - to evaluate theorethical recommendations for monetary policy and their implications, - to estimate effects of the applied monetary tools in closed and open economy.

Teaching methods

Lectures
Tutorials

Summary

The course if focused on key areas of present monetary economy and policy. It presents and compares types of money demand and supply, including implications for different strategies of monetary policy, explains approaches of the theory of moeny impact and monetary processes on price level, inflation, product and other macroeconomics variables. Moreover, monetary policy process is deeply analyzed, aims, tools and transmission mechanism of central bank monetary policy is studied. The course also provides evolution of monetary policy in the Czech Republic and in the world with attention paid to 90s and necessity of perspective adaptation.

Compulsory literature:

MISHKIN, F.S.(2012). Economics of Money, Banking, and Financial Markets. 10th edition. Prentice Hall. ISBN 978-0132770248. MISHKIN, F.S., EAKINS, S. (2014). Financial Markets and Institutions.8th edition. Prentice Hall. ISBN 978-0133423624.

Recommended literature:

MISHKIN, F.S.(2012). Economics of Money, Banking, and Financial Markets. 10th edition. Prentice Hall. ISBN 978-0132770248. MISHKIN, F.S., EAKINS, S. (2014). Financial Markets and Institutions.8th edition. Prentice Hall. ISBN 978-0133423624.

Way of continuous check of knowledge in the course of semester

E-learning

Další požadavky na studenta

No other requirements on students.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Money and credits in economy 2. Theory of money demand 3. Theory of money supply 4. Interests rates in economy 5. Central bank 6. Transmission of monetary impulses 7. Monetary policy strategy 8. Transmission mechanism of monetary policy 9. Inflation targeting and money base targeting 10. Money, price level and inflation 11. Inflation expectations and monetary policy efficiency in IS-LM model 12. Monetary policy in open economy 13. Monetary policy of selected central banks 14. Financial innovations and monetary policy

Conditions for subject completion

Full-time form (validity from: 2015/2016 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Credit Credit 85  85
Mandatory attendence parzicipation:

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.FormStudy language Tut. centreYearWSType of duty
2019/2020 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 2 Compulsory study plan
2018/2019 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 2 Compulsory study plan
2017/2018 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 2 Compulsory study plan
2016/2017 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 2 Compulsory study plan
2015/2016 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 2 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner