156-0324/01 – Monetary Policy (MP)

Gurantor departmentDepartment of National EconomyCredits4
Subject guarantorprof. Ing. Lumír Kulhánek, CSc.Subject version guarantordoc. Ing. Zuzana Kučerová, Ph.D.
Study levelundergraduate or graduate
Study languageCzech
Year of introduction2003/2004Year of cancellation2011/2012
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
KUC20 doc. Ing. Zuzana Kučerová, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit and Examination 2+1

Subject aims expressed by acquired skills and competences

The student wil be able: - to interpret/answer all questions related to monetary policy, its theoretical basis and practical implementation; - to characterise monetary policy objectives and instruments and explain its functioning, describe principles and types of transmission mechanisms; - to differentiate between monetary policy implementation in various transmission mechanisms; - to explain the monetary policy decision process of central bankers; - to make conclusions concerning the practical implementation of monetary policy and its impact on the economy (and other macroeconomic policies); - to defend or criticize basic steps of monetary policy realized in the Czech Republic.

Teaching methods

Lectures
Tutorials
Project work

Summary

TThe course is focused on the role of money in the economy, on the monetary policy and the role of central banks. The content of the course is focused on the history of banking institutions and money, theory of money demand and supply and the theory of interest rate, on the implementation of monetary policy and its role in the system of macroeconomic policies. Students are also informed about the current implementation of monetary policy and central banking, the regulation and supervision of the banking system and its current state in the Czech Republic and abroad including the capital requirements directives Basel.

Compulsory literature:

MISHKIN, F. S. The Economics of Money, Banking, and Financial Markets. 10th ed. Harlow: Pearson, 2012. ISBN 978-0-273-76585-1.

Recommended literature:

HANDA, J. Monetary Economics. 2nd ed. London: Routledge, 2009. ISBN 978-0-415-77210-5. MOENJAK, Thammarak. Central banking: theory and practice in sustaining monetary and financial stability. Singapore: Wiley, 2014. ISBN 978-1-118-83246-2. ROTHBARD, Murray Newton. The mystery of banking. 3rd ed. Eastbourne: Terra Libertas, 2011. ISBN 978-1-908089-31-1.

Way of continuous check of knowledge in the course of semester

E-learning

Další požadavky na studenta

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Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Money, functions of money, monetary aggregates. 2. Electronic money. 3. Financial system, financial markets, financial intermediation. 4. Money demand. 5. Money supply. 6. Interest rate theory. 7. Central banking. 8. Monetary policy tools. 9. Monetary policy goals, transmission mechanisms. 10. Inflation targeting. 11. European monetary policy, ESCB, ECB, monetary policy tools. 12. Regulation and supervision of the banking system.

Conditions for subject completion

Full-time form (validity from: 1960/1961 Summer semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Exercises evaluation and Examination Credit and Examination 100 (100) 51
        Exercises evaluation Credit 35 (35) 0
                Other task type Other task type 35  0
        Examination Examination 65 (65) 0
                Oral Oral examination 65  0
Mandatory attendence parzicipation:

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.FormStudy language Tut. centreYearWSType of duty
2010/2011 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava 1 Choice-compulsory study plan
2010/2011 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava 2 Choice-compulsory study plan
2010/2011 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6202) Economic Policy and Administration (6202T055) Public Economics and Administration (00) Public Economics and Administration P Czech Ostrava 1 Choice-compulsory study plan
2010/2011 (N6202) Economic Policy and Administration (6202T055) Public Economics and Administration (00) Public Economics and Administration P Czech Ostrava 2 Choice-compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6202T055) Public Economics and Administration (00) Public Economics and Administration P Czech Ostrava 1 Choice-compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6202T055) Public Economics and Administration P Czech Ostrava 1 Choice-compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6202T055) Public Economics and Administration (00) Public Economics and Administration P Czech Ostrava 2 Choice-compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6202T055) Public Economics and Administration P Czech Ostrava 2 Choice-compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava 1 Choice-compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava 2 Choice-compulsory study plan
2008/2009 (B6202) Economic Policy and Administration (6202R040) Regional Development P Czech Ostrava 3 Choice-compulsory study plan
2008/2009 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava 1 Choice-compulsory study plan
2008/2009 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava 2 Choice-compulsory study plan
2008/2009 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 1 Compulsory study plan
2008/2009 (N6202) Economic Policy and Administration (6202T055) Public Economics and Administration P Czech Ostrava 1 Choice-compulsory study plan
2007/2008 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava 1 Choice-compulsory study plan
2007/2008 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava 2 Choice-compulsory study plan
2007/2008 (M6202) Economic Policy and Administration (6210T004) European Integration (01) European Integration P Czech Ostrava 5 Choice-compulsory study plan
2007/2008 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 1 Compulsory study plan
2006/2007 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 1 Compulsory study plan
2006/2007 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava Choice-compulsory study plan
2006/2007 (M6202) Economic Policy and Administration (6210T004) European Integration (01) European Integration P Czech Ostrava Choice-compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner