156-0324/02 – Monetary Policy (MP)

Gurantor departmentDepartment of National EconomyCredits4
Subject guarantorprof. Ing. Lumír Kulhánek, CSc.Subject version guarantorprof. Ing. Lumír Kulhánek, CSc.
Study levelundergraduate or graduateRequirementChoice-compulsory
Year1Semesterwinter
Study languageCzech
Year of introduction2011/2012Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
ADA364 Ing. Emil Adámek, 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

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

A student must write several projects and to discuss the results during seminars. The task is defined in the LMS Moodle (individually for earch seminar). The finished project must be uploaded in the LMS Moodle till Sunday (before each seminar).

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. The history of banking institutions and the role of a central bank. 2. Money, functions of money, monetary aggregates. 3. Electronic money. 4. Financial system, financial markets, financial intermediation. 5. Money demand. 6. Money supply. 7. Interest rate theory. 8. Central banking. 9. Monetary policy tools. 10. Monetary policy goals, transmission mechanisms. 11. Inflation targeting. 12. Regulation and supervision of the banking system. 13. Capital requirements, Basel I, II and III. 14. Conclusions.

Conditions for subject completion

Full-time form (validity from: 2011/2012 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Exercises evaluation Credit 100 (100) 51
        Seminární práce Project 35  18
        Písemný test Written test 65  33
Mandatory attendence parzicipation:

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.FormStudy language Tut. centreYearWSType of duty
2018/2019 (N6208) Economics and Management (6208T011) Economics and Law in Business P Czech Ostrava 1 Choice-compulsory study plan
2018/2019 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava 1 Choice-compulsory study plan
2017/2018 (N6208) Economics and Management (6208T011) Economics and Law in Business P Czech Ostrava 1 Choice-compulsory study plan
2017/2018 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava 1 Choice-compulsory study plan
2016/2017 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava Choice-compulsory study plan
2015/2016 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava Choice-compulsory study plan
2014/2015 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava Choice-compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava Choice-compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava Choice-compulsory study plan
2012/2013 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava Choice-compulsory study plan
2011/2012 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava Choice-compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner