156-0344/02 – Monetary Policy B (MP B)

Gurantor departmentDepartment of Applied EconomicsCredits3
Subject guarantorprof. Ing. Luboš Komárek, Ph.D. MBA M.Sc.Subject version guarantorprof. Ing. Luboš Komárek, Ph.D. MBA M.Sc.
Study levelundergraduate or graduateRequirementCompulsory
Year2Semesterwinter
Study languageCzech
Year of introduction2008/2009Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
KOM07 prof. Ing. Luboš Komárek, Ph.D. MBA M.Sc.
KUL20 prof. Ing. Lumír Kulhánek, CSc.
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

The student wil be able: - to interpret/answer all questions related to monetary policy, its theoretical basis and practical implementation; - to characterize monetary policy goals and tools 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

Summary

Monetary Policy B follows courses "Monetary Policy" and "Monetary Policy of Open Economy". Course is focused on advanced analysis of money, exchange rate and inflation in economy. Its purpouse is to deepen knowledge of monetary policy theory and transmision mechanism. Course discuss up-to-date tasks of monetary policy.

Compulsory literature:

MANDEL, M. - TOMŠÍK, V. Monetární ekonomie v malé otevřené ekonomice, 287 s. ISBN 200380-7261-094 -5 FRAIT, J. Mezinárodní peněžní ekonomie. 1996. ISBN 0-262-15047-6 KOMÁREK, L. Makroekonomické repetorium. Elektronická publikace

Recommended literature:

OBSTFELD, M. – ROGOFF, K. Foundations of International Macroeconomics. 1996. ISBN 0-262-15047-6

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:

Part I. “Theory of Monetary Policy” 1. Central Bank and its aggressiveness, Taylor rule, Taylor principle, Time inconsistency of Monetary Policy 2. Monetary Policy regimes – its advantages and disadvantages 3. The transmission mechanisms of Monetary Policy Part II. “Money and Monetary Policy” 4. Neutrality of Money 5. Money market gaps, relations of money and GDP 6. p*model Part III. “Exchange rate and Monetary Policy” 7. Advanced theories of exchange rate determination 8. Theories and models of balanced exchange rates (BEER, DARER, NATREX) 9. Real appreciation in long run (empirical evidence, theoretical substantiation) 10. Tradable and non-tradable goods in exchange rate models, TNT model, Dutch disease Part IV. “Contemporary tasks of Monetary Policy” 11. Monetary Policy and assets markets 12. Financial integration and monetary policy 13. Monetary policy and oil (commodities) 14. Unconventional Monetary Policy (Monetary Policy in low inflation periods)

Conditions for subject completion

Full-time form (validity from: 2009/2010 Winter 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.FormStudy language Tut. centreYearWSType of duty
2019/2020 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava 2 Compulsory study plan
2018/2019 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava 2 Compulsory study plan
2017/2018 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava 2 Compulsory study plan
2016/2017 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava 2 Compulsory study plan
2015/2016 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava 2 Compulsory study plan
2014/2015 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava 2 Compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava 2 Compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 2 Compulsory study plan
2012/2013 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 2 Compulsory study plan
2011/2012 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 2 Compulsory study plan
2010/2011 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 2 Compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 2 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner