156-0435/01 – Monetary Policy of Open Economy (MPOE)

Gurantor departmentDepartment of Applied EconomicsCredits4
Subject guarantordoc. Ing. Zuzana Kučerová, Ph.D.Subject version guarantordoc. Ing. Zuzana Kučerová, Ph.D.
Study levelundergraduate or graduateRequirementCompulsory
Year1Semestersummer
Study languageCzech
Year of introduction2007/2008Year 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
Part-time Credit and Examination 6+6

Subject aims expressed by acquired skills and competences

Student will be able: - to interpret/answer all questions related to monetary policy realized in the open economy, its theoretical basis and practical implementation; - to explain bilateral linkages between GDP, exchange rate, inflation rate, money market interest rate etc.; - to characterize particular exchange rate regimes; - to critically assess the European process of monetary integration; - to make conclusions concerning practical monetary policy implementation in the open economy and its impact on the economy (and other macroeconomic policies).

Teaching methods

Lectures
Tutorials
Project work

Summary

The course is a continuation of preceding the course "Monetary Policy". The contents will be focused on particular on the problems of monetary policy in an open economy.

Compulsory literature:

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Recommended literature:

KRUGMAN, P. R., M. OBSTFELD and J. MELITZ. International Economics: Theory and Policy. 9th ed. Harlow: Pearson Addison-Wesley, 2012. ISBN 978-0-273-75409-1. MISHKIN, F. S. The Economics of Money, Banking, and Financial Markets. 10th ed. Harlow: Pearson, 2012. ISBN 978-0-273-76585-1.

Way of continuous check of knowledge in the course of semester

Five written project and discussion in seminars, evaluation in the form of credits.

E-learning

Other requirements

Lectures and seminars are compulsory.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Introduction. 2. Exchange rate regimes, fixed and floating regimes. 3. Currency board. 4. Dollarization. 5. Exchange rate theory, interest rate parity. 6. Output and exchange rate in the short run, DD-AA model. 7. DD-AA model and fixed exchange rate regime, interventions. 8. Law of one price, purchasing power theory, Balassa-Samuelson model. 9. International monetary system, Bretton-Woods system. 10. European monetary integration. 11. Optimum currency area theory - traditional version. 12. Optimum currency area theory - modern version.

Conditions for subject completion

Part-time form (validity from: 1960/1961 Summer semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of pointsMax. počet pokusů
Exercises evaluation and Examination Credit and Examination 100 (100) 51 3
        Exercises evaluation Credit 35 (35) 0 3
                Other task type Other task type 35  0 3
        Examination Examination 65 (65) 0 3
                Oral Oral examination 65  0 3
Mandatory attendence participation:

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Conditions for subject completion and attendance at the exercises within ISP:

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Occurrence in study plans

Academic yearProgrammeBranch/spec.Spec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2009/2010 (N6202) Economic Policy and Administration (6202T027) National Economy (02) National Economy K Czech Ostrava 1 Compulsory study plan
2008/2009 (N6202) Economic Policy and Administration (6202T027) National Economy (02) National Economy K Czech Ostrava 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner

Assessment of instruction

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