156-0535/03 – Monetary Policy of Open Economy (MPOE)
| Gurantor department | Department of Applied Economics | Credits | 4 |
| Subject guarantor | prof. Ing. Lumír Kulhánek, CSc. | Subject version guarantor | prof. Ing. Lumír Kulhánek, CSc. |
| Study level | undergraduate or graduate | Requirement | Compulsory |
| Year | 1 | Semester | summer |
| | Study language | English |
| Year of introduction | 2017/2018 | Year of cancellation | 2020/2021 |
| Intended for the faculties | EKF | Intended for study types | Follow-up Master |
Subject aims expressed by acquired skills and competences
Student will be able:
- to understand conventional and nonconventional monetary policy
- to explain exchange rate
- to define monetary policy within and without monetary union
- to use modelling of monetary policy
Teaching methods
Lectures
Tutorials
Project work
Summary
Subject Monetary Economics provides information about modern monetary economics. First, there is explained what is the role of money in market economy, how does modern monetary system look like, what are conventional tools of monetary policy and how transmission mechanisms work. Next, the course deals with unconventional tools of monetary policy, seigniorage and independence and transparency of central banks. Also, topics such as monetary policy regimes, monetary policy uncertainty, prices of assets a financial stability are discussed in this course. Moreover, there is discussion about monetary policy within and out of monetary union. Finally, we analyse models of monetary policy and discuss actual questions related with monetary policy of CNB.
Compulsory literature:
WALSH, C. E. Monetary Theory and Policy. 4th Ed. Cambridge: MIT Press, 2017. 661 s. ISBN: 978-0-262-03581-1.
MAHADEVA L., STERNE G. Monetary policy framework in a global context. London: Routledge, 2000. 688 s. ISBN: 0-415-22618-X.
Recommended literature:
O'BRIEN, D. P. The development of monetary economics: a modern perspective on monetary controversies. Cheltenham: Edward Elgar Publishing, 2007. 265 s. ISBN: 978-1-84720-260-4.
CLAASSEN, E.-M. Global monetary Economics. Oxford University Press, 1996. 323 s. ISBN: 0-19-877464-8.
Way of continuous check of knowledge in the course of semester
E-learning
Other requirements
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Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
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Conditions for subject completion
Conditions for completion are defined only for particular subject version and form of study
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction
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