156-0905/01 – International Monetarry and Financial Relations (MMFV)

Gurantor departmentDepartment of National EconomyCredits10
Subject guarantordoc. Ing. Zuzana Kučerová, Ph.D.Subject version guarantordoc. Ing. Zuzana Kučerová, Ph.D.
Study levelpostgraduateRequirementChoice-compulsory
YearSemesterwinter + summer
Study languageCzech
Year of introduction2012/2013Year of cancellation
Intended for the facultiesEKFIntended for study typesDoctoral
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 Examination 30+0
Combined Examination 30+0

Subject aims expressed by acquired skills and competences

Student will be able: - to interpret/answer all questions related to international monetary and financial relations, monetary policy realised 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 characterise 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

Individual consultations

Summary

Compulsory literature:

Balassa, B. The Purchasing Power Parity Doctrine: A Reappraisal. Journal of Political Economy, 1964, vol. 72, s. 584-596. De Grauwe, P. International Money, Post-War Trends and Theories. Oxford: Oxford University Press, 1989. De Grauwe, P. The Economics of Monetary Integration. 8th ed. Oxford: Oxford University Press, 2009. Eichengreen, B. Globalizing Capital: A History of the International Monetary System. 2nd. ed. Princeton: Princeton University Press, 2008. Kothari, V. Securitization: The Financial Instrument of the Future. Singapore: John Wiley and Sons, 2006. Krugman, P. R., M. Obstfeld and J. Melitz. International Economics: Theory and Policy. 9th ed. Harlow: Pearson Addison-Wesley, 2012. Mishkin, F. The Economics of Money, Banking, and Financial Markets. 9th ed. Pearson Addison Wesley, 2010.

Recommended literature:

Handa, J. Monetary Economics. London: Routledge, 2000. Kates, S. Macroeconomic Theory and Its Failings: Alternative Perspectives on the Global Financial Crisis. Cheltenham: Edward Elgar Publishing, 2010. Klein, M. W. and J. C. Shambaugh. Exchange Rate Regimes in the Modern Era. Cambridge: MIT Press, 2009. Mishkin, F. S. Monetary Policy Strategy. Cambridge: MIT Press, 2009. Mulhearn, Ch. a R. V. Howard. The Euro: Its Origins, Development and Prospects. Cheltenham: Edward Elgar Publishing, 2008. Rothbard M. The Mystery of Banking. Eastbourne: Terra Libertas, 2011.

Way of continuous check of knowledge in the course of semester

E-learning

Další požadavky na studenta

A student must write a project and to defend it as a part of the oral exam.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

Exchange rate regimes, currency board, dollarization, history, monetary policy possibilities. Exchange rate theory, theory of interest rate parity, simultaneous equilibrium in the money and the foreign exchange market. Output and exchange rate in the short run, the DD-AA model, economic policy in the DD-AA model. Exchange rate regime, exchange rate interventions, sterilisation. Law of one price, purchasing power parity theory, real and nominal exchange rate. Balassa-Samuelson model. International monetary system. Monetary integration in Europe and in the world. ERM II – history, rules, experience. Optimum currency area theory, traditional and modern version. Financial markets integration, theory, empirical research. Securitisation, originate-to-distribute model and financial crisis.

Conditions for subject completion

Combined form (validity from: 2013/2014 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Examination Examination  
Mandatory attendence parzicipation:

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Occurrence in study plans

Academic yearProgrammeField of studySpec.FormStudy language Tut. centreYearWSType of duty
2017/2018 (P6201) Economic Theory (6201V004) Economics P Czech Ostrava Choice-compulsory study plan
2017/2018 (P6201) Economic Theory (6201V004) Economics K Czech Ostrava Choice-compulsory study plan
2016/2017 (P6201) Economic Theory (6201V004) Economics P Czech Ostrava Choice-compulsory study plan
2016/2017 (P6201) Economic Theory (6201V004) Economics K Czech Ostrava Choice-compulsory study plan
2015/2016 (P6201) Economic Theory (6201V004) Economics K Czech Ostrava Choice-compulsory study plan
2015/2016 (P6201) Economic Theory (6201V004) Economics P Czech Ostrava Choice-compulsory study plan
2014/2015 (P6201) Economic Theory (6201V004) Economics P Czech Ostrava Choice-compulsory study plan
2014/2015 (P6201) Economic Theory (6201V004) Economics K Czech Ostrava Choice-compulsory study plan
2013/2014 (P6201) Economic Theory (6201V004) Economics P Czech Ostrava Choice-compulsory study plan
2013/2014 (P6201) Economic Theory (6201V004) Economics K Czech Ostrava Choice-compulsory study plan
2012/2013 (P6201) Economic Theory (6201V004) Economics P Czech Ostrava Choice-compulsory study plan
2012/2013 (P6201) Economic Theory (6201V004) Economics K Czech Ostrava Choice-compulsory study plan

Occurrence in special blocks

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