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Terminated in academic year 2023/2024

Monetary Theory

Type of study Doctoral
Language of instruction English
Code 114-9503/01
Abbreviation MT
Course title Monetary Theory
Credits 10
Coordinating department Department of Economics
Course coordinator prof. Ing. Lumír Kulhánek, CSc.

Subject syllabus

Overview of approaches to the monetary theory and their comparison.
Assumptions and methodological analyses of the monetary processes.
Contemporary empirical methods of analysing in the monetary theory.
Quantitative theory of money before and after Keynes. Theory of liquidity
preference and its further evolution. Neutrality and super-neutrality of
money. Money demand and the theory of money demands. Macroeconomic and
microeconomic approaches to the demands for money.

Literature

Bernanke, B. S., Woodford, M. (Eds.): The Inflation-Targeting Debate. Chicago. University Of Chicago Press 2005. ISBN 0226044718.
Laidler, D.: Macroeconomics in Retrospect: The Selected Essays of David Laidler. Cheltenham: Edward Elgar, 2004. 433 pp. ISBN 1-84376-384-2 .
Melecký, A., Melecký, M.: From inflation to exchange rate targeting: Estimating the stabilization effects for a small open economy. Economic Systems, 34 (2010), pp. 450–468;
Mishkin, F. S.: The Economics of Money, Banking and Financial Markets. 10th ed. Boston: Pearson, 2013. ISBN 9780132770248 .
Taylor, J. B.: Monetary Policy Rules. Chicago. University of Chicago Press 2001. ISBN 0226791254.
Walsh, C.E.: Monetary Theory and Policy. 3rd ed. Cambridge (MA): MIT Press, 2010. 640 pp. 978-0-262-01377-2.
Woodford, M.: Interest and Prices: Foundations of a Theory of Monetary Policy. Princeton: Princeton University Press, 2003. 808 pp. ISBN: 978-0-691-01049-6.

Advised literature

Bernanke, B. S., Laubach, T., Mishkin, F. S., Posen, A. S.: Inflation Targeting: Lessons from the International Experience. Princeton, N. J.: Princeton University Press 2001. ISBN 0691086893.
Blaug, M., Eltis, W., O'Brien, D., Skidelsky, R., Patinkin, D.: The Quantity Theory of Money: From Locke to Keynes and Friedman. Cheltenham. Edward Elgar Publishing 1995. ISBN 1858981778 .
Friedman, M.: Studies in the Quantity Theory of Money (Textbook Binding). Chicago. University of Chicago Press 2000. ISBN 0226264041 .
Laidler, D. E. W.: The Demand for Money: Theories, Evidence, and Problems. 4th Ed. New York. Harper & Row 1997. ISBN 0065010981 .
Svensson, L. E. O., Woodford, M.: Implementing Optimal Policy through Inflation-Forecast Targeting. (NBER Working Paper 9747). Cambridge, MA: National Bureau of Economic Research 2003. (http://papers.nber.org/papers/w9747.pdf)


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