Monetary Policy of Open Economy

Monetary Policy of Open Economy
156-0535/01
angličtina Monetary Policy of Open Economy
156-0535/02
angličtina Monetary Policy of Open Economy
156-0535/03
angličtina Monetary Policy of Open Economy
156-0535/04
angličtina

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.

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. .

Advised literature

O'BRIEN, D. P. The development of monetary economics: a modern perspective on monetary controversies. Cheltenham: Edward Elgar Publishing, 2007. 265 s. .
CLAASSEN, E.-M. Global monetary Economics. Oxford University Press, 1996. 323 s. .

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Language of instruction	angličtina, angličtina, angličtina, angličtina
Code	156-0535
Abbreviation	MPOE
Course title	Monetary Policy of Open Economy
Coordinating department	Department of Applied Economics
Course coordinator	prof. Ing. Lumír Kulhánek, CSc.