| Course Unit Code | 156-0324/02 |
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| Number of ECTS Credits Allocated | 4 ECTS credits |
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| Type of Course Unit * | Choice-compulsory |
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| Level of Course Unit * | Second Cycle |
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| Year of Study * | First Year |
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| Semester when the Course Unit is delivered | Winter Semester |
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| Mode of Delivery | Face-to-face |
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| Language of Instruction | Czech |
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| Prerequisites and Co-Requisites | There are no prerequisites or co-requisites for this course unit |
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| Name of Lecturer(s) | Personal ID | Name |
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| KUL20 | prof. Ing. Lumír Kulhánek, CSc. |
| Summary |
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| TThe course is focused on the role of money in the economy, on the monetary policy and the role of central banks. The content of the course is focused on the history of banking institutions and money, theory of money demand and supply and the theory of interest rate, on the implementation of monetary policy and its role in the system of macroeconomic policies. Students are also informed about the current implementation of monetary policy and central banking, the regulation and supervision of the banking system and its current state in the Czech Republic and abroad including the capital requirements directives Basel. |
| Learning Outcomes of the Course Unit |
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The student wil be able:
- to interpret/answer all questions related to monetary policy, its theoretical basis and practical implementation;
- to characterise monetary policy objectives and instruments and explain its functioning, describe principles and types of transmission mechanisms;
- to differentiate between monetary policy implementation in various transmission mechanisms;
- to explain the monetary policy decision process of central bankers;
- to make conclusions concerning the practical implementation of monetary policy and its impact on the economy (and other macroeconomic policies);
- to defend or criticize basic steps of monetary policy realized in the Czech Republic. |
| Course Contents |
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1. The history of banking institutions and the role of a central bank.
2. Money, functions of money, monetary aggregates.
3. Electronic money.
4. Financial system, financial markets, financial intermediation.
5. Money demand.
6. Money supply.
7. Interest rate theory.
8. Central banking.
9. Monetary policy tools.
10. Monetary policy goals, transmission mechanisms.
11. Inflation targeting.
12. Regulation and supervision of the banking system.
13. Capital requirements, Basel I, II and III.
14. Conclusions. |
| Recommended or Required Reading |
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| Required Reading: |
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| MISHKIN, F. S. The Economics of Money, Banking, and Financial Markets. 10th ed. Harlow: Pearson, 2012. ISBN 978-0-273-76585-1. |
JÍLEK, J. Peníze a měnová politika. Praha: Grada Publishing, 2004. ISBN 80-247-0769-1.
REVENDA, Z. et al. Peněžní ekonomie a bankovnictví. 5. vyd. Praha: Management Press, 2012. ISBN 978-80-7261-240-6.
REVENDA, Z. Centrální bankovnictví. 3. vyd. Praha: Management Press, 2011. ISBN 978-80-7261-230-7. |
| Recommended Reading: |
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HANDA, J. Monetary Economics. 2nd ed. London: Routledge, 2009. ISBN 978-0-415-77210-5.
MOENJAK, Thammarak. Central banking: theory and practice in sustaining monetary and financial stability. Singapore: Wiley, 2014. ISBN 978-1-118-83246-2.
ROTHBARD, Murray Newton. The mystery of banking. 3rd ed. Eastbourne: Terra Libertas, 2011. ISBN 978-1-908089-31-1. |
JÍLEK, J. Finance v globální ekonomice I: Peníze a platební styk. Praha: Grada Publishing, 2013. ISBN 978-80-247-3893-2.
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| Planned learning activities and teaching methods |
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| Lectures, Tutorials, Project work |
| Assesment methods and criteria |
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| Task Title | Task Type | Maximum Number of Points
(Act. for Subtasks) | Minimum Number of Points for Task Passing |
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| Exercises evaluation | Credit | 100 (100) | 51 |
| Seminární práce | Project | 35 | 18 |
| Písemný test | Written test | 65 | 33 |