| Course Unit Code | 120-0516/03 |
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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 * | |
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| Semester when the Course Unit is delivered | Summer Semester |
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| Mode of Delivery | Face-to-face |
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| Language of Instruction | English |
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| Prerequisites and Co-Requisites | Course succeeds to compulsory courses of previous semester |
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| Name of Lecturer(s) | Personal ID | Name |
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| DVO37 | Ing. Kateřina Dvoroková, Ph.D. |
| Summary |
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The aim of the course is to acquaint students with the major historical phases of the monetary integration proces in Europe and equip students with the theories underlying European Monetary Union. Topics covered include the institutional and legal framework of EU monetary policy, evaluation and debate on the main issues related to the launch of the euro and discussion the problem of fiscal politics coordination in monetary union. The course also deals with the
influence of the European Monetary Union on the Czech Republic and other accession countries. In the subject there will be discussed also the process of EU financial markets integration and the view from outside the euro area, i.e. its position in the global economy. |
| Learning Outcomes of the Course Unit |
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1. Define basic concepts of EU Monetary Policy
2. Explain major events relevant to the development of monetary cooperation in Europe
3. Evaluate the necessary preconditions for monetary integration in the EU
4. Analyze the current state of functioning of the European Monetary Union
5. Formulate perspective functioning of the European Monetary Union
6. Explain the main benefits of monetary integration in the EU |
| Course Contents |
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1. Course Introduction
2. Origins and Development of European Monetary Integration
3. European Monetary System
4. The Theory of Optimum Currency Area
5. Formation of the European Monetary Union
6. Institutional Framework of the Common EU Monetary Policy
7. The ECB´s Monetary Policy Strategy
8. Monetary Policy Instruments of the ECB
9. Monetary and Fiscal Policy in Monetary Union
10. Institutional Framework of Fiscal Policy in EU
11. The Integration of Financial Markets in the EU
12. Monetary Policy of non Euro Area States
13. Real and Nominal Convergence of EU Economies
14. EMU and Euro Position in the World Economy |
| Recommended or Required Reading |
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| Required Reading: |
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BALDWIN, Richard and Charles WYPLOSZ. The Economics of European Integration. New York: McGraw Hill, 2009. ISBN 978-0-077-12163-1.
De GRAUWE, Paul. Economics of Monetary Union. New York: Oxford University Press, 2009. ISBN 978-0-19-956323-4.
EICHENGREEN, Barry. Globalizing capital: a history of the international monetary system. New Jersey: Princeton University Press, 2008. ISBN 978-0-691-13937-1. |
BALDWIN, Richard and Charles WYPLOSZ. The Economics of European Integration. New York: McGraw Hill, 2009. ISBN 978-0-077-12163-1.
De GRAUWE, Paul. Economics of Monetary Union. New York: Oxford University Press, 2009. ISBN 978-0-19-956323-4.
DVOROKOVÁ, Kateřina. Autorské dílo v rámci projektu Rozvoj jazykových kompetencí pracovníků VŠB-TUO: InterDV, registrační číslo projektu: CZ.1.07/2.2.00/15.0132: EU Monetary Policy. In: Moodle VSB [online], 2012. Ostrava [cit. 2017-05-22]. Dostupné z: http://lms.vsb.cz/course/view.php?id=34120
EICHENGREEN, Barry. Globalizing capital: a history of the international monetary system. New Jersey: Princeton University Press, 2008. ISBN 978-0-691-13937-1. |
| Recommended Reading: |
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DYSON, Kenneth and Martin MARCUSSEN. Central Banks in the Age of the Euro: Europeanization, Convergence and Power. Oxford: Oxford University Press, 2009. ISBN 978-0-19-921823-3.
FUHRER, Jeffrey C. Understanding Inflation and the Implications for Monetary Policy: A Phillips Curve Retrospective. Cambridge, MA: MIT Press, 2009. ISBN 978-0-262-01363-5.
HIERONYMI, Otto. Globalization and the Reformo f the International Banking and Monetary System. Basingstoke: Palgrave Macmillan, 2009. ISBN 978-0-230-23530-4. |
DYSON, Kenneth and Martin MARCUSSEN. Central Banks in the Age of the Euro: Europeanization, Convergence and Power. Oxford: Oxford University Press, 2009. ISBN 978-0-19-921823-3.
FUHRER, Jeffrey C. Understanding Inflation and the Implications for Monetary Policy: A Phillips Curve Retrospective. Cambridge, MA: MIT Press, 2009. ISBN 978-0-262-01363-5.
HIERONYMI, Otto. Globalization and the Reformo f the International Banking and Monetary System. Basingstoke: Palgrave Macmillan, 2009. ISBN 978-0-230-23530-4. |
| Planned learning activities and teaching methods |
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| Lectures, Seminars, Individual consultations |
| Assesment methods and criteria |
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| Tasks are not Defined |