| Course Unit Code | 156-0535/04 |
|---|
| Number of ECTS Credits Allocated | 4 ECTS credits |
|---|
| Type of Course Unit * | Choice-compulsory |
|---|
| Level of Course Unit * | Second Cycle |
|---|
| Year of Study * | |
|---|
| Semester when the Course Unit is delivered | Winter Semester |
|---|
| Mode of Delivery | Face-to-face |
|---|
| Language of Instruction | English |
|---|
| Prerequisites and Co-Requisites | Course succeeds to compulsory courses of previous semester |
|---|
| Name of Lecturer(s) | Personal ID | Name |
|---|
| ADA364 | Ing. Emil Adámek, Ph.D. |
| 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. |
| Learning Outcomes of the Course Unit |
|---|
Student will be able:
- to understand conventional and nonconventional monetary policy
- to explain exchange rate
- to define monetary policy within and without monetary union
- to use modelling of monetary policy |
| Course Contents |
|---|
1.Role of money in market economy
2.Modern monetary system
3.Conventional monetary policy
4.Transmission mechanisms of monetary policy
5.Unconventional monetary policy
6.Seigniorage and fiscal dominance
7.Independence, transparency and responsibility of central banks
8.Monetary policy regimes [inflation targeting, money supply targeting, currency targeting]
9.Monetary policy and exchange rate
10.Monetary policy uncertainty
11.Monetary policy, prices of assets and financial stability
12.Monetary policy within and without monetary union
13.Modelling monetary policy
14.Monetary policy of Czech National Bank |
| Recommended or Required Reading |
|---|
| Required Reading: |
|---|
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. ISBN: 0-415-22618-X.
|
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. ISBN: 0-415-22618-X.
|
| Recommended Reading: |
|---|
O'BRIEN, D. P. The development of monetary economics: a modern perspective on monetary controversies. Cheltenham: Edward Elgar Publishing, 2007. 265 s. ISBN: 978-1-84720-260-4.
CLAASSEN, E.-M. Global monetary Economics. Oxford University Press, 1996. 323 s. ISBN: 0-19-877464-8.
|
O'BRIEN, D. P. The development of monetary economics: a modern perspective on monetary controversies. Cheltenham: Edward Elgar Publishing, 2007. 265 s. ISBN: 978-1-84720-260-4.
CLAASSEN, E.-M. Global monetary Economics. Oxford University Press, 1996. 323 s. ISBN: 0-19-877464-8.
|
| Planned learning activities and teaching methods |
|---|
| Lectures, Tutorials, Project work |
| Assesment methods and criteria |
|---|
| Tasks are not Defined |