| Course Unit Code | 156-0524/02 |
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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 * | First 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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| ADA364 | Ing. Emil Adámek, Ph.D. |
| Summary |
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| The subject deals with key areas of contemporary monetary theory and policy. It compares theories of money demand and money supply, including their implications for different monetary policy regimes. It clarifies approaches to the issue of the impact of money and monetary processes on expectations of economic subjects, price level, inflation, product and other macroeconomic variables. It analyses the monetary policy process, its objectives, tools and transmission mechanisms. Also, it provides an overview of monetary policy developments in the Czech Republic and the world, with an emphasis on current trends. |
| Learning Outcomes of the Course Unit |
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Student will be able:
- to explain role of the money in economy,
- to define central bank and to describe its functions, goals and tools,
- to understand inflation targeting
- to explain role of CNB and ECB.
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| Course Contents |
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1. Money and its importance in the economy
2. Development of forms of money and the payment system.
3. Financial system and financial markets
4. Banking systems and banking history
5. Central Bank
6. Theoretical approaches to money demand
7. Money supply and creation of money
8. Theory of interest rates
9. Monetary policy objectives, criteria and indicators
10. Transmission mechanisms and monetary policy strategies
11. Monetary policy instruments
12. Inflation targeting and targeting money supply
13. European Central Bank
14. Financial crisis and monetary policy.
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| 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, 2013. 726 s. ISBN 978-0-273-76573-8.
CECCHETTI, S.G. Money, banking, and financial markets. 3rd ed. New York : McGraw-Hill/Irwin, 2011. 673 s. ISBN 978-0-07-122068-2.
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MISHKIN, F. S. The Economics of Money, Banking, and Financial Markets. 10th ed. Harlow: Pearson, 2013. 726 s. ISBN 978-0-273-76573-8.
CECCHETTI, S.G. Money, banking, and financial markets. 3rd ed. New York : McGraw-Hill/Irwin, 2011. 673 s. ISBN 978-0-07-122068-2.
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| Recommended Reading: |
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HUBBARD, G. R. and A. P. O´BRIEN. Money, Banking, and the Financial System. 2nd ed. Boston : Pearson, 2014. 652 s. ISBN 978-1-292-00018-3.
MISHKIN, F.S. Monetary policy strategy. Cambridge : MIT Press, 2007. 549 s. ISBN 978-0-262-13482-8.
BOFFINGER, P. Monetary policy: goals, institutions, strategies, and instruments. Oxford: Oxford University Press, 2001. 454 s. ISBN 0-19-924856-7.
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HUBBARD, G. R. and A. P. O´BRIEN. Money, Banking, and the Financial System. 2nd ed. Boston : Pearson, 2014. 652 s. ISBN 978-1-292-00018-3.
MISHKIN, F.S. Monetary policy strategy. Cambridge : MIT Press, 2007. 549 s. ISBN 978-0-262-13482-8.
BOFFINGER, P. Monetary policy: goals, institutions, strategies, and instruments. Oxford: Oxford University Press, 2001. 454 s. ISBN 0-19-924856-7. |
| Planned learning activities and teaching methods |
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| Lectures, Tutorials, Project work |
| Assesment methods and criteria |
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| Tasks are not Defined |