Monetary Economics

Module Code ECNU3MY
Semester Spring
Prerequisite ECNU212 & ECNU311
Level 10
Credit Value 20
Module Co-ordinator TBC
Assessment 40% Coursework, 60% examination

MODULE INTRODUCTION, AIMS AND OBJECTIVES

The course is divided into two parts.  In the first set of lectures the student will learn the basic principles of monetary economics: the nature of money, theories of money demand, money supply determination process and money in macroeconomic models. In the second part of the course the student will be guided through monetary policy theory: outline of the goals of monetary policy, Central bank credibility, the time inconsistency problem and types of policy rules.

  • The role of money in modern society.
  • How monetary policy actions are transmitted to the real economy?
  • How monetary policy is conducted by modern Central Banks?

LEARNING OUTCOMES AND SKILLS DEVELOPED

Knowledge and understanding of:

  • The demand for money process
  • The money supply
  • The transmission mechanism of monetary policy
  • Monetary policy operating procedures
  • Central bank independence and accountability

RECOMMENDED READING LIST

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