PEMTAP Monetary Theory and Policy

Faculty of Economics and Administration
Spring 2009
Extent and Intensity
2/0/0. 3 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Michal Kvasnička, Ph.D. (lecturer)
Guaranteed by
prof. PhDr. Kamil Fuchs, CSc.
Department of Economics – Faculty of Economics and Administration
Contact Person: Lydie Pravdová
Timetable
Wed 13:45–15:20 P103
Prerequisites
pemik2 Microeconomics II && ! pemtape || PřF:E2312 Macroeconomy I
Intermediate Microeconomics
Course Enrolment Limitations
The course is also offered to the students of the fields other than those the course is directly associated with.
fields of study / plans the course is directly associated with
there are 12 fields of study the course is directly associated with, display
Course objectives
Students are introduced to principles of (macro)monetary economics in this course. At the end of this course, students should be able to understand and be able to explain what money is, how it is endogenously created within the banking system, and how (and to what extent) the central bank can manage it. They will understand the link between money, interest rates, the rate of inflation, and the economic activity. Beside other things, they will be acquainted with basic business cycle hypotheses. They will be able to make reasoned qualitative forecasts about the future course of the monetary policy, and its outcomes. The course provides students with knowledge necessary for a further quantitative study on an advanced level.
Syllabus
  • 1. Introduction to monetary economics
  • 2. Barter economics: households, firms, and general equilibrium
  • 3. Time structure of production and capital
  • 4. Demand for money
  • 5. Equilibrium of the monetary economy
  • 6. Supply of the inside money
  • 7. Money supply in a hypothetical regime when the monetary base is fixed
  • 8. Money supply in the regime when the interest rate is fixed
  • 9. Business cycles hypothesis: introduction, RBC, ABC, monetary misperception theories, nominal rigidities theories
  • 10. The ultimate cause of inflation and business cycles
  • 11. Implications for the monetary policy
Literature
  • KOHN, Meir. Money, banking, and financial markets. 2nd ed. Fort Worth: Dryden Press, 1993, xxxvi, 873. ISBN 0-03-096500-4. info
  • JÍLEK, Josef. Peníze a měnová politika. Grada, 2004. ISBN 80-247-0769-1. info
  • Advanced macroeconomics. Edited by David Romer. 3rd ed. Boston: McGraw-Hill, 2006, xxii, 678. ISBN 0072877308. info
  • REVENDA, Zbyněk. Peněžní ekonomie a bankovnictví. Vyd. 1. Praha: Management Press, 1996, 613 s. ISBN 80-85943-06-9. info
  • WHITE, Lawrence H. The theory of monetary institutions. 1. ed. Oxford: Blackwell, 1999, xii, 269 s. ISBN 0-631-21214-0. info
  • KOHN, Meir G. Financial institutions and markets. 2nd ed. New York: Oxford University Press, 2004, xxx, 674. ISBN 0195134729. info
  • REVENDA, Zbyněk. Centrální bankovnictví. Vyd. 1. Praha: Management Press, 1999, 741 s. ISBN 80-85943-89-1. info
Assessment methods
The course consists of lectures. The exam is written.
Language of instruction
Czech
Further Comments
Study Materials
The course is taught annually.
Teacher's information
http://www.econ.muni.cz/~qasar/vyuka.html#metp
The course is also listed under the following terms Spring 2002, Spring 2003, Spring 2004, Spring 2005, Spring 2006, Autumn 2006, Spring 2007, Spring 2008.
  • Enrolment Statistics (recent)
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