ESF:PEMT Monetary theory - Course Information
PEMT Monetary theory
Faculty of Economics and AdministrationAutumn 2008
- Extent and Intensity
- 1/1/0. 3 credit(s). Type of Completion: graded credit.
- Teacher(s)
- Ing. Miroslav Hloušek, Ph.D. (lecturer)
- Guaranteed by
- prof. Ing. Antonín Slaný, CSc.
Faculty of Economics and Administration
Contact Person: Lydie Pravdová - Timetable
- Mon 7:40–9:15 S309
- Course Enrolment Limitations
- The course is only offered to the students of the study fields the course is directly associated with.
- fields of study / plans the course is directly associated with
- Mathematics - Economics (programme PřF, N-AM)
- Course objectives
- Aim of the course is to provide overview of basic issues of modern monetary theory and policy.
At the end of this course, students should be able to:
- define main issues of monetary economics and policy;
- characterize problem of time inconsistency of monetary policy and its impacts;
- suggest possible solutions of time inconsistency problem;
- understand to derivation of New Keynesian Phillips curve and IS curve from microeconomic foundations;
- analyze various regimes of monetary policy (their advantages and disadvantages);
- derive optimal monetary policy under discretion and under commitment in basic New Keynesian model;
- distinguish additive and multiplicative uncertainty and its influence for central bank behavior;
- understand of solving rational expectations models;
- distinguish impacts of various types of shocks in the model economy. - Syllabus
- 1. Introduction into monetary economics.
- 2. Derivation of base New Keynesian model.
- - IS curve
- - Phillips curve
- 3. Discretionary policy and time inconsistency problem.
- 4. Interest rate rules.
- 5. Targeting regimes and optimal monetary policy.
- 6. Optimal policy and uncertainty.
- 7. Solving of models with rational expectations (applications).
- Literature
- GALÍ, Jordi. Monetary policy, inflation, and the business cycle : an introduction to the new Keynesian framework. Princeton: Princeton University Press, 2008, xi, 203. ISBN 9780691133164. info
- WALSH, Carl E. Monetary theory and policy. 2nd ed. Cambridge, Mass.: MIT Press, 2003, xviii, 612. ISBN 0262232316. info
- WILLIAMSON, Stephen D. Macroeconomics. 2nd ed. Boston: Pearson Addison Wesley, 2005, xxiv, 678. ISBN 0321240936. info
- Assessment methods
- written examination
- Language of instruction
- Czech
- Further Comments
- Study Materials
The course is taught annually.
- Enrolment Statistics (recent)
- Permalink: https://is.muni.cz/course/econ/autumn2008/PEMT