|Status:||CFS - elective
EEI and EP - mandatory
ET - elective
F,FM and B - elective
Masters - all
MEF - elective
Semester - winter
|Course supervisors:|| doc. Mgr. Tomáš Holub Ph.D.
|Literature:||Walsh, C. E.: Monetary Theory and Policy, Cambridge, Massachusetts, MIT Press, 1998.
Mahadeva L., Sterne G. (2000) Monetary policy framework in a global context, Routledge, London.
for other readings see the course outline in SIS
|Description:||The goal of this course is to achieve understanding of modern monetary economics.
The introductory part is devoted to the role of money in the economy, the nature of modern monetary system (and its alternatives proposed in the literature), monetary policy instruments in normal times and to the monetary policy transmission mechanism. The next part of the course deals with the modern topics in monetary economics, such as monetary policy instruments during the crisis, zero-lower-bound issues and DSGE modelling. The following block of lectures is devoted to the optimal institutional and regime design of monetary policy. Finally, the issues related to nexus between monetary policy and financial stability is discussed.