Кто читает:: Банковский институт

Статус:: Курс по выбору

Когда читается:: 2-й курс, 1 модуль

Abstract

This module is designed as a self-contained introduction to modern monetary economics and policy. It covers the question of how central banks go about setting monetary policy, both traditional and unconventional, the empirical evidence, and the models that go along with the monetary policy. Module focuses on the New Keynesian framework but also provides also brief overview of competing theories of the past, given that curious student can find more information during self-study in advised materials.

Learning Objectives

The goal of the course is to provide knowledge, covering practical issues in central bank decision making process, mainstream theoretical framework, instruments and transmission mechanisms for developed countries and Russian economy

Expected Learning Outcomes

After the course, students will build up knowledge to foresee possible changes in monetary policy given the business cycle fluctuations and analyze probable outcome of monetary policy on main macroeconomic and financial indicators.

Course Contents

Empirical evidence on the effects of monetary policy.
Systematic monetary policy.
Traditional monetary policy trade-offs.
New Keynesian framework.
Central bank goals and instruments.
Credit and banking in the transmission mechanism.
Unconventional monetary policy.
Monetary policy in open economy.

Assessment Elements

mid-term test
final exam

Interim Assessment

2023/2024 1st module
0.7 * final exam + 0.3 * mid-term test

Bibliography

Recommended Core Bibliography

BOFIT Viikkokatsaus, & BOFIT Weekly 2020/39. (2020, September 25). Central Bank of Russia keeps its key rate unchanged; previews monetary policy guidelines for 2021-2023. BOFIT Weekly, 39, 1–2.
Forero-Laverde, G. (2018). The Impossible Trinity and Financial Stability. The Incidence of Trilemma Regimes on the (In)stability of Stock Markets and Credit Aggregates (1922-2013). Universitat de Barcelona, 2018. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edstdx&AN=edstdx.10803.663993
Groth, C. (2014). Exercise problems for Advanced Macroeconomics. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.5892F642

Recommended Additional Bibliography

Nasrul Ismail. (2019). Contextualising the pervasive impact of macroeconomic austerity on prison health in England: a qualitative study among international policymakers. BMC Public Health, 19(1), 1–11. https://doi.org/10.1186/s12889-019-7396-7

Authors

PETRONEVICH MAKSIM VASILEVICH
ELIZAROVA IRINA NIKOLAEVNA
ODINTSOVA ULYANA ALEKSANDROVNA

Магистерская программа «Финансовый аналитик»

Контакты:

Monetary Economics

Course Syllabus