Courses Master Display 2022-2023
|Course Description||To PDF|
|Course title||ECB and Monetary Policy|
For more information: firstname.lastname@example.org
|Language of instruction||English|
* To understand and apply the workhorse (3-equation) model for macroeconomic analysis in a closed economy
* To understand the role of expectations in modern macroeconomics and monetary policy
* To understand the role of the banking sector in the interaction between the monetary policy and the real economy
* To understand and analyse causes and consequences of financial crises
* To understand and discuss the relevance of the institutional design of the central bank
* To understand and discuss the effectiveness of monetary policy in the short run and the long run
This course is one of the mandatory courses in the MSc Financial Economics. Its main purpose is to provide a solid foundation with respect to monetary economics for the rest of the MSc program, from a macro-financial perspective. In this course we intend to provide an extension of available insights into monetary theory, to introduce recent developments in monetary theory and to link monetary theory to the practice of monetary policy today, in particular in the context of the euro area.The latter includes the Great Financial Crisis and the euro sovereign debt crisis, the Covid-19 crisis, the ECB's strategy review and the role of monetary policy in the context of climate change and the recent surge in inflation. The course includes a simulation of a meeting of the Governing Council of the European Central bank, either online or onsite in Frankfurt (depending on the Covid-19 situation).
Carlin, W. and D. Soskice, 2015, Macroeconomics: Institutions, Instability and the Financial System, Oxford University Press; and selected articles and reports (all available online).
Second-year macro-economics (BSC; level book Blanchard Et Al ''Macroeconomics: A European Perspective'').
Exchange students need to have obtained a Bachelor degree with a major in Economics or Ecmonetrics.
|Teaching methods (indicative; course manual is definitive)||PBL / Presentation / Lecture / Assignment / Groupwork|
|Assessment methods (indicative; course manual is definitive)||Participation / Written Exam / Assignment|
|Evaluation in previous academic year||For the complete evaluation of this course please click "here"|
|This course belongs to the following programmes / specialisations||