Courses NonDegree Display 2022-2023

Course Description To PDF
Course title ECB and Monetary Policy
Course code EBC4023
ECTS credits 6,5
Assessment Whole/Half Grades
Period
Period Start End Mon Tue Wed Thu Fri
1 5-9-2022 14-10-2022 X X
Level Intermediate/Advanced
Coordinator Olaf Sleijpen
For more information: o.sleijpen@maastrichtuniversity.nl
Language of instruction English
Goals
* 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
Description
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).
Literature
Carlin, W. and D. Soskice, 2015, Macroeconomics: Institutions, Instability and the Financial System, Oxford University Press; and selected articles and reports (all available online).
Prerequisites
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
Master Financial Economics - Asset Pricing Compulsory Course(s)
Master Financial Economics - Banking Compulsory Course(s)
Master Financial Economics - Financial Analysis Compulsory Course(s)
Master Financial Economics - No specialisation Compulsory Course(s)
Master Fiscal Economics Economics Elective(s)
SBE Exchange Master Master Exchange Courses
SBE Non Degree Courses Master Courses