Monetary and Financial Policy

Recommended Prerequisites

Macroeconomics, mathematics and econometrics at the level of a BA in Economics and English at the independent user level in reading.

Teaching Methods

Mixed theoretical-practical classes; discussion of case studies in class; preparation by students of the discussion of case studies.

Learning Outcomes

1. Explain the problem of defining the monetary aggregate and compare different solutions;

2. Describe and compare different monetary policy strategies;

3. Describe and compare the use of different monetary policy instruments;

4. Describe and analyze different mechanisms of transmission of economic policy;

5. Relate the evolution of central bank statutes and objectives with the evolution of economic analysis;

6. Relate monetary policy and fiscal policy.

Work Placement(s)

No

Syllabus

1. Monetary policy: fundamental concepts

2. Fiscal policy: fundamental concepts

3. The interaction between monetary policy and fiscal policy

4. Case studies.

Assessment Methods

Assessment
Periodic or by final exam as given in the course information: 100.0%

Bibliography

Acocella, N. (1998). The Foundations of Economic Policy. Cambridge University Press.

Bénassy-Quéré, A.; Coeuré, B.; Jacquet, P.; Pisani-Ferry, J. (2019), Economic Policy. Oxford University Press.

Bindseil, B. (2014). Monetary Policy Operations and the Financial System. Oxford University Press.

Bofinger, P. (2001). Monetary policy: goals, institutions, strategies, and instruments. Oxford University Press.

Herger, N. (2019). Understanding Central Banks. Springer.

Hetzel, R.L. (2008). The Monetary Policy of the Federal Reserve: A History. Cambridge University Press.

Issing, O. (2019). The Long Journey of Central Bank Communication. The MIT Press.

Sumner, S. (2021). The Money Illusion. University of Chicago Press.

Ugolini, S. (2017). The Evolution of Central Banking: Theory and History. Palgrave.