Currency and Monetary Policy

Recommended Prerequisites

Economy.

Teaching Methods

Preferably shared or continuous assessment.

Learning Outcomes

The Money and Monetary Policy curricular unit is a monographic course, where students will have the opportunity to study money, monetary theory and monetary policy. The general framework for the subjects will be developed according to the general lines of disagreement between ‘Keynesians’ and ‘Monetarists’.

Work Placement(s)

No

Syllabus

1.Concept and functions of the coin.

 1.notion of currency

 2.currency and capitalist economy

 3.fun tions of the coin

2. Demand and money supply

 1.demand for currency

 2.money supply

3.Esp currency écies. The Portuguese currency

 1.brief historical notes

 2.the species of coin

 3. urrency and monetary aggregates Species in Portugal

4. Mechanisms of money creation

 1.creation of metallic currency

 2.creation of paper currency

 3.creation of the Bank currency

5. Coin value

 1.value of the currency and the variation of prices

 2.equation of trade and the quantity theory of money.

 3.friedmaniana counter-revolution:the reformulation of the quantity theory of money

 4.the fundamental points of the theory of Milton Friedman

 5.Phillips curve and critique of Milton Friedman (theory of adaptive expectations)

 6.natural rate of unemployment

 7.long-term Phillips curve

 8.Phillips curve of positive slope

 9.variations of the coin value

6.Controversy"practise""monetarist.

Head Lecturer(s)

Teresa Maria Coelho Marques Almeida Moura Ramos

Assessment Methods

Assessment
Research work: 100.0%

Bibliography

António José Avelãs Nunes, Economia I – A Moeda, 2009, Coimbra, Serviços de Acção Social da U.C