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Course Description

Course: Applied Monetary Economics

Code: ECO454

Semester: B

Tutor: G. Chortareas

This course focuses on monetary policy in theory and practice. The material is divided in four sections. In the first section we consider basic elements of monetary theory such as the supply and demand for money. The second section discusses some modern analytical frameworks for the analysis of monetary policy. We cover issues pertaining to the transmission mechanism of monetary policy, the constraints it faces and its effectiveness. The third section analyses the institutional design of monetary policy and discusses the international experience. In the fourth section we consider the interaction between central bank policies and financial markets.

Course Books

a) Bennett McCallum, Monetary Theory and Policy

b) David Romer, Advanced Macroeconomics