Learning Objectives:

The students will acquire basic knowledge of monetary economics, monetary policy and exchange rates. They will be able to analyze the macroeconomic effects of monetary policy measures as well as associated conflicts of economic policy objectives.

Contents:

• Fundamentals of money demand, money supply, and monetary transmission
• Monetary policy strategies and instruments of central banks
• Conventional and unconventional monetary measures
• Analysis of the effects of monetary policy on macroeconomic variables
• Fundamentals of currency theory and policy

Methods:

• Models and analysis methods (e.g., research and analysis models): Mathematically formulated macroeconomic models
• Quantitative-empirical methods (e.g., comparative-statistical, mathematical methods, data analysis): Data analysis, graphical representation and interpretation, regression
• Qualitative-interpretative methods (e.g., expert interviews, surveys, standardized surveys): Case studies

Teaching and Learning Methods:

• Lecture with seminar-style instruction

Literature:

• Görgens, E., Ruckriegel, K., Seitz, F. Europäische Geldpolitik. Theorie, Empirie, Praxis. 6th edition. 2013.
• Gischer, H., Herz, B., Menkhoff, L. Geld, Kredit und Banken. 4th edition. 2020.
• Additional literature will be announced during the course.