23505 Economics of Monetary Policy and Central Banking

Description

This subject equips students with the conceptual tools needed to thoroughly understand and analyse the operations of monetary policy, central banking and associated financial regulation. It develops and extends the treatment of models in Intermediate Macroeconomics that are crucial for such an understanding and it applies these models to the challenges faced by central banks in the conduct of monetary policy. It also considers how the nature of central banking has been changing in recent years, and the interaction between monetary policy and other forms of financial and prudential regulation. This includes the management of overall financial system risk, the possibility of financial crises, and the emergence of macro-prudential regulation. Students explore these issues at the same time as developing their written communication skills.