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This subject will enable you to develop a comprehensive understanding of monetary policy, central banking and financial regulation. It uses models developed in Intermediate Macroeconomics to explore the challenges faced by central banks in the twenty-first century, especially the conduct of monetary policy, responses to and prevention of financial crises, and management of the new tools of macro-prudential regulation. Learning is facilitated by class preparation, interactive problem-based discussion and intensive writing tasks that apply frameworks from monetary economics to either a policy issue of current significance or a conceptual issue with important policy implications. Your written communication skills will be honed as you prepare drafts, receive feedback and use strategies discussed in class to make improvements to your writing.

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23505 - Economics of Monetary Policy and Central Banking

Economics of Monetary Policy and Central Banking

Explain the nature and causes of financial crises, and critique various policies that have been advocated to limit the occurrence and effects of such crises

Critically reflect on the changing nature of central banking in recent years and assess complications that have emerged between the operation of monetary policy and other forms of financial regulation

Effectively communicate their explanations and analysis of monetary phenomena in written form

Articulate the role of central banks within the macroeconomy and analyse the challenges of implementing monetary policy using appropriate formal models

Handbook

23505 - Economics of Monetary Policy and Central Banking

6 Credit points