Monetary Economics and Central Banking
Course code
ECON609
Course type
MSc Course
Weekly Hours
2,5
ECTS
5
Term
HS 2021
Language
Englisch
Lecturers
Prof. Dr. Ralf Fendel
Please note that exchange students obtain a higher number of credits in the BSc-program at WHU than listed here. For further information please contact directly the International Relations Office.
Course content
1. Monetary Theory
2. Monetary Policy
3.Macroeconomic Theory
Class dates
| Date | Time |
|---|---|
| Friday, 03.09.2021 | 08:00 - 11:15 |
| Tuesday, 07.09.2021 | 11:30 - 15:15 |
| Tuesday, 14.09.2021 | 08:00 - 09:30 |
| Thursday, 16.09.2021 | 11:30 - 15:15 |
| Tuesday, 21.09.2021 | 08:00 - 11:15 |
| Friday, 01.10.2021 | 08:00 - 11:15 |
| Tuesday, 05.10.2021 | 11:30 - 15:15 |
| Friday, 08.10.2021 | 08:00 - 11:15 |
| Wednesday, 13.10.2021 | 09:00 - 10:30 |
Learning outcomes
Understanding of:
- Interest rate determination and term structure of interest rates
- Money Creation in modern economies
- Transmission of monetary policy
- The problem of the zero lower bound of interest rates
- Conventional and unconventional monetary policies
- Functioning of the European Central Bank (ECB) and the Fed
- Monetary policy strategies and their implementation
- Monetary policy rules
- Credibility and time inconsistency in monetary policy
- Analysis of aggregate demand and aggregate supply in the economy
Literature
Mishkin, F. S., The Economics of Money, Banking, and Financial Markets – Global Edition, 13th edition, Pearson, Boston 2021. Bindseil, U., Introduction to Central Banking, Springer Nature 2021, open access book; downloadable at: https://link.springer.com/book/10.1007%2F978-3-030-70884-9
Learningmethods
Lectures
Class Room Discussions
Self Study
Exam
Exam or Assignment
Requirements
Sound Knowledge in Macroeconomics
Total workload
150