This course introduces the concept of money; what it is, why we use it and how it is created. It examines monetary policy in a closed economy, considering a number of models that allow real effects of monetary policy, ranging from new-Classical to Keynesian. Finally, it studies uncertainty in monetary economics that is pervasive in macroeconomic modeling and takes the form of data, parameter and model uncertainty and introduces students to the concept of robust monetary policy design.
The course follows the mandatory University of London syllabus for Monetary Economics that is a model-based approach to monetary economics. Each chapter introduces one or more models that, when solved, show the linkages between monetary variables (money supply or interest rates, for example) and other variables such as output or inflation. Any mathematics that is used in this course is limited to simple calculus (differentiation), algebra and basic statistics and econometrics. What is most important is the intuition behind the models, which can often be demonstrated easily using diagrams.
- Предавач: Мирјана Глигорић Матић
- Предавач: Диана Драгутиновић
- Предавач: Велимир Лукић
- Предавач: Светлана Поповић