2023/2024 KAN-CMECV1248U Monetary Policy
English Title | |
Monetary Policy |
Course information |
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Language | English |
Course ECTS | 7.5 ECTS |
Type | Elective |
Level | Full Degree Master |
Duration | One Semester |
Start time of the course | Autumn |
Timetable | Course schedule will be posted at calendar.cbs.dk |
Max. participants | 50 |
Study board |
Study Board for HA/cand.merc. i erhvervsøkonomi og matematik,
MSc
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Course coordinator | |
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Main academic disciplines | |
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Teaching methods | |
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Last updated on 11-09-2023 |
Relevant links |
Learning objectives | ||||||||||||||||||||||
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Course prerequisites | ||||||||||||||||||||||
It is advisable for the students to have taken a macroeconomics course prior to this elective | ||||||||||||||||||||||
Examination | ||||||||||||||||||||||
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Course content, structure and pedagogical approach | ||||||||||||||||||||||
The course provides an overview of models in monetary economics, with a special emphasis on New Keynesian models and their implications for monetary policy. The course will also discuss the possible implementation of Central Bank Digital Currencies.
Topics:
In relation to Nordic Nine principles the course provides a theoretical framework so students can understand, analyze, and communicate monetary policies. And we want our students to be able to participate in interdisplinary work processes to make informed decisions about the business environment. All of this relates to the Value principle that:
“you are critical when thinking and constructive when collaborating”
Second, by the very nature of macroeconomic data and macroeconomic modelling, the course relates to the Knowledge principle that:
“you are analytical with data and curious about ambiguity”
Finally, monetary policy theories taught in this course aim at maximizing welfare to the current and future generations and that directly relates to the Action principle that:
“you produce prosperity and protect the prosperity of next generations”.
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Description of the teaching methods | ||||||||||||||||||||||
The course is composed of 10 weekly three-hour classes. These class activities will involve derivation and analysis of models. We will also take the opportunity to follow and discuss current monetary policies being conducted by the major central banks in the world (FED, ECB, Bank of England, etc). | ||||||||||||||||||||||
Feedback during the teaching period | ||||||||||||||||||||||
During some of the lectures, we will solve exercises in class, where there will be opportunities for providing feedback to the students. Moreover, students will be able to receive feedback during regular office hours. | ||||||||||||||||||||||
Student workload | ||||||||||||||||||||||
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Expected literature | ||||||||||||||||||||||
Jordi Gali (2015): Monetary Policy, Inflation and the Business Cycle. An Introduction to the New Keynesian Framework, Princeton University Press (Princeton, NJ), ISBN: 9780691164786
Further recommended readings and journal articles will be posted on Canvas |