- Teacher: Cyril Monnet
The class is an introduction to monetary economics broadly understood. In addition to developing the economic intuition, the class presents the standard modelling tools that students will need for conducting research or reading papers in monetary economics. Therefore, the course entails a fair amount of conceptualization. Students will become familiar with the technical tools used in modern macroeconomics.
The issues covered include the statistical and economic definition of money, inflation, central bank balance sheets, the optimality of the public or private provision of money, and forays into financial intermediation for example when tackling credit. New forms of money will also be discussed if time allows.
Students will be introduced to important economic concepts such as limited commitment, time inconsistency of economic policy, as well as the aggregate consequences of strategic complementary, and decentralization.
The slides for each class will be made available shortly before the lecture, so students in class can focus their attention on understanding the concepts covered.
Weekly review sessions cover the methods used in the class in more details and are used to present the solution to weekly problem sets. Problem sets will be given in class. Students are expected to hand over their solution (either in class or by email before class).
The final grade for the course is calculated based on a final (take-home) exam (50%) and the grade on problem sets (50%).
The course meets on :
- Wednesday 8:15-10:00 in Uni-Mail M R030 and
- Thursdays 8:15-10:00 in Uni-Mail M S040.