Monetary Economics

Description

Practical information Course ID: FEB23010 Credits: 4 EC Instruction language: English Registration procedure: Via OSIRIS Secretariat: Support Office Economics, E1-28, 010-4081441, office.ec@ese.eur.nl Course description Content: Monetary economics is a very broad topic area that deals with the effects of money, monetary institutions, and monetary policy on macroeconomic variables such as output, inflation, interest rates, and exchange rates. In this course we focus on monetary policy in the euro area. We discuss the costs and benefits of monetary union, how monetary policy is implemented by the ECB and how the incompleteness of the monetary union may lead to financial instability. Among the possible topics are: What is money and what does it do? Monetary policy strategy and implementation. The various transmission channels of monetary policy. Monetary policy rules and reaction functions. Understanding inflation. The economics of monetary union. This course is an economics course (elective). Learning goals: Understand key principles behind modern monetary theory and policy. Learn the transmission channels of monetary policy to macroeconomic outcomes. Understand specific issues relating to monetary policy in the Economic and Monetary Union (EMU), such as the costs and benefits or monetary union and the fragility of incomplete monetary unions. Work with the economic data and use regression analysis in order to empirically test a monetary relationship. Changes as compared to previous year: None Extra: None Study materials "Economics of Monetary Union", 14th global edition, Oxford University Press, 2022, by Paul de Grauwe Entrance requirements Entrance requirements course enrolment: You must meet the following requirements Enrolled for one of the following degree programmes BSc2 Econometrics ECON-DIV Econometrics and Operations Research Economics and Business Economics International Bachelor Econometrics and Operations Research International Bachelor Economics and Business Economics Premaster Accounting, Auditing & Control Premaster Economics and Business Period Enrolment periods: Enrolment period: 29 September 2025 until 7 November 2025 23:59 Unenrolment: until 7 November 2025 23:59 Period of education: 27 oktober 2025 until 19 december 2025 Assessment Assessment materials: Lecture materials Textbook: Economics of Monetary Union, Paul de Grauwe, 14th edition. Assessments (result in OSIRIS): Test weight: 20; Test weight: 80 Assessment: Resit opportunity