Theory of money and monetary economics

65-006  Theory of money and monetary economics

second cycle master study programme Economics and Finance

Course Supervisor: Assist. Prof. Suzana Laporšek

  Content

  • Money: origin, nature and functions of money; definitions of money; types of money and their evolution; role of money in the economy.
  • Monetary system: definition, elements, types and stages of evolution.
  • Money Supply: money supply and its structure; monetary aggregates and monetary base; model of money supply and money multipliers; factors determining money supply; overview of money creation process.
  • Non-cash payments: principles, forms and their features.
  • Demand for money. Monetary theories.
  • Theoretical basis of the choice of monetary state strategy: Keynessian theory and ISLM model; monetary and fiscal policy in the ISLM model and in a closed and open economy; features of the implementation of monetary and fiscal policies in emerging markets; new quantitative theory; basics of monetary macroeconomic analysis; Patinkin partial market model; impact of monetary policy on economic activity.
  • The price of money and inflation.
  • Monetary policy: objectives and means; transmission mechanisms of monetary policy.
  • Instruments of monetary policy.
  • The monetary policy of the Federal Reserve Department: history and developments.
  • World Monetary System: evolution and prospects of the global monetary system.
  • The foreign exchange market and exchange rate policy: currency market; theory of purchasing power parity; the exchange rate and its impact on the economy; theories on and factors affecting the foreign exchange rates.
  • Monetary policy and instruments for its implementation. Interventions in the foreign exchange market. Features of monetary policies in different countries.
  • The balance of payments and its impact on the exchange rate.
  • The anti-crisis monetary policy of different countries (US, Japan, EU, China) and its effects.
  • Special features of Russian monetary policy and comparison to the EU.

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