Бакалавриат
2025/2026
Теория денег и денежного обращения
Статус:
Курс по выбору (Международная программа по экономике и финансам)
Направление:
38.03.01. Экономика
Кто читает:
Международный институт экономики и финансов
Где читается:
Международный институт экономики и финансов
Когда читается:
4-й курс, 1-4 модуль
Формат изучения:
с онлайн-курсом
Охват аудитории:
для своего кампуса
Язык:
английский
Кредиты:
10
Контактные часы:
112
Course Syllabus
Abstract
Monetary Economics is a two-semester course compulsory for the fourth-year students studying Economics, and an elective course for those in Economics and Finance and Banking and Finance. It is one of the core courses taught to the fourth-year students at the ICEF. The content of the corresponding University of London course will be covered entirely, but will constitute approximately 70% of the material of the ICEF course. The course focuses on the issues of monetary policy implementation in a closed economy context. The Fall semester covers topics of money creation and monetary transmission mechanisms, inflation and expectations, neutrality of money and introduces the Real Business Cycle Model. The first half of the winter term will cover the classical and Keynesian approaches to the monetary policy and discusses their empirical evidence. The second half of the winter semester examines time inconsistency in monetary policy, uncertainties in monetary policy design and the term structure of interest rates. Pre-requisites This course is an intermediate (advanced undergraduate) level macroeconomics course. However, the course will focus on the microfoundations of macroeconomic issues and modelling. This means explicitly deriving aggregate behaviour from individual preferences and behaviour. A good knowledge of 3rd year Macroeconomics is necessary. Perhaps more importantly, a thorough knowledge and understanding of the General Equilibrium section in the 3rd year Microeconomics course is needed. Students are strongly advised to revise this section of the 3rd year course before the first lecture in Monetary Economics. Students should be comfortable in setting up an individual maximisation problem (utility function, budget constraints, market clearing conditions), setting up a Lagrangian of the maximisation problem, deriving first order (optimality) conditions, deriving individual demand functions from the Lagrangian and finally solving for prices from market clearing conditions. More specifically, students should be comfortable in writing down and solving a two-period economy with 2 agents and a single good each period, each having endowments in each period, trading a bond between the two agents and solving for the equilibrium interest rate. To ensure that students have a comfortable grasp of the above, they are strongly advised, before the first lecture, to go through Section 1 and Section 2.1 (all pages up to and including page 7) of : https://www.dropbox.com/s/bxfiafvyl81dkye/Money%20in%20GE%20week%204%20note.pdf?dl=0