Building on the material covered in the undergraduate course “Monetary Theory and Policy,” this course addresses more advanced topics and recent developments in the field of monetary policy. The focus is on the New Keynesian model with price rigidities.
| Course Language | Frequency | Hours per week | ECTS | Examination |
|---|---|---|---|---|
| English | Summer semester | 2 Lecture + 2 Exercise | 6 | 90-minute written exam |
Contents
- Empirical Evidence on Money, Output, and Prices
- Monetary Theory with Flexible Prices
- Money in the Neoclassical Growth Model (Tobin 1965)
- Money in the Utility Function (Sidrauski 1967)
- A Classical General Equilibrium Model
- Monetary Theory with Rigid Prices
- A (New) Keynesian Model of a Closed Economy with Price Rigidities
- Empirical Findings from DSGE Models
- Selected Issues in Monetary Policy
- Optimal Monetary Policy (in the New Keynesian Model)
- Monetary Policy in the Current Financial and Economic Crisis
