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Root number
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10109 |
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Semester
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FS2025 |
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Type of course
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Lecture |
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Allocation to subject
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Economics |
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Type of exam
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not defined |
| Title |
Monetary Theory |
| Description |
*** IMPORTANT ***
For the most updated administrative course information (date changes, room changes etc) please always refer to the KSL page only and not to the Info page in ILIAS – the ILIAS infopage will not be updated!
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The recent two decades have witnessed unprecedented central bank interventions around the world to avert the adverse consequences of the 2007-2008 Great Financial crisis and of the Covid-19 Global Lockdown shock. Moreover, during the recent years, many countries have experienced inflationary surges to which central banks have reacted raising rates to level not seen since the Great Financial crisis. All these events are “testaments” to the effectiveness of monetary policy. This course provides with an understanding of how monetary policy works in a fiat currency system, starting from the control of the value of money to the stabilization of shocks and ending with the discussion of inflation/unemployment trade off. The first part presents a simple monetary model illustrating the three properties of money (unit of account, store of value and medium of exchange) and how central banks can control the value of money. The second part presents the New-Keynesian monetary model, mainly through a simple graphical representation, to study the stabilizing role that monetary policy plays when the economy is hit by standard shocks. The last part revisits the implications of the traditional Phillips curve to explain the recent inflationary surge.
Readings: Benigno, Pierpaolo (2020), Lectures on Monetary Economics.
Language: English
Credits: 4 SWS / 6 ECTS
Evaluation: written exam in English
Lectures:
Tuesday, 16:15 - 18:00h, 105, H4
Wednesday, 14:15 - 16:00h, 105, H4
Exercises with assistant: Stefano Corbellini (stefano.corbellini@unibe.ch)
***please note the lecture on Wednesday, 19.03. takes place in room 115, H4 **********
*** please note the lecture on 09.04. is cancelled due to SUB Jubilee *****
Please see syllabus!
1st Exam: Wednesday, 28. May 2025, 14:15 -15.55h,(100 min), 105, H4
2nd Exam: Wednesday, 10. September, 14:15 - 15:55h, tba (100 min) |
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ILIAS-Link (Learning resource for course)
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No registration/deregistration in CTS (Admission in ILIAS possible).
ILIAS
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Link to another web site
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| Lecturers |
Prof. Dr.
Pierpaolo Benigno, Department of Economics ✉
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ECTS
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6 |
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Recognition as optional course possible
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No |
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Grading
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1 to 6 |
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| Dates |
Tuesday 16:15-18:00 Weekly
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Wednesday 14:15-16:00 Weekly
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Wednesday 10/9/2025 14:15-15:55
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| Rooms |
Seminarraum 105, Hauptgebäude H4
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Seminarraum 115, Hauptgebäude H4
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| Students please consult the detailed view for complete information on dates, rooms and planned podcasts. |
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