| 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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This course is designed as a presentation of the main theories in monetary economics that are commonly used in central banks. It starts with a survey of the key empirical results pertaining macroeconomic fluctuations over the last several decades, and it then discusses how alternative macro models can—or cannot—explain the facts. We then investigate the design of monetary policy, starting with Taylor rules and moving to optimal monetary policy. About one third of the class is based on: Gali, Jordi (2008), Monetary Policy, Inflation and the Business Cycle, Princeton University Press. The rest of the class is based on papers, and on class notes.
Additional readings:
- Walsh, Carl (2017), Monetary Theory and Policy, 2nd edition, MIT Press
- Friedman, Benjamin, and Woodford, Michael (2011), Handbook of Monetary Economics, North Holland
Credits: 4 SWS / 6 ECTS
Evaluation: Three homeworks, last homework has to be handed on the last day of class and a final exam.
Participation: please register in KSL (open: January 8th until February 5th, 2025)
Lecture:
Monday and Tuesday, 08.15-10.00 hrs, PC Pool A322
Start: Monday, February 17, 2025, 08:15-10:00h, PC-Pool A322 UniS
1.Exam: Monday, May 26, 2025, 08:15-10.00h, A222, UniS
2.Exam: Monday, September 8, 2025, 08:15-10:00, tba |
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