MONETARY ECONOMICS

Course Information
TitleΝΟΜΙΣΜΑΤΙΚΗ ΟΙΚΟΝΟΜΙΚΗ / MONETARY ECONOMICS
Code12ΥΣ09
FacultyEconomic and Political Sciences
SchoolEconomics
Cycle / Level1st / Undergraduate
Teaching PeriodWinter/Spring
CoordinatorAthanasios Kazanas
CommonYes
StatusActive
Course ID600016368

Programme of Study: UPS School of Economics (2013-today)

Registered students: 133
OrientationAttendance TypeSemesterYearECTS
OIKONOMIASCompulsory Course belonging to the selected specialization (Compulsory Specialization Course)636
DIOIKĪSĪ EPICΗEIRĪSEŌNElective Courses633

Class Information
Academic Year2020 – 2021
Class PeriodSpring
Faculty Instructors
Weekly Hours4
Class ID
600178248
Course Type 2011-2015
Knowledge Deepening / Consolidation
Mode of Delivery
  • Distance learning
Digital Course Content
Language of Instruction
  • Greek (Instruction, Examination)
Prerequisites
General Prerequisites
Basic and advanced knowledge of Microeconomics and Macroeconomics. Basic knowledge of Mathematics and Econometrics.
Learning Outcomes
Upon successful completion of the course, students will: • explain and describe why people hold money and why money is used in transactions • solve macroeconomic models and assess the role and effectiveness of monetary policy for different types of models, both in Classic and Keynesian environments • describe and explain the main channels of the monetary policy transmission mechanism, through which monetary policy can have real effects on the economy • describe the advantages and disadvantages of the different monetary policies used by Central Banks • introduce the idea of uncertainty observed in data and parameters and describe policies under uncertainty
General Competences
  • Apply knowledge in practice
  • Retrieve, analyse and synthesise data and information, with the use of necessary technologies
  • Adapt to new situations
  • Make decisions
  • Work autonomously
  • Work in teams
  • Work in an international context
  • Work in an interdisciplinary team
  • Generate new research ideas
  • Be critical and self-critical
  • Advance free, creative and causative thinking
Course Content (Syllabus)
Course Overview: What is money? What determines the prices of the goods and services we buy? Why have we experienced persistent inflation since the early 20th century? What is a central bank? What are the important features of central bank function and design? What do we mean by liquidity, and why is it important? What is an interest rate, and why are there so many interest rates? How do central banks affect interest rates, and how do interest rates affect the economy? What is a yield curve? What should central banks do during a recession? What happens during a financial crisis? How should central banks react to financial crises? This course is focused on monetary theory and how monetary policy interacts with the aggregate economy. It aims to provide students with some tentative answers to the questions listed in the paragraph above, as well with a set of tools to continually evaluate these and similar questions in the future. The course builds off of the basic tools of micro and macroeconomics. It is assumed that students have taken both intermediate micro and macro and have a working grasp of calculus.
Educational Material Types
  • Notes
  • Slide presentations
  • Interactive excersises
  • Book
Use of Information and Communication Technologies
Use of ICT
  • Use of ICT in Course Teaching
  • Use of ICT in Laboratory Teaching
  • Use of ICT in Communication with Students
  • Use of ICT in Student Assessment
Course Organization
ActivitiesWorkloadECTSIndividualTeamworkErasmus
Lectures521.9
Laboratory Work140.5
Tutorial120.4
Project401.4
Written assigments461.6
Exams40.1
Total1686
Student Assessment
Description
1. A written exam at the end of the semester and a mid-term exam, laboratory exercises, preparation and presentation of a paper, assignments (70% written exam and 30% of the assignments). 2. Those who do not participate in the mid-term will take the final exam in all the material.
Student Assessment methods
  • Written Exam with Multiple Choice Questions (Summative)
  • Written Exam with Short Answer Questions (Summative)
  • Written Exam with Extended Answer Questions (Summative)
  • Written Assignment (Summative)
  • Performance / Staging (Summative)
  • Written Exam with Problem Solving (Summative)
Bibliography
Course Bibliography (Eudoxus)
1. Κορλίρας, Π., (2006). «Νομισματική Θεωρία και Πολιτική», Εκδόσεις Μπένου. 2. Mishkin, Frederic, (2019). «Τα Οικονομικά των Χρηματαγορών, της Τραπεζικής και των Χρηματοπιστωτικών Αγορών», 11η έκδοση, Εκδοτικός Όμιλος ΙΩΝ. 3. Williamson, S. (2018). «Μακροοικονομική», Εκδόσεις Α. Τζιόλα & ΥΙΟΙ Α.Ε.
Additional bibliography for study
4. Καλυβίτης Σ. και Βλαχάκη Ε., (2011). «Διεθνής Νομισματική και Μακροοικονομική Ανοικτής Οικονομίας», Εκδόσεις Gutenberg. 5. Σιδηρόπουλος, Μ. (2016). «Μακροοικονομική Θεωρία και Πολιτική», Εκδόσεις Μάρκου Ι. Γ. & Σία. 6. Οικονομίδης Γ. και Φιλιππόπουλος Α., (2017). «Υποδείγματα Μακροοικονομικής Θεωρίας και Πολιτικής», Εκδόσεις ΟΠΑ. 7. Bofinger, P., (2001). «Monetary Policy: Goals, Institutions, Strategies and Instruments», Oxford University Press. 8. Garín, J., Lester, R. and Sims, E., (2018). «Intermediate Macroeconomics», Lecture notes. https://www3.nd.edu/~esims1/gls_int_macro.pdf 9. Howells, P. and Bain, K., (2009). «Χρήμα, Πίστη, Τράπεζες: Μια Ευρωπαϊκή Προσέγγιση», Εκδόσεις Κριτική. 10. Mankiw, N.G. & Taylor, M.P. (2016). «Οικονομική», Εκδόσεις Α. Τζιόλα & ΥΙΟΙ Α.Ε. 11. McCallum, T., B., (2002). «Νομισματική Θεωρία και Πολιτική», Εκδόσεις Κριτική. 12. Walsh, E., C., (2017). «Monetary Theory and Policy», MIT Press.
Last Update
11-01-2022