Course detail

Central Banking and Monetary Policy

FP-PcbmpPAcad. year: 2014/2015

The course focuses on the following topics: Explanation of monetary categories, monetary theory, theory of interests and monetary policy. Processes connected with functioning and implementation of monetary policy, monetary policy instruments, system of bank regulation and bank control. Position of the Czech National Bank in the Czech and world economy, conversion of currency to EURO.

Language of instruction

Czech

Number of ECTS credits

3

Mode of study

Not applicable.

Guarantor

Ing. Václav Zeman

Department

Institute of Economics (ÚE)

Learning outcomes of the course unit

Students will understand the active monetary policy of the Central Bank, they will deepen their knowledge of the monetary the theory and theory of interests, inflation regulation, direct and indirect instruments of monetary policy, expansive and restrictive monetary policy, intervention, monetary conversion.

Prerequisites

This course is a follow-up to the monetary theory, interests theory, money market, financial assets market, expansive and restrictive monetary policy, model IS-LM, process of generating deposits and further, mostly macroeconomic topics.

Co-requisites

Not applicable.

Planned learning activities and teaching methods

The course is taught through lectures explaining the basic principles and theory of the discipline.

Assesment methods and criteria linked to learning outcomes

The course is concluded by an credit in the form a written test.
Student is classified according ECTS, based on the test:
93 - 100% grade A
85 - 92,9% gr. B
77 - 84,9% gr. C
70 - 76,9% gr. D
60 - 69,9% gr. E
low than 60% gr. F

Course curriculum

1. Money, monetary theory, evolution and emission of money,
2. History of monetary policy on the czech countries
3. Banking system, development of central bank
4. Central bank on the Czech Republic
5. Central bank balance – assets and liabilities structure
6. Central bank monetary policy, monetary aggregates
7. Instruments of monetary policy, money stability
8. Central bank as the banking system controller
9. Monetary theory of demand
10. Monetary theory of supply
11. Inflation, demand-pull inflation, supply-side inflation
12. Czech National Bank and national changeover plan on the Czech Republic
13. Coment about financial crisis in years 2008 - 9

Work placements

Not applicable.

Aims

The main objective of the course is to provide students with the necessary knowledge of principles, goals, instruments and efficiency of monetary policy. Another goal is to deepen student’ knowledge in the field of banking system and monetary policy in the Czech Republic and abroad.

Specification of controlled education, way of implementation and compensation for absences

Control of participation in lectures is fully in teacher’s competence

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

REVENDA,Z. a kol., Peněžní ekonomie a bankovnictví,1.vyd., Praha Management Press, 1996,613s., ISBN 80-85943-06-9 (CS)
REVENDA,Z., Centrální bankovnictví, 2., rozšířené vyd., Praha Management Press, 2001,782 s., ISBN 80-7261-051-1 (CS)

Recommended reading

HOLMAN, R, a kol. Ekonomie, 1.vyd., Praha C.H.Beck, 1999,726s., ISBN80-7179--255-1 (CS)
LIŠKA ,V, a kol. Makroekonomie, 2.vyd. Praha Professional Publishing,2004,628 s., ISBN 80-86419-54-1 (CS)
ŽÁK ,V, a kol. Základy hospodářské politiky,3. vyd., Praha VŠE, 1996, 324s., ISBN 80-7079-160-8 (CS)

Classification of course in study plans

  • Programme MGR Master's

    branch MGR-PFO , 1 year of study, summer semester, compulsory-optional

Type of course unit

 

Lecture

26 hod., optionally

Teacher / Lecturer

Ing. Václav Zeman

Syllabus

 Money, monetary theory, evolution of money,
 Financial market, forms of money issue,
 Banking system, development of central bank
 Central bank on the Czech Republic and EU,
 Central bank balance – assets and liabilities structure
 Central bank monetary policy, monetary aggregates
 Instruments of monetary policy, money stability
 Central bank as banking system controller
 Monetary theory of demand
 Monetary theory of supply
 Inflation, demand-pull inflation, supply-side inflation
 Monetary policy in an open and closed economies
 Future of central banks