Objectives and competences
In this course students:
1. Enhance their theoretical knowledge in the field of monetary theory and monetary policy and are able to apply it.
2. Gain the ability to apply their theoretical knowledge in practice in the field of monetary policy.
3. Acquire qualitative approach to analysis of the role of money in the economy.
4. Acquire advanced knowledge of basic theoretical approaches in the field of monetary policy.
Content (Syllabus outline)
Functions of money; different kinds of money
Monetary base, money multiplier, credit multiplier
Circulation of money
Money demand and money supply
Money and credit
Monetary mechanism and economic activity
Instruments of monetary policy
EMU- organisation and functioning
Money and credit intermediaries- the role of financial institutions
Impact of monetary policy measures on economy
The structure of international monetary system
Learning and teaching methods
- common lectures;
- case studies;
- team work with active participation
Intended learning outcomes - knowledge and understanding
1. Acquire specific knowledge in the field of monetary theory.
2. Have a detailed knowledge of theories in the field of monetary systems.
3. Learn to recognise interconnections in the field of monetary policy.
4. Develop the skills to interpret the gained results in the monetary policy field.
5. Learn how to analyse and synthesise different approaches in the field of monetary systems and monetary policy.
6. Are able to pursue further analysis regarding monetary policy.
7. Are qualified to control and supervise the application of monetary policy instruments.
8. Can demonstrate awareness of wider social and environmental ethical issues in areas of monetary policy.
Intended learning outcomes - transferable/key skills and other attributes
Cognitive/Intellectual skills:
Students:
1. Understand and apply critical analysis and theory development and their usability in solving real professional problems, with minimum guidance.
2. Get the ability to search for and synthesize new information from the field of monetary theory and monetary policy in literature and praxis.
3. Synthesize different knowledge and procedures and are aware of importance of use of professional literature.
4. Can select appropriate techniques for problem solving and are able to evaluate the importance and significance of data.
5. Can identify key aspects of problem from different view points.
Key/Transferable skills
Students:
1. Further develop skills and expertise in the use of knowledge in a specific working area.
2. Upgrade the ability to become an autonomous learner.
3. Upgrade the ability to apply information technology.
4. Upgrade the ability to work in pairs and groups.
5. Further develop their communication skills in an effective manner to effectively and professionally communicate.
Practical skills:
Students:
1. Get practical experience in the field of monetary systems and monetary policy.
2. Are able to act autonomously with defined guidelines and certain level of supervision.
Readings
Mishkin, F.S. (2009). The Economics of Money, Banking & Financial Markets (9 ali novejša izdaja).
Ribnikar I. (2006). Monetarna ekonomija I, EF: Ljubljana. (izbrana poglavja)
Ribnikar I. (2003). Monetarna ekonomija II. Mednarodni denarni sistem. EF: Ljubljana. (izbrana poglavja)
Ribnikar I. (2003). Monetarna ekonomija III. Denarna teorija. EF: Ljubljana. (izbrana poglavja)
Additional information on implementation and assessment - written examination or two colloquiums
