Monetary Theory & Policy

This course deals with topics in both monetary theory and monetary policy and is designed for students interested in monetary economics and/or those aiming at working in policy institutions such as central banks. Monetary economics examines the relationship between real economic variables at the aggregate level and nominal variables (such as the inflation rate, nominal interest rates, nominal exchange rates, and the supply of money). Therefore, monetary economics overlaps significantly with macroeconomics. However, students in this class learn the "Money View" framework as their analytical tool as it provides a more in-depth treatment of money and central banking than is customary
in standard macroeconomics textbooks.