Monetary Economics

INSTRUCTORS:

Marjan Petreski, PhD
Vice-Rector/ Associate Professor / Research Fellow

The course develops a number of theoretical frameworks for the analysis of the determinants of the price level and the rate of inflation, including ones in which monetary disturbances have real effects, that is, ones in which money can be non-neutral. The theoretical frameworks are then used as the basis for the discussion of the relationship between money growth and inflation, monetary stabilization policy, exchange rate policy, and the interaction between monetary and fiscal policy.The operations of commercial and central banking, determination of monetary aggregates and interest rates, and the linkages from Central Bank actions to price level, employment, economic growth, and balance of payments objectives. Coverage of models of monetary economics. The dynamics and real effects of inflation.