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CENTRAL BANKS AND CENTRAL BANKERS (MONETARY POLICY AND CENTRAL BANKING - Old title)

2018-2019

FrIESEG School of Management ( IÉSEG )

Code Cours :

1819-IÉSEG-M1S2-IBE-MA-EE84UE

INTERNATIONAL BUSINESS


Niveau Année de formation Période Langue d'enseignement 
Master1S2FrEnglish
Professeur(s) responsable(s)M.PICAULT
Intervenant(s)Matthieu PICAULT


Pré requis

Bachelor level knowledge of Macroeconomics.
Bachelor level knowledge of Econometrics and Finance.

Objectifs du cours

The purpose of this course is to give students the ability to understand central banks behavior and the effects of their policies on financial markets. After a review of the macroeconomic importance of monetary policy, students will learn the implementation of monetary policy through conventional and unconventional instruments. They will study the impact of such decisions on different market segments such as FX market, money market, sovereign bonds and equity markets.

At the end of the class, students must be able to:
-Explain the functioning of monetary policy and its implementation through different conventional and unconventional instruments.
-Study the relation between the macroeconomic outlook and the monetary policy stance and forecast key interest rates.
-Understand the implication of monetary policy decisions and communications for asset prices (stocks, bonds and exchange rates).

Contenu du cours

Session 1 : Introduction and the objectives of monetary policy.
Session 2 : Monetary policy standard and non-standard instruments.
Session 3 : The asset prices transmission channel.
Session 4 : Understanding the central bank communication.


Modalités d'enseignement

Organisation du cours

TypeNombre d'heuresRemarques
Independent study
Estimated personal workload10,00  
Individual Project10,00  
Group Project15,00  
Face to face
Interactive class16,00  
Charge de travail globale de l'étudiant51,00  

Méthodes pédagogiques

  • Interactive class
  • Project work
  • Research


Évaluation

The evaluation system is based on two projects. On conducted during the course and one at the end of the course.

Type de ContrôleDuréeNombrePondération
Others
Group Project0,00150,00
Individual Project0,00150,00
TOTAL     100,00

Bibliographie

  • The Economics of Money, Banking and Financial Markets, Mishkin, Frederic S, Pearsoon (any edition) -

  • Mishkin, Frederic S. The channels of monetary transmission: lessons for monetary policy. National Bureau of Economic Research, 1996. -

  • Blinder, A. S., Ehrmann, M., Fratzscher, M., De Haan, J., & Jansen, D. J. (2008). Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence. Journal of Economic Literature, 46(4), 910-45. -


Ressources internet



 
* Informations non contractuelles et pouvant être soumises à modification
 
 
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