OUR ACADEMIC DEPARTEMENTS |
Lesson details
 | CENTRAL BANKS AND CENTRAL BANKERS (MONETARY POLICY AND CENTRAL BANKING - Old title) | ||
2018-2019 | EnIESEG School of Management
(
IÉSEG
)
| ||
Class code : | 1819-IÉSEG-M1S2-IBE-MA-EE84UE | INTERNATIONAL BUSINESS | |
| Level | Year | Period | Language of instruction |
|---|---|---|---|
| Master | 1 | S2 | EnEnglish |
| Academic responsibility | M.PICAULT |
|---|---|
| Lecturer(s) | Matthieu PICAULT |
- This class exists in these courses :
- IÉSEG > IESEG Degree - Programme Grande École > Semester 2 > 2,00 ECTS
Prerequisites
Bachelor level knowledge of Macroeconomics.
Bachelor level knowledge of Econometrics and Finance.
Learning outcomes
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).
Course description
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.
Class type
Class structure
| Type of course | Numbers of hours | Comments | |
|---|---|---|---|
| Independent study | |||
| Estimated personal workload | 10,00 | ||
| Individual Project | 10,00 | ||
| Group Project | 15,00 | ||
| Face to face | |||
| Interactive class | 16,00 | ||
| Total student workload | 51,00 | ||
Teaching methods
- Interactive class
- Project work
- Research
Assessment
The evaluation system is based on two projects. On conducted during the course and one at the end of the course.
| Type of control | Duration | Number | Percentage break-down |
|---|---|---|---|
| Others | |||
| Group Project | 0,00 | 1 | 50,00 |
| Individual Project | 0,00 | 1 | 50,00 |
| TOTAL | 100,00 | ||
Recommended reading
- 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. -
Internet resources
- Lecture from Prof. Shiller on Monetary Policy
Lecture from Prof. Shiller on Monetary Policy
* This information is non-binding and can be subject to change
