|
|
|
|
|
Objectives
This course is meant to provide a solid understanding of the main building blocks necessary to comprehending current monetary and fiscal policies. Students will learn about the tools, goals and strategies of monetary and fiscal policies, and the theoretical and empirical evidence on the effects of these policies on the economy. The course will also discuss the costs and benefits of the Economic and Monetary Union (EMU) in Europe and the EU fiscal framework, with a particular emphasis on the Stability and Growth Pact (SGP). Further, it will explore budgetary consolidation in the aftermath of the current financial and economic crisis. After successful completion of the course, students will be able to express an educated opinion on the conduct of monetary and fiscal policies and the underlying European institutions that form the framework within which these policies are implemented. Guest lecturers from the Dutch Central Bank and the Finance Ministry will give students the chance to hear directly the views of policy makers on the latest policy issues.
Contents
The most important topics which will be covered are:
- tools of monetary policy and monetary policy strategies;
- monetary transmission mechanism: theory and empirical evidence;
- time-inconsistency problem and central bank independence;
- fiscal transmission channels, stabilization and automatic stabilizers;
- budget consolidation and fiscal sustainability;
- optimal currency areas and EMU fiscal framework.
Registration at
Please go to https://www.sis.uva.nl
Format
Two three hour lectures and two three hour tutorials in weeks 1, 2 and 3. Guest lectures in week 3.
Time
Please go to http://rooster.uva.nl
Study materials
Reader with articles (ca. 500 pages)
Assessment
- Homework sets (10% of final grade);
- Final written examination (three hours, 90% of final grade). Open questions;
- The homework also counts for the resit.
Examination date
Please go to http://rooster.uva.nl and http://www.student.uva.nl/feb-academicyear.
|
|
|
|
|