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Lecturer(s)
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Kročil Ondřej, Mgr. Ph.D.
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Course content
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1. Monetary policy - bases, principles, objectives 2. Monetary policy in the EU - historical development, formation, reasons, main stages 3. Monetary policy in the EU at present - main objectives and alternative monetary policy objectives 4. The European Central Bank - structure, organization, activity 5. The European Central Bank - Monetary Policy Instruments I. 6. European Central Bank - Monetary Policy Instruments II. 7. Eurozone, European System of Central Banks 8. Entry into the euro area, non-euro area membership, reasons, benefits, risks 9. Maastricht convergence criteria 10. Current objectives and challenges for the single monetary policy in the EU and the euro area 11. Comparison between the ECB and the Federal Reserve System and other central banks 12. Summary, repetition, conclusion
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Learning activities and teaching methods
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Monologic Lecture(Interpretation, Training), Dialogic Lecture (Discussion, Dialog, Brainstorming), Work with Text (with Book, Textbook)
- Attendace
- 25 hours per semester
- Preparation for the Course Credit
- 25 hours per semester
- Preparation for the Exam
- 25 hours per semester
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Learning outcomes
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The main target of the subject is to introduce the leading aims of monetary policy in eurozone. Students are well aquianted with the guarantor of monetary policy - the European Central Bank (ECB), its structure and its main monetary vehicles. The part of ECB operation is its independence as essential pillar of its successful accomplishing. The target is also focused on actuall issues in the area of monetary policy in the period of post-financial crisis and possible solutions to its prevention.
Student is oriented in the wide area of problems of monetary policy, especially monetary policy in eurozone. Student understands the main principles of monetary instruments and vehicles and impacts of monetary policy to real economy as well. Student is well informed about main operations of the European Central Bank, its role, target and independence. Student is possible to give a definition of main priciples of monetary policy at a present time and ability of monetary policy to maintain the price stability and sustainable economic growth.
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Prerequisites
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There are not any special conditions set. The subject is implemented within the project "Inovace výuky ekonomických disciplín na Univerzitě Palackého a její propojení s praxí", CZ.1.07/2.2.00/28.0027, which is co-financed by European Social Fund and by the state budget of Czech republic.
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Assessment methods and criteria
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Oral exam, Written exam, Seminar Work
Active attendance in lessons. Credit test/ seminar work. Exam test with oral exam.
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Recommended literature
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Brůna, K. a kol. (2015). Spor o měnovou politiku. Praha: IVK.
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Issing, O., Gaspar, V. (2014). Monetary policy in the Euro area. United Kingdom: Cambridge University Press.
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Kubátová, K. a kol. (2015). Fiskální a monetární politika po velké recesi. Praha: Nakladatelství Aleš Čeněk.
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Plchová, B., Abrhám, J., Helísek, M. (2016). Česká republika a EU: ekonomika - měna - hospodářská politika. Praha: Krigl.
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Revenda, Z. a kol. (2017). Peněžní ekonomie a bankovnictví, 5. vyd.. Praha: Management Press.
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Revenda, Z. (2015). Centrální bankovnictví, 3. vyd.. Praha: management Press.
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Revenda, Z. (2015). Peníze a zlato, 2. vyd.. Praha: Management Press.
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