Monetary Theory and Banking

General

• Code: 604
• Semester: 6th
• Study Level: Undergraduate
• Course type: Specialization
• Teaching and exams language: Greek
• Teaching Methods (Hours/Week): Lectures and Practice Works (3)
• ECTS Units: 5
• Course homepage: https://elearning.cm.ihu.gr/course/view.php?id=895
• Instructors: Vlachos Vasileios
• Exams Schedule:
  • 03/09/2024, 16:00 - 18:00: Βλάχος

Course Contents

1. Introduction to Monetary Theory – The macroeconomic framework.
2. The monetary and credit system.
3. Fund purchase and interest rate.
4. The Banks.
5. Money offer.
6. Monetary Policy: Tools, Intermediate and Final Goals.
7. The demand for money and the factors that determine it.
8. The exercise of monetary policy in the IS-LM model.
9. The monetary transmission mechanism as a process by which asset prices are affected.
10. Economic and Banking crisis and the proper role of monetary policy.
11. Asset bubbles and credit constraints.
12. Capital allocation and economic development.
13. Monetary policy as the practice of the minimum interest rate and Quantitative Easing.
14. Course outline.

Educational Goals

The purpose of the course is the presentation and analysis of how economic agents (individuals, households, businesses, governments, central banks) make decisions and make choices through the operation of the financial system.

Upon successful completion of the course students will be able to:

• know the concepts of monetary theory.
• understand its effects on wages, employment and unemployment.
• analyze and interpret the basic functions of money.
• interpret and apply the economic logic and methods of monetary policy issues.
• evaluate reports and analyzes that refer to issues of monetary theory and policy.
• acquire the necessary skills to analyze data related to monetary quantities.
• develop the necessary knowledge and skills for further studies at postgraduate level.

General Skills

• Independent work.
• Team work.
• Decision making.
• Working in an international environment.
• Production of free, creative and inductive thinking.

Teaching Methods

• In the classroom, face to face.

Use of ICT means

• Basic software (windows, word, power point, the web, etc.).
• Support of learning process through the electronic platform / e-class.

Teaching Organization

Students Evaluation

Written final exams (60%) that may include:

• Judgemental questions.
• Short answer questions.
• Application exercises.
• True/False and multiple choice questions.
• Composite theoratical questions.

In each question, corresponding evaluation points are specified.
Optional assignment (Essay writing and presentation) corresponds to 40% of the final grade.

Recommended Bibliography

1. ΝΟΜΙΣΜΑΤΙΚΗ ΘΕΩΡΙΑ & ΠΟΛΙΤΙΚΗ, ΒΑΡΕΛΑΣ ΕΡΩΤΟΚΡΙΤΟΣ.
2. Εισαγωγή στην Τραπεζική Οικονομική και τις Κεφαλαιαγορές, Συριόπουλος Κωνσταντίνος, Παπαδάμου Στέφανος.
3. ΝΟΜΙΣΜΑΤΙΚΗ ΘΕΩΡΙΑ & ΠΟΛΙΤΙΚΗ, ΚΟΡΛΙΡΑΣ ΠΑΝΑΓΙΩΤΗΣ.
4. Χρήμα, πίστη, τράπεζες. Μια ευρωπαϊκή προσέγγιση, Howells Peter, Bain Keith.
5. Frederic S. Mishkin “The Economics of Money, Banking, and Financial Markets.” Eleventh Edition, Pearson.
6. 6. Monetary Theory and Policy, 4th ed., Walsh , 2017, MIT Press.