Monetary Theory

Modelling a role for money in economics is not trivial. We will study different models of money and credit. This will help us better understand the nature of money and how it is related to monetary policy.

When and Where:

  • 28.09.2011, 16:15—18:00, 07-001
  • 05.10.2011, 16:15—18:00, 07-001
  • 12.10.2011, 16:15—18:00, 07-001
  • 19.10.2011, 16:15—18:00, 07-001
  • 16.11.2011, 15:15—18:00, 22-001
  • 07.12.2011, 16:15—18:00, 07-001
  • 14.12.2011, 16:15—18:00, 07-001

Exam:

The exam consists of the following three elements:

  • Individual presentation (60%)
  • Short paper (in group of 2—3 students, 30%)
  • Active participation in the course (10%)

Topics Discussed:

  • Lagos and Wright (2005);
  • Kocherlakota (1998);
  • Mechanism Design Approach to Monetary Theory (Wallace);
  • Financial Intermediation (Tobias/Shin);
  • Search Theory in Monetary Theory.