Monetary Economics

This subject is not offered in 2016.

Estimated total time commitment of 120 hours per semester

One of the following 2 subjects:

Plus one of the following subjects:

None

None

ECON40013 Monetary Economics

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

This is an advanced course on modern monetary economics, providing coverage of issues and techniques of analysis used in current research. Topics may include: general equilibrium models of money, inflation and public finance, money and time consistency, search-theoretic models of money, and monetary policy. Both theoretical and empirical issues will be covered.

On successful completion of this subject, students should be able to:

• Evaluate the main theories used in the study of monetary economics;
• Use small analytic models to evaluate monetary theories;
• Use quantitative evidence to evaluate the usefulness and limitations of monetary theories;
• Critically evaluate contemporary policy debates in the area of monetary economics.

• 3-hour end-of-semester examination (50%);
• Problem sets of approx. 4 pages each submitted fortnightly (20%) and
• 1.5 hour mid-semester examination conducted in week 7 (30%).

You will be advised of prescribed texts by your lecturer.

This subject is not available as a breadth subject.

On successful completion of this subject, students should have improved the following generic skills:

• Evaluation of ideas, views and evidence

• Synthesis of ideas, views and evidence

• Strategic thinking

• Critical thinking

• Application of theory to economic policy

• Accessing economic and other information

• Summary and interpretation of information

• Problem solving skills

• Written communication

• Oral communication

Students may not gain credit for both ECON90011 Monetary Economics and ECON40013 Monetary Economics.