Monetary Economics

Code:

1EC302

Acronym:

EM

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2021/2022 - 1S

Active?	Yes
Responsible unit:	Agrupamento Científico de Economia
Course/CS Responsible:	Bachelor in Economics

Cycles of Study/Courses

Acronym	No. of Students	Study Plan	Curricular Years	Credits UCN	Credits ECTS	Contact hours	Total Time
LECO	275	Bologna Syllabus since 2012	3	-	6	63	162

Teaching language

Portuguese

Objectives

To provide undergraduate students, considering the available time and background study, with ample and integrated knowledge about the way monetary policy is able to attain economic policy goals, in the context of closed and open economies, in view of the applicable institutional context. Towards that, the necessary emphasis will be given to monetary policy instruments and its transmission mechanism in the underlying economic theories’ framework.

Learning outcomes and competences

The main objective of this course is that students acquire a good grasp of both monetary theory and policy.

Working method

Presencial

Program

Chapter 1 - Money
Chapter 2 – The demand for money
Chapter 3 – Money supply
Chapter 4 – The conduct of monetary policy
Chapter 5 – Rules in the conduct of monetary policy
Chapter 6 – Money and the theories on the determination of interest rates and prices
Chapter 7 – Interest rates
Chapter 8 – Term structure of interest rates
Chapter 9 – THe Transmission Channels of Monetary Transmission
Chapter 10 – Non-Standard MOnetary Policies

Mandatory literature

Fernandes, Abel Luís C.; Mota, Paulo Tavares; A Teoria e a Política Monetárias na Actualidade, 5ª edição, Almedina, 2020

Complementary Bibliography

Chacholiades, Miltiades; International Monetary Theory and Policy, McGraw-Hill, 1978
Ethier, Wilfred J.; Modern International Economics, W.W. Norton & Company
Nagatani, K.; Monetary Theory, North-Holland, 1978

Teaching methods and learning activities

The course is based on a theoretical component and a practical component where students become familiar with the use of the concepts and the interpretation of results. In order to link the subjects of the course with the economic reality, news from the economic press will be read and interpreted.

Evaluation Type

Distributed evaluation without final exam

Assessment Components

Designation	Weight (%)
Exame	100,00
Participação presencial	0,00
Total:	100,00

Amount of time allocated to each course unit

Designation	Time (hours)
Frequência das aulas	58,50
Estudo autónomo	103,50
Total:	162,00

Eligibility for exams

The continuous evaluation modality consists of two tests.

Calculation formula of final grade

I. Evalaution by tests
a. 2 tests with non-cumulative subjects
b. the 1st test has a weight 0f 40%, the 2nd weights 60%

The final grade according to the evaluation by tests results from the following formula:

Final grade=grade in the 1st test*40%+grade in the 2nd test*60%


II. Final exam evaluation: the final grade is computed according to the following formula:

Final grade= Grade in the final exam

Classification improvement

As in the in the general rule of evaluation of knowledge of the Faculty (RAC).