syllabus-451 - Economics 451 Monetary Theory and Policy...

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Unformatted text preview: Economics 451 Monetary Theory and Policy Spring 2010 Instructor : Professor Ruilin Zhou, 521 Kern, 865-2234, e-mail: [email protected] O ce hours: W 4{5pm, F 12:30{1:30pm, or by appointment Teaching assistant : Koichi Miyazaki, 404 Kern, e-mail: [email protected] O ce hours: M 2{3pm, W 11am{12pm Class meetings: Tu, Th 9:45am{11:00pm, 129 Waring Course objective . This course explores a wide range of topics on the theories of money and banking. The strategy of the course is to develop a simple model of overlapping generations to examine the importance of money, banks, and other nancial institutions in market economies. The topics studied in this framework include: role of money, determination of the medium of exchange, e ects of in ation, role of banks, control of the money supply, and e ect of the national debt on saving and investment. Course materials . Required textbook: Bruce Champ and Scott Freeman, Modeling Monetary Economies , Cam- bridge: Cambridge University Press, 2nd edition, 2001. The approach of this textbook is to present monetary economics from rst principles using the classical paradigm of rational agents in a market setting. The text builds on a simple, clear monetary model and applies this framework consistently to a wide variety of monetary questions. Students interested in a more institutional approach can nd it in Frederic Mishkin, The Economics of Money, Banking, and Financial Markets (Pearson-Addison Wesley, 8th edi- tion, 2006). However, this institutional approach is not going to be used in the course. Course Website . Angel ( Course-related materials, such as the syllabus, problem sets and answers, announcements, will be posted at the course website. Prerequisites . Econ 302 or Econ 304. Guideline . The most e ective way to learn the material in this course is to attend class . This is a theoretical, model-based course. It is very important that you come to class to get a detailed explanation and analysis of each model and the interpretation of the results....
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This note was uploaded on 04/06/2010 for the course ECON 0 at Penn State.

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syllabus-451 - Economics 451 Monetary Theory and Policy...

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