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41628-01 - Lecture: Monetary Policy I (3 CP)
| Semester | fall semester 2025 |
| Course frequency | Every fall sem. |
| Lecturers | Sarah Lein (sarah.lein@unibas.ch, Assessor) |
| Content | This course begins with a thorough introduction to the basic New Keynesian macroeconomic model, both from an empirical and a theoretical perspective. This framework has become the workhorse for analyzing monetary policy and its implications for inflation, economic fluctuations, and welfare. We will then use this model as a benchmark to discuss and critically evaluate current empirical research in monetary macroeconomics. The course will be structured around a mix of lecture videos that explain the main models, and in-class sessions that include exercises, computer lab sessions, and more detailed discussions of applications. In the computer lab sessions, students will become familiar with Dynare, the main software used in research to calibrate and estimate New Keynesian models. We will work with simplified versions of the model to illustrate how it can be applied for policy evaluation and practical analysis. Students interested in deepening their knowledge and in discussion more recent issues and challenges in monetary policy are welcome to enrol also in Monetary Policy II, which will start in the second half of the semester. |
| Learning objectives | The main aim of this course is to describe a state-of-the-art macroeconomic general equilibrium framework and use it to analyze the conduct of monetary policy to understand some of the major challenges currently faced by central banks around the world. |
| Bibliography | Lectures (theoretical model): Gali, Jordi (2015), Monetary Policy, Inflation, and the Business Cycle. Princeton University Press. Students can choose to enroll also in the second part of the moneetary policy courses (Monetary Policy II), where we will discuss the most recent research in the area and the current policy challenges. |
| Weblink | Weblink |
| Course application | Registration: Please enroll in the Online Services (services.unibas.ch); Eucor-Students and mobility students of other Swiss Universities or the FHNW first have to register at the University of Basel BEFORE the start of the course and receive their login data by post (e-mail address of the University of Basel). Processing time up to a week! Detailed information can be found here: https://www.unibas.ch/de/Studium/Mobilitaet.html After successful registration you can enroll for the course in the Online Services (services.unibas.ch). Applies to everyone: Enrolment = Registration for the course and the exam! |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| wöchentlich | Tuesday | 14.15-16.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S13 HG.35 |
Dates
| Date | Time | Room |
|---|---|---|
| Tuesday 16.09.2025 | 14.15-16.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S13 HG.35 |
| Tuesday 23.09.2025 | 14.15-16.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S13 HG.35 |
| Tuesday 30.09.2025 | 14.15-16.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S13 HG.35 |
| Friday 03.10.2025 | 16.15-18.00 | Wirtschaftswissenschaftliche Fakultät, Grosses PC-Labor S18 HG.37 |
| Tuesday 07.10.2025 | 14.15-16.00 | Wirtschaftswissenschaftliche Fakultät, Grosses PC-Labor S18 HG.37 |
| Tuesday 14.10.2025 | 14.15-16.00 | Wirtschaftswissenschaftliche Fakultät, Grosses PC-Labor S18 HG.37 |
| Modules |
Core Module: Core Areas in Monetary Economics (Master's Studies: International and Monetary Economics) Module: Field Electives in Economics and Public Policy (Master's Studies: Economics and Public Policy) Module: Fundamentals in Finance and Money (Master's Studies: Finance and Money) Module: Specific Electives in Business and Economics (Master's Studies: Business and Economics) |
| Assessment format | exam |
| Assessment details | Notes for the Assessment: Final exam. |
| Assessment registration/deregistration | Reg.: course registration, dereg: cancel course registration |
| Repeat examination | one repetition, best attempt counts |
| Scale | 1-6 0,1 |
| Repeated registration | one repetition |
| Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
| Offered by | Faculty of Business and Economics |