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10645-01 - Lecture: Monetary Theory 6 CP

Semester spring semester 2019
Course frequency Every spring sem.
Lecturers Florian Madison (, Assessor)
Content Following the onset of the financial crisis, liquidity shortages caused great concern. Meanwhile, excess liquidity has become a challenge. In this lecture, we will be asking what function liquidity fulfills in a modern economy. We will be looking at the kind of frictions that make money essential and consider the role of credit and financial intermediation. On this basis, we will discuss various micro- and macroeconomic aspects of monetary theory and monetary policy.
Learning objectives Study the microfoundations of monetary theory.
Bibliography The lecture is based on the book "Money, Payments, and Liquidity" (MIT Press, 2nd edition) by Guillaume Rocheteau from the University of California-Irvine and Ed Nosal from the Federal Reserve Bank of Chicago. Additional to that, we will discuss individual research papers at the frontier of monetary economics. It is expected that the students acquire the book. Relevant papers will be uploaded to the website.

Comments Lecture and Exercises (entire day): May 3&4; May 10&11; May 17&18
Exam: May 24
Seminar: June 7&8
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Admission requirements Prerequisites:
Completed BA in Business und Economics.
Course application Registration: Please enrol in MOnA. EUCOR-Students and students of other Swiss Universities have to enrol at the students administration office ( within the official enrolment period.
Enrolment = Registration for the exam!
A deregistration is possible by email to until 4 May 2019, 8 pm.
Language of instruction English
Use of digital media No specific media used
Course auditors welcome


Interval Weekday Time Room

No dates available. Please contact the lecturer.

Modules Core Module: Core Areas in Monetary Economics (Master's Studies: International and Monetary Economics)
Specialization Module: Monetary Economics and Financial Markets (Master's Studies: Business and Economics)
Assessment format end-of-semester examination
Assessment details Written exam and seminar presentations. In the seminar, students will present a paper at the research frontier of monetary theory. The final grade is a weighted average of the exam and the presentation. The participation in the entire seminar is mandatory.
Exam: 24.05.19; 14:15-15:45. WWZ S15: A-Z.

Assessment registration/deregistration Reg.: course registr.; dereg.: Office of the Dean of Studies
Repeat examination no repeat examination
Scale 1-6 0,1
Repeated registration as often as necessary
Responsible faculty Faculty of Business and Economics ,
Offered by Faculty of Business and Economics