Advanced Monetary Policy Analysis

About Course

This course provides in-depth analysis of modern monetary policy, combining theoretical concepts with practical insights into the functioning of central banks, macroeconomic models, and policy frameworks. It explores the evolution of monetary policy tools, their applications, and the challenges faced by central banks in the context of global financial systems.
Expected Outcomes:
By the end of this course, participants will:
1. Understand advanced theories and models of monetary policy.
2. Analyze central bank policy decisions and their impacts on national and global economies.
3. Assess the effectiveness of various monetary policy tools, including interest rate setting,quantitative easing, and forward guidance.
4. Develop the ability to critically evaluate economic conditions and propose appropriate monetary interventions.
5. Understand the relationship between monetary policy and other economic policies, such as fiscal policy and financial regulation.
6. Gain expertise in using econometric models to analyze monetary policy decisions and economic indicators

Expected Outcomes:
By the end of this course, participants will:
1. Understand advanced theories and models of monetary policy.
2. Analyze central bank policy decisions and their impacts on national and global economies.
3. Assess the effectiveness of various monetary policy tools, including interest rate setting, quantitative easing, and forward guidance.
4. Develop the ability to critically evaluate economic conditions and propose appropriate monetary interventions.
5. Understand the relationship between monetary policy and other economic policies, such as fiscal policy and financial regulation.
6. Gain expertise in using econometric models to analyze monetary policy decisions and economic indicators.

Course Content

Module 1: Introduction to Monetary Policy
 Content: Overview of monetary policy; role of central banks; monetary policy goals (price stability, full employment, economic growth).  Learning Outcomes: Understand the primary objectives of monetary policy and the role of central banks in achieving them.

Module 2: Theoretical Foundations of Monetary Policy
 Content: Classical and Keynesian economic models, IS-LM model, the Phillips curve, and expectations-augmented models.  Learning Outcomes: Learn the theoretical underpinnings of monetary policy decisions, with a focus on interest rates, inflation, and economic output.

Module 3: Central Banking and Institutional Frameworks
Content: Structure and functioning of central banks, independence, accountability, and governance.  Learning Outcomes: Understand the roles and responsibilities of central banks in formulating and executing monetary policy.

Module 4: Monetary Policy Tools
Content: Open market operations, discount rates, reserve requirements, quantitative easing, and forward guidance.  Learning Outcomes: Gain insights into various monetary policy tools and their impact on the economy.

Module 5: Transmission Mechanisms of Monetary Policy
Content: Channels through which monetary policy affects the real economy: interest rates, asset prices, exchange rates, credit markets.  Learning Outcomes: Analyze how different transmission mechanisms work in practice.

Module 6: Inflation Targeting and Price Stability
 Content: Inflation targeting frameworks, advantages and challenges, the role of expectations.  Learning Outcomes: Assess the effectiveness of inflation targeting as a strategy for maintaining price stability.

Module 7: Monetary Policy and Financial Stability
 Content: The role of monetary policy in promoting financial stability, the interaction between monetary policy and financial markets.  Learning Outcomes: Examine the intersection of monetary policy and financial regulation, with an emphasis on crisis management.

Module 8: Advanced Models in Monetary Policy Analysis
 Content: New Keynesian models, DSGE (Dynamic Stochastic General Equilibrium) models, and their use in monetary policy analysis.  Learning Outcomes: Develop expertise in applying advanced macroeconomic models to simulate the effects of monetary policy.

Module 9: Global Monetary Policy and Coordination
 Content: The international dimension of monetary policy, policy coordination among central banks, exchange rates, and global economic crises.  Learning Outcomes: Understand the challenges and strategies for coordinating monetary policies across different countries.

Module 10: Current Issues and Future Trends in Monetary Policy
Content: The role of central banks in the post-2008 global financial crisis, the rise of digital currencies, the future of monetary policy in a changing world.  Learning Outcomes: Analyze contemporary debates and future trends in the evolution of monetary policy.

International BSF

Advanced Monetary Policy Analysis

About Course

What Will You Learn?

Course Content

Module 3: Central Banking and Institutional Frameworks
Content: Structure and functioning of central banks, independence, accountability, and governance.  Learning Outcomes: Understand the roles and responsibilities of central banks in formulating and executing monetary policy.

Module 4: Monetary Policy Tools
Content: Open market operations, discount rates, reserve requirements, quantitative easing, and forward guidance.  Learning Outcomes: Gain insights into various monetary policy tools and their impact on the economy.

Module 5: Transmission Mechanisms of Monetary Policy
Content: Channels through which monetary policy affects the real economy: interest rates, asset prices, exchange rates, credit markets.  Learning Outcomes: Analyze how different transmission mechanisms work in practice.

Module 6: Inflation Targeting and Price Stability
 Content: Inflation targeting frameworks, advantages and challenges, the role of expectations.  Learning Outcomes: Assess the effectiveness of inflation targeting as a strategy for maintaining price stability.

About Course

What Will You Learn?

Course Content

Module 3: Central Banking and Institutional Frameworks Content: Structure and functioning of central banks, independence, accountability, and governance.  Learning Outcomes: Understand the roles and responsibilities of central banks in formulating and executing monetary policy.

Module 4: Monetary Policy Tools Content: Open market operations, discount rates, reserve requirements, quantitative easing, and forward guidance.  Learning Outcomes: Gain insights into various monetary policy tools and their impact on the economy.

Module 5: Transmission Mechanisms of Monetary Policy Content: Channels through which monetary policy affects the real economy: interest rates, asset prices, exchange rates, credit markets.  Learning Outcomes: Analyze how different transmission mechanisms work in practice.

Module 6: Inflation Targeting and Price Stability  Content: Inflation targeting frameworks, advantages and challenges, the role of expectations.  Learning Outcomes: Assess the effectiveness of inflation targeting as a strategy for maintaining price stability.

Module 3: Central Banking and Institutional Frameworks
Content: Structure and functioning of central banks, independence, accountability, and governance.  Learning Outcomes: Understand the roles and responsibilities of central banks in formulating and executing monetary policy.

Module 4: Monetary Policy Tools
Content: Open market operations, discount rates, reserve requirements, quantitative easing, and forward guidance.  Learning Outcomes: Gain insights into various monetary policy tools and their impact on the economy.

Module 5: Transmission Mechanisms of Monetary Policy
Content: Channels through which monetary policy affects the real economy: interest rates, asset prices, exchange rates, credit markets.  Learning Outcomes: Analyze how different transmission mechanisms work in practice.

Module 6: Inflation Targeting and Price Stability
 Content: Inflation targeting frameworks, advantages and challenges, the role of expectations.  Learning Outcomes: Assess the effectiveness of inflation targeting as a strategy for maintaining price stability.