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Lecturer(s)
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Course content
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The course - in english language - introduces students to the basics of monetary policy and fiscal policy as two pillars of state economic policy. In the area of monetary policy, student is familiar with the insitute of monetary policy - the central bank and in terms of Czech republic with the Czech National Bank, its main target, mission, monetary vehicles and authority. In the area of fiscal policy the course continues with a discussion of public budgets with detail study of national budget. The course includes the current analysis of fulfilment the Maastricht criterion - price stability, government budget deficit and government debt-to-GDP ratio, exhange rate in mechanism ERM II and long term interest rates, which have both monetary and fiscal character.
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Learning activities and teaching methods
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Monologic Lecture(Interpretation, Training), Dialogic Lecture (Discussion, Dialog, Brainstorming), Work with Text (with Book, Textbook), Methods of Written Work
- Attendace
- 25 hours per semester
- Homework for Teaching
- 25 hours per semester
- Preparation for the Exam
- 25 hours per semester
- Preparation for the Course Credit
- 25 hours per semester
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Learning outcomes
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The main target of the subject is to introduce - in english language - the main principles and solutions of economic policies - monetary and fiscal ones. The subject focuses mainly on their mutual relations, connections and possible collisions in their application within concentration of english monetary and fiscal vocabulary. In the area of monetary policy student focuses on the institute of central bank and use its main monetary vehicles and in the are of fiscal policy on public budgets and dealing with the problem of fiscal deficit.
Student is well oriented - in english vocabulary - in main aspects and activities of monetary and fiscal policy and understand the mechanism of its operations and its possible synergies and conflicts as well. Student is possible to give a definition of the main subjects of menetary and fiscal policies both in the Czech republic and European Union. Student understands the current development in the area of monetary and fiscal policy and its possible future direction.
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Prerequisites
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There are not any special conditions set. The subject is implemented within the project "Inovace výuky ekonomických disciplín na Univerzitě Palackého a její propojení s praxí", CZ.1.07/2.2.00/28.0027, which is co-financed by European Social Fund and by the state budget of Czech republic.
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Assessment methods and criteria
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Oral exam, Written exam, Seminar Work
Active attendance in lessons. Credit test/ seminar work. Exam test with oral exam. Grading scale: A 91-100 B 82-90 C 73-81 D 64-72 E 55-63
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Recommended literature
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Atkinson, A., Stiglitz, J. (2015). Lectures on public economics. New Jersey: Princeton University Press.
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Currie, D. (2017). Country analysis - evaluating monetary policy. New York: Gower Book.
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Faure, A. (2016). Central banking and monetary policy: an introduction. Boston: Addams Books.
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Miller, R., Benjamin, D., North, D. (2014). Economics of Public Issues, 18th. ed.. Texas, Arlington: IUS.
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Prakash, O. (2013). Essentials of public finance and public economics. New York: Vishal Publishing.
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Sauter, O. (2014). Monetary policy under uncertainty. New York: Springier.
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Simpson, T. (2014). Financial markets, banking, and monetary policy. New York: John Willey and Sons.
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