Monetary Economics (Syllabus)
Content
This class covers recent theoretical and empirical research on monetary policy. Over the last 10 years, monetary policy has experienced a fundamental change. Central banks in Europe, Japan and the US have carried out large-scale open-market operations and are changing their systems of monetary implementation. My goal with the class is to do a blend of a tools course, together with an overview of a literature that studies some recent changes in monetary economics. I will try do be as broad as possible in term of topics, and let students deepen their knowledge on a particular subject on their own. I will build primarily on a core model that we will work to extend little by little. In terms of tools, I will try to introduce students to stochastic-calculus tools. I will also ask students to produce homeworks in Julia. I will not go into the deep questions of why money is essential or why banks exists. I will speak to some of those issues, but I will take a monetary/financial arrangement as given.