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040196 UK Money and Banking (MA) (2021S)

Track in Macroeconomic Policy

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften
Continuous assessment of course work


Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).


max. 100 participants
Language: English


Classes (iCal) - next class is marked with N

Thursday 04.03. 09:45 - 11:15 Digital
Thursday 11.03. 09:45 - 11:15 Digital
Thursday 18.03. 09:45 - 11:15 Digital
Thursday 25.03. 09:45 - 11:15 Digital
Thursday 15.04. 09:45 - 11:15 Digital
Thursday 22.04. 09:45 - 11:15 Digital
Thursday 29.04. 09:45 - 11:15 Digital
Thursday 06.05. 09:45 - 11:15 Digital
Thursday 20.05. 09:45 - 11:15 Digital
Thursday 27.05. 09:45 - 11:15 Digital
Thursday 10.06. 09:45 - 11:15 Digital
Thursday 17.06. 09:45 - 11:15 Digital
Thursday 24.06. 09:45 - 11:15 Digital


Aims, contents and method of the course

Aims: Students become familiar with the basic terminology and selected models related to monetary theory, banking, and monetary policy analysis.
Contents: Money and other assets; the monetary-financial architecture; Bitcoin; money as a medium of exchange; interest rates and related concepts; money demand; money supply; asymmetric information; bank runs and insolvency; monetary policy; dynamic inconsistency and the inflation bias; monetary transmission mechanisms.
Methods: The course material is explained in a presentation by the lecturer. Homework exercises will be provided so that students can practise.

Assessment and permitted materials

There will be a mid term exam and a final exam, each one counting for 45%. One of the homework exercises will be graded and contributes 10% to the final grade.

Minimum requirements and assessment criteria

Passing the course requires that half of all possible points from the two exams and the homework exercises are achieved.

Examination topics

Material presented during the lectures plus some selected and specially announced readings.

Reading list

Backus and Driffill (1985): “Inflation and reputation”, American Economic Review 75 (1985), 530-538.
Carlin and Soskice (2006): Macroeconomics: Imperfections, Institutions & Policies, Oxford University Press (2006).
Carlin and Soskice (2015): Macroeconomics: Institutions, Instability, and the Financial System, Oxford University Press (2015).
Diamond and Dybvig (1983): "Bank runs, deposit insurance, and liquidity", Journal of Political Economy 91 (1983), 401–419.
Kiyotaki and Wright (1993): “A search-theoretic approach to monetary economics”, American Economic Review 83 (1993), 63-77.
Mishkin (2016): The Economics of Money, Banking, and Financial Markets, 11th ed. (2016)
McLeay, Radia, and Thomas (2014a): “Money in the modern economy: an introduction”, Bank of England Quarterly Bulletin 2014 Q1.
McLeay, Radia, and Thomas (2014b): “Money creation in the modern economy”, Bank of England Quarterly Bulletin 2014 Q1.
Nakamoto, Satoshi (2008): "Bitcoin: A Peer-to-Peer Electronic Cash System", White Paper, https://bitcoin.org/bitcoin.pdf

Association in the course directory

Last modified: Mo 03.05.2021 11:07