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Derivation of the demand for money. Monetary policy under uncertainty. Analysis of alternative monetary rules. Taylor rules. Term structure of interest rates. Financial crises. Economic Growth.
ECON326 is a lectures-based course. There are 12 2-hour lectures. A 1-hour tutorial follows each lecture. The tutorials allow students to hone their problem-solving skills. A guest lecture by Dean Hill, a Senior Manager in the Financial Markets Department of the Reserve Bank of New Zealand, is planned for May 30th.
1. To give students a solid grounding in monetary economics2. To provide a thorough understanding of central bank behaviour3. To explain the advantages and disadvantages of monetary policy strategies4. To discuss central bank action in economic crises.5. To introduce the student to the art of doing independent research.
(1) ECON206; (2) MATH102 or MATH199. RP: ECON207
ECON207
Students must attend one activity from each section.
Alfred Guender
All students must take the final examination and complete a research paper The research paper for ECON326 will be marked on content and presentation. The length of the paper should be between 3000 and 3500 words (or thereabouts) Further information about paper topics will be provided in a separate hand-out. The ‘45% rule’ does not apply to this course. That is, students do not need to reach 45% weighted average across invigilated assessments. Please refer to https://learn.canterbury.ac.nz/course/view.php?id=7744 for further information.Assessment in Te Reo MāoriIn recognising that Te Reo Māori is an official language of New Zealand, the University provides for students who may wish to use Te Reo Māori in their assessment. If you intend to submit your work in Te Reo Māori you are required to do the following: Read the Assessment in Te Reo Māori Policy and ensure that you meet the conditions set out in the policy. This includes, but is not limited to, informing the Course Coordinator 1) no later than 10 working days after the commencement of the course that you wish to use Te Reo Māori and 2) at least 15 working days before each assessment due date that you wish to use Te Reo Māori.
Froyen, Richard T. , Guender, Alfred V; Optimal monetary policy under uncertainty ; Second edition; Edward Elgar Publishing, 2019.
McCallum, Bennett T; International monetary economics ; Oxford University Press, 1996.
McCallum, Bennett T; Monetary economics : theory and policy ; Macmillan, 1989.
There is no required text. Students may find the texts listed above helpful in fostering their understanding of the material discussed in the lectures.
Domestic fee $893.00
International fee $4,200.00
* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.
For further information see Department of Economics and Finance .