Summer 2021 - ECON 811 G100

Advanced Monetary Theory (4)

Class Number: 2969

Delivery Method: In Person

Overview

  • Course Times + Location:

    May 12 – Aug 9, 2021: Wed, 5:30–8:20 p.m.
    Burnaby

Description

CALENDAR DESCRIPTION:

Selected topics in monetary theory and policy.

COURSE DETAILS:

Prerequisites: ECON 807 or ECON 809; or permission of instructor

This course is a graduate-level introduction to research in monetary policy, its methods, and major issues in central banking. We will cover a broad range of topics in the field with a focus on methodological issues. Students will replicate the results of previous computational research to gain experience working with advanced tools. They will develop critical thinking skills by presenting and discussing foundational and recent research. Finally, students will develop their writing and research skills through an independent and original research proposal.

Topics:

The course will cover several topics in monetary policy and central banking including:

  1. Goals of monetary policy
  2. New Keynesian framework
  3. The role of expectations
  4. Rational inattention, incomplete information, sparsity models
  5. Alternative targeting regimes (Price level, nominal GDP, average inflation targeting)
  6. Central banking communication and forward guidance
  7. Stress-testing, financial stability, macro-prudential policy
  8. Inequality and monetary policy
  9. Crypto-currencies and central bank digital currencies
  10. International macro and monetary policy

Grading

  • Paper presentation and discussion 25%
  • Weekly assignments and referee reports 30%
  • Policy brief 30%
  • Active participation in class discussion 15%

Materials

RECOMMENDED READING:

“Monetary Theory and Policy”, by Carl Walsh, 3rd edition, 2010. MIT Press


Graduate Studies Notes:

Important dates and deadlines for graduate students are found here: http://www.sfu.ca/dean-gradstudies/current/important_dates/guidelines.html. The deadline to drop a course with a 100% refund is the end of week 2. The deadline to drop with no notation on your transcript is the end of week 3.

Registrar Notes:

ACADEMIC INTEGRITY: YOUR WORK, YOUR SUCCESS

SFU’s Academic Integrity web site http://www.sfu.ca/students/academicintegrity.html is filled with information on what is meant by academic dishonesty, where you can find resources to help with your studies and the consequences of cheating.  Check out the site for more information and videos that help explain the issues in plain English.

Each student is responsible for his or her conduct as it affects the University community.  Academic dishonesty, in whatever form, is ultimately destructive of the values of the University. Furthermore, it is unfair and discouraging to the majority of students who pursue their studies honestly. Scholarly integrity is required of all members of the University. http://www.sfu.ca/policies/gazette/student/s10-01.html

TEACHING AT SFU IN SUMMER 2021

Teaching at SFU in summer 2021 will be conducted primarily through remote methods, but we will continue to have in-person experiential activities for a selection of courses.  Such course components will be clearly identified at registration, as will course components that will be “live” (synchronous) vs. at your own pace (asynchronous). Enrollment acknowledges that remote study may entail different modes of learning, interaction with your instructor, and ways of getting feedback on your work than may be the case for in-person classes. To ensure you can access all course materials, we recommend you have access to a computer with a microphone and camera, and the internet. In some cases your instructor may use Zoom or other means requiring a camera and microphone to invigilate exams. If proctoring software will be used, this will be confirmed in the first week of class.

Students with hidden or visible disabilities who believe they may need class or exam accommodations, including in the current context of remote learning, are encouraged to register with the SFU Centre for Accessible Learning (caladmin@sfu.ca or 778-782-3112).