Simon Fraser University
Engaging the World

Course Outlines

Fall 2023 - ECON 811 G100

Advanced Monetary Theory (4)

Class Number: 4084

Delivery Method: In Person

Overview

  • Course Times + Location:

    Sep 6 – Dec 5, 2023: Mon, 2:30–5:20 p.m.
    Burnaby

    Oct 10, 2023: Tue, 2:30–5:20 p.m.
    Burnaby

Description

CALENDAR DESCRIPTION:

Selected topics in monetary theory and policy.

COURSE DETAILS:

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. Tackling the zero lower bound
  7. Central banking communication and forward guidance
  8. Central bank digital currency
  9. Inequality and monetary policy

Prerequisites:

Econ 807 or Econ 809; or by permission

Grading

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

Materials

REQUIRED READING:

None

RECOMMENDED READING:

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


REQUIRED READING NOTES:

Your personalized Course Material list, including digital and physical textbooks, are available through the SFU Bookstore website by simply entering your Computing ID at: shop.sfu.ca/course-materials/my-personalized-course-materials.

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 website 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

RELIGIOUS ACCOMMODATION

Students with a faith background who may need accommodations during the semester are encouraged to assess their needs as soon as possible and review the Multifaith religious accommodations website. The page outlines ways they begin working toward an accommodation and ensure solutions can be reached in a timely fashion.