COURSE INFORMATION
Course Title: INTERNATIONAL MONETARY POLICY AND THEORY
Code Course Type Regular Semester Theory Practice Lab Credits ECTS
ECO 806 C 2 3 0 0 3 10
Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature) NA
Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours: Chrysanthi Balomenou
Second Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours: NA
Teaching Assistant(s) and Office Hours: NA
Language: English
Compulsory/Elective: Elective
Classroom and Meeting Time: 15:30-18:30
Course Description: This course is designed to guide you through the world of financial institutions and help you create a unique understanding of the complexity and interaction between these institutions. After taking this course, you will be able to understand the major types of financial institutions in Albania and how their activity affects economic life in our economy; how they are regulated; and how central bank interacts with financial institutions to manage economic outcomes. The course strives for the right mixture of theory, and practice grounded in the reality of the markets. The classes will be highly interactive and require active participation throughout.
Course Objectives: The main aim of this course to teach how to improve students’ academical and analytical skill on international monetary policy and theory
COURSE OUTLINE
Week Topics
1 Introduction
2 Elaborating 3 separate research project/literature/data/modelling
3 Theoretical ground of monetary theory and policy- Time evolution
4 The interaction between monetary and macroprudential policy
5 Assessing the cyclical behavior of bank capital buffers in a finance-augmented macro-economy
6 The International Monetary System and the Available International Policy Options for Emerging Countries
7 Friedman, Monetarism and Quantitative Easing
8 Asymmetric effects of exchange rates on foreign trade in non-eurozone EU countries
9 How different monetary rules lead to different performances during the crises
10 Importance of the European Banking Union-New Directives
11 How to fix global banking
12 The Effectiveness of Basel III against Banking Crises and Contagion
13 Bank recapitalization: A necessary but not sufficient condition
14 Specific Factors and International Monetary Policy Coordination
Prerequisite(s):
Textbook:
Other References:
Laboratory Work:
Computer Usage:
Others: No
COURSE LEARNING OUTCOMES
1 Discuss the implications for increased financial integration on exchange rate and monetary policy
2 Understand Friedman's monetarism and quantitative easing
3 Investigate the effects of exchange rates on foreign trade
4 Analyse how the capital buffer held by banks behave over the business cycle
5 Comprehend the importance of European Banking Union
6 Investigate the effectiveness of Basel III against banking crisis
COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES
(Blank : no contribution, 1: least contribution ... 5: highest contribution)
No Program Competencies Cont.
Doctorate (PhD) in Economics: Banking and Finance profile Program
1 The students are gained the ability to look at the problems of daily life from a broader perspective. They gain the needed skills not only to understand economic problems but also to construct a model and defend in meaningful way. 5
2 To comprehend the interaction between economics and related fields; to achieve original results by using expert knowledge in analysis, synthesis and evaluation of new and complex ideas. 5
3 To be able to obtain new knowledge in economics systematically and to acquire high level skills in research methods in economics. 4
4 To be able to develop new methods that make a contribution to science or to be able to apply existing techniques to an original research idea. 4
5 They have ability to use mathematical and statistical methods in international economics. 4
6 They know how to use computer programs in both daily office usage and statistical data evaluations in economics department. 3
7 They have necessary economics skills that needed in private and public sector. 5
8 They are intended to be specialist in one of departmental fields that they choose from the list of general economics, finance economics, public finance, corporate finance, finance management, international finance markets and institutions, banking and central banking, international finance and banking, money and banking, international trade and banking. 5
9 They have ability to utilize fundamental economic theories and tools to solve economic problems in international level. 5
10 They are aware of the fact that international economics is a social science and they respect the social perspectives and social values of the society’s ethics. 5
COURSE EVALUATION METHOD
Method Quantity Percentage
Presentation
1
50
Term Paper
1
50
Total Percent: 100%
ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)
Activities Quantity Duration(Hours) Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours) 16 3 48
Hours for off-the-classroom study (Pre-study, practice) 16 4 64
Mid-terms 0
Assignments 1 18 18
Final examination 0
Other 6 20 120
Total Work Load:
250
Total Work Load/25(h):
10
ECTS Credit of the Course:
10