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Monetary Economics Lecture Notes

Monetary Economics Lecture Notes

Monetary economics for university students. It examines monetary policy in a closed economy, considering a number of models that allow real effects of monetary policy, ranging from new-Classical to Keynesian. Specific models will be introduced and solved, allowing students to see exactly how these models work and what differentiates one from another. It then studies Dynamic Stochastic General Equilibrium Models which brings together insights from Real Business Cycle Models and Keynesian macroeconomics. Finally, it studies uncertainty in monetary economics that is pervasive in macroeconomic modelling and takes the form of data, parameter and model uncertainty and introduces students to the concept of robust monetary policy design.

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