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    Monetary Economics Syllabus

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    Justin Aryan
    The document outlines a course on monetary economics. The course covers topics like supply and demand for money, theories of inflation, and monetary policy over 5 units. It aims to help students understand the relationship between money and the real economy and evaluate the role of monetary authorities.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Monetary Economics Syllabus

    Uploaded by

    Justin Aryan
    12 views2 pages
    The document outlines a course on monetary economics. The course covers topics like supply and demand for money, theories of inflation, and monetary policy over 5 units. It aims to help students understand the relationship between money and the real economy and evaluate the role of monetary authorities.

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    Mon

    Original Title

    MONETARY ECONOMICS SYLLABUS

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    The document outlines a course on monetary economics. The course covers topics like supply and demand for money, theories of inflation, and monetary policy over 5 units. It aims to help students understand the relationship between money and the real economy and evaluate the role of monetary authorities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    12 views2 pages

    Monetary Economics Syllabus

    Uploaded by

    Justin Aryan
    The document outlines a course on monetary economics. The course covers topics like supply and demand for money, theories of inflation, and monetary policy over 5 units. It aims to help students understand the relationship between money and the real economy and evaluate the role of monetary authorities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Course

    Credits:
    Code: Course Title: MONETARY ECONOMICS Hours: 60
    4

    Objectives

     To capture the influence of money on the real economy.


     To provide an understanding of the role of monetary policy.

    Learning Outcomes

    After completion of this course, students will be able to:


     Analyze the relationship between money and real economy.
     Evaluate the role of monetary policy for the smooth functioning of the economy.
     Appraise the importance of monetary authority in regulating the economy.

    COURSE CONTENTS
    Unit 1 Supply of Money 10
    Hours
    Definition and Kinds of money – Functions of money - Significance of money in a modern
    economy. Sources of money supply –High powered money - money multiplier and its
    determinants; Budget deficits and money supply; money supply in open economy; control of
    money supply.
    Unit 2 Demand for Money 12 Hours
    Classical approach to demand for money-Quantity theory approach – Fisher’s equation -
    Cambridge quantity theory – Neutrality of money, Classical dichotomy –The Keynesian
    theory of demand for money – Keynesian theory of interest - Changes in the money market
    and the interest rate – Gurley and Shaw’s thesis of liquidity of money – Radcliff Sayers thesis
    – Patinkin’s monetary theory.
    Unit 3 Post – Keynesian Theories of Demand for Money 13 Hours
    Baumol’s approach to Transaction Demand for money – Tobin’s theory of speculative
    demand for money - The portfolio optimization approach – Friedman’s Quantity theory of
    money- Crisis in Keynesian economics and the revival of monetarism; Mundell – Fleming
    model Asset markets, expectations and exchange rates; Monetary approach to balance of
    payments.
    Unit 4 Theory of Inflation 13 Hours
    The classical theory of inflation – The Keynesian theory of inflation – The monetarist view
    on inflation – Modern theories of inflation – Inflation in UDC’s – The economic effects of
    inflation – Measures to control inflation - Phillips curve – Inflation and the rate of
    unemployment – Modification in Phillip’s curve – Implications of Philip’s curve – Deflation.
    Unit 5 Monetary Policy 12 Hours
    Meaning and Scope of Monetary policy – Instruments of monetary policy – Transmission
    mechanism of monetary policy – The limitations and effectiveness of monetary policy-
    Efficiency of Monetary Policy – Monetary Policy with informal Financial Markets –
    Monetary – Fiscal Co-ordination - An analysis of IS&LM curve.

    Essential Reading

    Paul, R.R. (2016 ). Monetary Economics. Bengaluru: Kalyani Publishers.

    References

     Jhingan. M.L. (2012).Monetary Economics. Seventh. Edition, New Delhi: Vrinda


    Publication Pvt. Ltd.
     Dwivedi, D.N.(2017). Macro Economics Theory and Policy. New Delhi: Tata Mc-
    GrawHillPublishingCompany Ltd.
     Metha. A.P. and Bhardwaj O.P. (1992).Money, Banking and International
    Trade.ShobarlalNagin Chand & Co., New Delhi.
     Milton Friedman.(1956). Studies in the Quantity Theory of Money. Chicago: Chicago
    Press.
     Ritter, Lawrence S. (1952). Money and Economic Activity.New York: Houghton
    Mifflin Co.
     Halm G. N. (2012). Monetary Theory. New Delhi: Asia publishing House.

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