Basics of Monetary Economics

Overview

This course provides a comprehensive introduction to the fundamentals of Monetary Economics, shedding light on the key concepts and principles that underpin the monetary systems around the world. Delving into the historical aspects, the course begins by exploring the transition from barter to the evolution of money, highlighting the pivotal role money plays in facilitating economic transactions. The Functions and Significance of Money form a crucial part of the curriculum, examining the various roles money serves in an economy and its impact on financial stability and economic growth. Students will gain an understanding of the diverse Monetary Standards employed globally and their implications for monetary policy.

The course delves into the Value of Money, investigating factors influencing its purchasing power and its role as a store of value. It further explores two fundamental theories - the Quantity Theory of Money and the Income Theory of Money, providing insights into their respective perspectives on the relationship between money supply, economic activity, and price levels. Students will also examine the dynamics of the Rate of Interest, exploring its determinants and its impact on investment decisions and economic growth. The course concludes with an examination of the Demand for Money, exploring factors that influence individuals' and businesses' desire to hold money balances.

By the end of this course, students will have developed a solid foundation in the Basics of Monetary Economics, enabling them to analyze and comprehend the complexities of monetary systems, monetary policy decisions, and their broader implications for the economy as a whole.

What Will You Learn?

• The historical transition from barter to the evolution of money.
• The functions and significance of money in an economy.
• The various monetary standards employed globally and their implications.
• Factors influencing the value and purchasing power of money.
• The Quantity Theory of Money and the Income Theory of Money.
• The determinants and impact of the rate of interest on the economy.
• The factors influencing the demand for money.
• Analytical skills to comprehend and evaluate monetary systems and policies.

Who Should Take The Course?

• Students pursuing degrees in Economics or Finance.
• Professionals in the banking and financial sectors.
• Government officials involved in monetary policy decisions.
• Researchers and academics interested in monetary economics.
• Individuals seeking a foundational understanding of monetary systems and policies.
• Anyone interested in gaining insights into the functions and significance of money in the economy.

Requirements

• A basic understanding of economics and economic principles.
• Familiarity with fundamental concepts such as supply and demand, inflation, and interest rates.
• Proficiency in basic mathematical and analytical skills.
• Access to a computer or device with internet connectivity to access course materials and resources.