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The focus of this course is on the conduct of optimal monetary policy in open and closed economies. Various issues in monetary policy under uncertainty are explored. A great deal of attention is devoted to issues pertaining to rules vs. discretion in policy-making. We address topics as diverse as interest rate pegs, nominal income targeting vs. price level/ inflation targeting, collection of seigniorage, central bank independence, and others.
Subject to approval of the Head of Department. Recommended Preparation ECON326
Froyen, Richard T. , Guender, Alfred V; Optimal monetary policy under uncertainty ; Second edition; Edward Elgar Publishing, 2019.
Gali, Jordi; Monetary policy, inflation, and the business cycle : an introduction to the new Keynesian framework ; Princeton University Press, 2008.
Walsh, Carl E; Monetary theory and policy ; 3rd ed; MIT Press, 2010.
Woodford, M; Interest and Prices ; Princeton, 2003.
Domestic fee $1,066.00
International Postgraduate fees
* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.
For further information see Department of Economics and Finance .