IDENTIFYING DATA

2023_24

Subject (*)

MONETARY MACROECONOMICS

Code

16204119

Study programme

Bachelor's Degree in Finances and Accounting

Cycle

1st

Descriptors

Credits

Type

Year

Period

Compulsory

Second

Language

Català

Department

Economics

Coordinator

QUESADA ARANA, ANTONIO

E-mail

antonio.quesada@urv.cat

Lecturers

QUESADA ARANA, ANTONIO

Web

http://http://gandalf.fee.urv.cat/professors/AntonioQuesada/docencia.html

General description and relevant information

<div>The course hinges around the macroeconomic implications of organizing economic activity on the basis of money. <br /></div><div><br /></div><div>In particular, the following issues are addressed:</div><div><br /></div><div>(i) the basic forms of money and the role played by private banks and the central bank;</div><div><br /></div><div>(ii) the relationship between currencies of different economies;</div><div><br /></div><div>(iii) how public sector activity affects both the flow and the stock of money;</div><div><br /></div><div>(iv) the mutual influence of money and economic activity; and</div><div><br /></div><div>(v) the creation of monetary unions.<br /> </div><p></p>

Competences

Type A	Code	Competences Specific
	A7	Understand basic micro- and macroeconomic principles and their influence on the financial sector.
Type B	Code	Competences Transversal
	B4	Autonomy, responsibility and initiative
Type C	Code	Competences Nuclear
	C4	Be able to express themselves correctly both orally and in writing in one of the two official languages of the URV

Learning outcomes

Type A	Code	Learning outcomes
	A7	Analyze: (i) the effects of demand policies on a closed economy and an open economy, (ii) the adjustment of an economy with an external imbalance, and (iii) the role of expectations in macroeconomic analysis . Understand the macroeconomic effects of financial crises.
Type B	Code	Learning outcomes
	B4	Do the work planned in accordance with the quality criteria provided. Decide how to manage and organize work and time. Decide how to do a particular job so that it is of the highest quality possible. Decide what needs to be done for a particular job/project and do it according to schedule.
Type C	Code	Learning outcomes
	C4	Produce well-structured, clear and rich written texts Produce written texts that are appropriate to the communicative situation

Contents

Topic	Sub-topic
1. Private money and public money	1. Basic forms of money 2. Central bank and central bank money 3. The monetary policy domestic trilemma 4. Money as an accounting entry 5. A heterodox model of bank money creation 6. Hyman Minsky's financial instability hypothesis
2. Domestic money and foreign money	1. An extended version of the currency market competitive model 2. Spatial and triangular arbitrage 3. Uncovered interest rate parity 4. Covered interest rate parity 5. Relative purchasing power parity 6. Other financial parities 7. Fisher international equation
3. Money and the public sector	1. Public expenditure and net financial wealth 2. Heterodox view of the relationship between money and public deficit 3. Heterodox view on monetary policy and fiscal policy 4. Public deficit and balance sheet recession theory 5. A model of fiscal policy as monetary policy 6. A model of the interaction between fiscal and monetary policy
4. Money and economic activity	1. Sectoral balance identities 2. A model of economic activity based on the sectoral identities with balanced foreign sector 3. A model of economic activity based on the sectoral identities with unbalanced foreign sector 4. The quantity theory of credit 5. Theories and models on inflation and unemployment
5. International money and international monetary system	1. Dollar hegemony in the international monetary system 2. The Triffin dilemma and related financial dilemmas 3. The open economy trilemma and related international trilemmas 4. Elementary models of the creation of monetary unions

Planning

Methodologies :: Tests

Competences

(*) Class hours

Hours outside the classroom

(**) Total hours

Introductory activities

Lecture

Problem solving, exercises in the classroom

Debates

Assignments

Personal attention

Multiple-choice objective tests

Extended-answer tests

(*) On e-learning, hours of virtual attendance of the teacher.
(**) The information in the planning table is for guidance only and does not take into account the heterogeneity of the students.

Methodologies

Methodologies

	Description
Introductory activities	Explicació dels objectius i continguts de l'assignatura, les metodologies d'avaluació i les seves relacions amb les competències que l'alumne ha d'assolir. Informació sobre l'atenció personalitzada als alumnes. Prova de coneixements previs de matemàtiques sense nota d'avaluació.
Lecture	Exposició dels continguts de l'assignatura
Problem solving, exercises in the classroom	Resolució dels exercicis de cada tema a l'aula ordinària per part dels alumnes amb la correcció del professor
Debates	Es realitzaran activitats a classe de discussió del material presentat i dels continguts dels curs.
Assignments	S’intentarà oferir la possibilitat de realitzar un treball col·laboratiu, però això dependrà de que es trobin socis a altres universitats.
Personal attention	Temps que cada professor té reservat per atendre i resoldre dubtes als alumnes.

Personalized attention

Description

Els alumnes poden contactar amb els professors durant els horaris d'atenció, que es comunicaran al principi de curs, per resoldre dubtes sobre l'assignatura.

Assessment

Methodologies

Competences

Description

Weight

Multiple-choice objective tests

To be taken at the same time as the mid-term and end-of-term exams

10%

Extended-answer tests

Mid-term exam on topics 1 and 2

End-of-term exam on all the topics

Delivery of solutions to selected exercises from the problem sets

Final exam

15%

20%

30%

30%

Others

Breu assaig sobre cinc llibres d'una llista facilitada a l'inici de curs

20%

Other comments and second exam session

As for the second call:

- solutions to selected exercises from the problem sets (30%);

- short essay on five books from a given list (20%);

- final exam of the same kind as the one in the first call (50%).

Under both calls, the pass is obtained by reaching the 50% and the top mark by obtaining the 100% score.

Sources of information

Basic
	Find the teaching material of this course (lecture notes, exercises, exams, readings...) at http://gandalf.fee.urv.cat/professors/AntonioQuesada/docencia.html
Complementary

Recommendations

Subjects that it is recommended to have taken before

INTRODUCTION TO MACROECONOMICS/16204005

PRINCIPLES OF APPLIED ECONOMICS/16204006

MATHEMATICS II/16204009

MATHEMATICS I/16204008

INTRODUCTION TO MICROECONOMICS/16204004


Other comments
Es recomana l'assistència a les classes, la participació durant les classes (consulta de dubtes, qüestions relatives a esdeveniments macroeconòmiques que es produeixin durant el curs, suggeriment de temes a tractar no inclosos en el programa...) i la resolució dels problemes plantejats en les llistes d'exercicis.

(*)The teaching guide is the document in which the URV publishes the information about all its courses. It is a public document and cannot be modified. Only in exceptional cases can it be revised by the competent agent or duly revised so that it is in line with current legislation.