CENTRAL BANKS AND CENTRAL BANKERS (MONETARY POLICY AND CENTRAL BANKING – Old title)
Année du cours : 1 année(s)
Etablissement : IÉSEG School of Management
Langue : English
Formation(s) dans laquelle/lesquelles le cours apparait :
Période : S2
Bachelor level knowledge of Macroeconomics.
Bachelor level knowledge of Econometrics and Finance.
At the end of the course, the student should be able to:
The purpose of this course is to give students the ability to understand central banks behavior and the effects of their policies on financial markets. After a review of the macroeconomic importance of monetary policy, students will learn its implementation through conventional (interest rates) and unconventional instruments (QE). We will study the impact of such decisions on different market segments such as exchange rates, money market, sovereign bonds and equities.
At the end of the class, students must be able to:
-Understand the functioning of monetary policy and its implementation through different conventional and unconventional instruments.
-Study the relation between the macroeconomic outlook and the monetary policy stance and forecast key interest rates.
-Understand the implication of monetary policy decisions and communications for asset prices (stocks, bonds and exchange rates).
Session 1 : Introduction and the objectives of monetary policy.
Session 2 : Monetary policy standard and non-standard instruments.
Session 3 : The asset prices transmission channel.
Session 4 : Understanding the central bank communication.
