• Offered by Crawford School of Public Policy
  • ANU College ANU College of Asia and the Pacific
  • Classification Advanced
    Specialist
  • Course subject International and Developmental Economics
  • Areas of interest Economics
  • Academic career Postgraduate
  • Course convener
    • Prof Ippei Fujiwara
  • Mode of delivery In Person
  • Offered in Winter Session 2017
    See Future Offerings
Monetary Policy and Central Banking in the Asia Pacific (IDEC8012)

This course examines key analytical, empirical and policy issues in monetary policy and central banking. There is a strong emphasis on theory supported by a range of applications, in particular to the Asia Pacific region. Topics covered include empirical features of inflation and output, the monetary transmission mechanism, MIU and CIA models of inflation, the Cagan model of inflation, the credit channel, welfare costs of inflation and deflation, public finance aspects of monetary policy, structural uncertainty, time inconsistency, targeting regimes, instrument choice, open economy issues of monetery economics, New Keynesian models of inflation, and models with microfoundations. Time permitting, additional topics will include recent evidence on money illusion, indeterminacy, multiple equilibria, sunspots, and other advanced topics. Two of the lectures will be guest lectures given by eminent academic/central bankers with decades of policy experience.

The course material is very technical and students are expected to have a very good understanding of static and dynamic optimisation methods.

Indicative Assessment

2 mid-term quizzes 7.5% each (non-redemptive), mid-term assignment 25% (non-redemptive), final exam 60%

The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.

Prescribed Texts

Walsh, Carl (2003), Monetary Theory and Policy, MIT Press, Cambridge MA, Second Edition.
Other selected texts and journal articles.

Fees

Tuition fees are for the academic year indicated at the top of the page.  

If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.

Student Contribution Band:
Band 3
Unit value:
6 units

If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees.  Where there is a unit range displayed for this course, not all unit options below may be available.

Units EFTSL
6.00 0.12500
Domestic fee paying students
Year Fee
2017 $3852
International fee paying students
Year Fee
2017 $5130
Note: Please note that fee information is for current year only.

Offerings and Dates

The list of offerings for future years is indicative only

Winter Session

Class number Class start date Last day to enrol Census date Class end date Mode Of Delivery
6523 01 Jul 2017 21 Jul 2017 21 Jul 2017 30 Sep 2017 In Person

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