Die Vorlesung Economic Policy findet im Sommersemester statt.
Dozent: Prof. Dr. Gunther Schnabl
Tutor: Alexander Herborn
Start: 04.04.2024
Datum: Donnerstag, 11:15 - 12:45
Room: Seminarraum 8 (I 132)
Sprache: Englisch
Ziele der Vorlesung
This course is on economic policy in theory and practice with a focus on financial-crisis related economic policy issues in both the advanced and emerging market economies. We discuss topics such as fiscal demand stimulus, the link between monetary policy and credit booms, problems of debt sustainability and liquidation as well as international aspects of the recent crisis and economic policy responses.
Literatur
- Hayek, Friedrich August von 1931 [1935]: Prices and Production, Augustus M. Kelly, Publishers, New York.
- Keynes, John Maynard [1936]: The general theory of employment, interest and money, London Macmillan 1967
- Schnabl, Gunther 2019: Central Banking and Crisis Management from the Perspective of Austrian Business Cycle Theory, In Mayes, David / Siklos, Pierre / Sturm, Jan-Egbert (Eds.), The Oxford Handbook of the Economics of Central Banking, Oxford University Press, Oxford, 551-584.
Anforderungen
This course is part of the module International Economic Policy, which also comprises a course in European Integration as well as a seminar. Students can chose between participation in the seminar "Current Challenges in International Economic Policy Making" or "Growth in the Japanese Economy". Two-thirds of the module grade will be based on a written exam covering the two courses. For the seminar you will write a short term paper accounting for the remaining one-third of your module grade.
Inhalt und Folien
| Vorlesung | Datum | |
|---|---|---|
| 0. | Seminar Topic Assignment | 04.04.24 |
| 1. | Market Failure | 11.04.24 |
| 2. | Keynesian Demand Stimulus | 18.04.24 |
| 3. | Time Inconsistency and Rules in Economic Policy | 19.04.24 |
| 4. | Monetary Policy and Credit Cycles | 25.04.24 |
| 5. | Asymmetric Monetary Policy and Financial Instability | 02.05.24 |
| 6. | Fiscal Implications of Asymmetric Monetary Policy | 16.05.24 |
| 7. | International Implications of Low Interest Rate Policies | 23.05.24 |
| 8. | Oil Bill Recycling, Sterilization and Dutch Disease | 24.05.24 |
| 9. | Global Imbalances | 30.05.24 |
| 10. | Intra-European Imbalances | 06.06.24 |
| 11. | Financial Repression | 13.06.24 |
| 12. | Long-term Implications of Low Interest Rate Policies | 20.06.24 |
Questions and Answers | 04.07.24 |