Central Banking Theory and Practice
| Code | School | Level | Credits | Semesters |
| BUSI4429 | Business | 4 | 10 | Spring UK |
- Code
- BUSI4429
- School
- Business
- Level
- 4
- Credits
- 10
- Semesters
- Spring UK
Summary
• Central Bank Monetary Policy and the Price stability objective
• Monetary Policy Transmission channels
• Central Bank Instruments, Operating Targets and Policy Implementation
• Central Bank Unconventional Policies in the aftermath of the 2008-09 financial crisis and the Covid pandemic
• The Central Bank Financial Stability Objective and the Lender of Last Resort Function in the aftermath of the
2008-09 financial crisis and the Covid pandemic.
• The module may also include a special, ad-hoc, topic related to central banks.
Target Students
Available for MSc Banking and Finance and MSc Financial Technology students and MSc Exchange students.
Classes
- One 2-hour lecture each week for 11 weeks
22 hours lectures, 20 hours coursework preparation, 20 hours exam preparation, 38 hours individual reading/study.
Assessment
- 100% Take home exam (24-hour): Take home exam (24 hours but expected time to complete is 2 hours). Reassessment of this module will be 100% exam
Assessed by end of spring semester
Educational Aims
This module covers the fundamentals of central bank theory and practice. This includes the key main objectives of most central banks, namely price stability and financial stability. Regarding the first, it discusses monetary policy objectives and their interactions, policy transmission channels and implementation. This includes both conventional policies during normal times as well as unconventional policies that have been implemented since the financial crisis of 2008-09 and after the Covid pandemic. The module also discusses the Lender of Last Resort function of central banks as part of their financial stability mandate and how this has been used in the aftermath of the above-mentioned crises.Learning Outcomes
Knowledge and Understanding
• The dynamics of the global economy and international business &/or an awareness of cultural, legal/regulatory, political, and economic differences across countries &/or an appreciation of management issues from a global perspective.
• Finance - the sources, uses and management of finance
Intellectual Skills
• Being able to think critically and be creative: manage the creative processes in self and others; organise thoughts, analyse, synthesise and critically appraise. This includes the capability to identify assumptions, evaluate statements in terms of evidence, detect false logic or reasoning, identify implicit values, define terms adequately and generalise appropriately
• Using information and knowledge effectively in order to abstract meaning from information and to share knowledge, including the use of quantitative skills
Professional Practical Skills
• The ability to conduct research and enquiry into business and management issues either individually or as part of a team through research design, the collection and analysis of qualitative data, synthesis and reporting
• The ability to conduct research and enquiry into business and management issues either individually or as part of a team through design, the collection and analysis of quantitative data, synthesis and reporting
Transferable (Key) Skills
• Effective communication: networking, listening, oral and written communication of complex ideas and arguments, using a range of media, including the preparation of business reports
Conveners
- Dr Kim Ly