OAFP 8165 - Current Issues in Money and Finance

The course will look at four specific challenges that monetary authorities will be confronted with in the period to come.

First, the challenges to price stability in a new environment of very high public debt

Second the role and independence of Central Banks with large balance sheets, challenges to their independence and, conversely, calls to extend their missions beyond traditional mandates ( to climate change.. inequalities...)

Third, digital technology is changing the forms and architectures and money and finance, ushering an era of structural transformation

Fourth, the continuing domination of the international monetary system by the dollar and the recent evolutions in US policies and doctrines with its financial and geopolitical implications

The course will explore the potential consequences for the economy. Monetary and financial theory will be developed in a policymaking perspective. Contemporary problems of monetary policy will be discussed in detail, as well as issues raised by public debt and fiscal policy.

Active participation is strongly encouraged and necessary time has been provided in the course schedule for extensive discussions during the class.

Time has been provided in the course schedule for extensive discussions during the class.

Ahead of each class, students will receive either an outline (one to three pages) in Word format or a deck of slides - that will help to follow the class and provide a framework for note taking.

At any moment during the term, questions can be asked directly by mail. They will be answered promptly. It will be helpful if they can be easily identified amongst all the mails that are received. So, questions should come under a standardized title (in capital letters): EAP MONEY- QUESTION

Some basic knowledge of Macro economics ( undergraduate level) may help

Evaluation will consist in one midterm and one final essay done at home, each weighting 45% of the grade. 10% will be allocated to participation during the class