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NBS8204 : Central Banking

  • Offered for Year: 2022/23
  • Module Leader(s): Dr Anastasios Evgenidis
  • Owning School: Newcastle University Business School
  • Teaching Location: Newcastle City Campus
Semester 2 Credit Value: 10
ECTS Credits: 5.0


The effective operation of central banks is crucial to economic performance. This module covers the main issues surrounding the economics and political economy of central banking, including the case for central bank independence and the use of inflation targets.

Outline Of Syllabus

Topics covered include:
1) The link between central banks’ monetary policy and inflation.
2) A short-run macroeconomic model of the economy.
3) The link between inflation and output.
4) The importance of expectations.
5) Inflation bias, credibility and time inconsistency.

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Scheduled Learning And Teaching ActivitiesLecture42:008:00PIP lectures
Scheduled Learning And Teaching ActivitiesLecture22:004:00Online Lectures
Guided Independent StudyAssessment preparation and completion132:0032:00N/A
Guided Independent StudyDirected research and reading126:0026:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching41:004:00PIP seminars
Guided Independent StudyIndependent study126:0026:00N/A
Teaching Rationale And Relationship

• Lectures provide the basic structure of the methods and theories that are introduced and an overview of the current issues, including relations with current affairs.

• Seminars provide an opportunity to enhance understanding of the theoretical aspects of the module. Also focus on applying the theory.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Description Length Semester When Set Percentage Comment
Written Examination992A10024 hr take home exam
Formative Assessments
Description Semester When Set Comment
Prob solv exercises1MProblem solving exercises via Canvas
Assessment Rationale And Relationship

Take-home exam is targeted to demonstrate skill and analytical insights of the context of Central Banking as well as the formal models developed in the module.

Reading Lists