Skip to main content


NBS8204 : Central Banking

  • Offered for Year: 2024/25
  • Module Leader(s): Dr Cesar Blanco
  • Owning School: Newcastle University Business School
  • Teaching Location: Newcastle City Campus

Your programme is made up of credits, the total differs on programme to programme.

Semester 2 Credit Value: 10
ECTS Credits: 5.0
European Credit Transfer System


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 ActivitiesLecture52:0010:00PIP lectures
Scheduled Learning And Teaching ActivitiesLecture22:004:00Online Lectures
Guided Independent StudyAssessment preparation and completion130:0030:00N/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 Examination902A100N/A
Formative Assessments

Formative Assessment is an assessment which develops your skills in being assessed, allows for you to receive feedback, and prepares you for being assessed. However, it does not count to your final mark.

Description Semester When Set Comment
Prob solv exercises1MProblem solving exercises via Canvas
Assessment Rationale And Relationship

The written unseen exam is an appropriate way to provide evidence of a student’s understanding of the current theory and practice of Central Banking acquired from studying various sources, their ability to compare monetary policy regimes and to critically assess key issues in this subject area.

Reading Lists