Postgraduate

NBS8204 : Central Banking

Semesters
Semester 2 Credit Value: 10
ECTS Credits: 5.0

Aims

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

Please note that module leaders are reviewing the module teaching and assessment methods for Semester 2 modules, in light of the Covid-19 restrictions. There may also be a few further changes to Semester 1 modules. Final information will be available by the end of August 2020 in for Semester 1 modules and the end of October 2020 for Semester 2 modules.

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion115:0015:00N/A
Structured Guided LearningLecture materials92:0018:00Non-Synchronous Online (8hr lectures, 1hr revision) =18 student learner hrs
Guided Independent StudyDirected research and reading124:0024:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching51:005:00Synchronous online
Structured Guided LearningStructured research and reading activities52:0010:00N/A
Scheduled Learning And Teaching ActivitiesDrop-in/surgery80:304:00Weekly online synchronous Q&A/drop-in
Guided Independent StudyIndependent study124:0024:00N/A
Total100:00
Teaching Rationale And Relationship

• Lectures provide the basic structure of the methods and theories that are introduced and an overview of the current issues.

• Seminars provide an opportunity to enhance understanding of the theoretical aspects of the module.

Assessment Methods

Please note that module leaders are reviewing the module teaching and assessment methods for Semester 2 modules, in light of the Covid-19 restrictions. There may also be a few further changes to Semester 1 modules. Final information will be available by the end of August 2020 in for Semester 1 modules and the end of October 2020 for Semester 2 modules.

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

Exams
Description Length Semester When Set Percentage Comment
Written Examination992A10024 hr take home exam
Exam Pairings
Module Code Module Title Semester Comment
LBS8204Central Banking2London equivalent module
Formative Assessments
Description Semester When Set Comment
Prob solv exercises1MProblem solving exercises via Blackboard
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

Timetable