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
Structured Guided LearningLecture materials31:003:00Pre-recorded lecture materials
Scheduled Learning And Teaching ActivitiesLecture71:007:00PIP lectures
Guided Independent StudyAssessment preparation and completion132:0032:00N/A
Guided Independent StudyDirected research and reading125:0025:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching31:003:00PIP seminars
Structured Guided LearningStructured non-synchronous discussion40:302:00discussion board and problems around pre-recorded lectures
Scheduled Learning And Teaching ActivitiesDrop-in/surgery60:303:00online if necessary
Guided Independent StudyIndependent study125:0025:00N/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, including relations with current affairs.
• Pre-recorded lectures will provide more technical material (e.g. mathematical derivations)

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

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 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

Timetable