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    Examines theoretical and empirical aspects of the role of money in the macroeconomy, New Classical and New Keynesian Economics and their implications for monetary policy.

    This paper examines theoretical and empirical aspects of the role of money in the macro-economy and the implications for monetary policy in the context of recent economic events, in particular the 2007-08 global financial crisis and its aftermath and the Covid-19 pandemic. Relevant recently developed econometric techniques will be covered at the beginning of the paper. Thereafter, the emphasis is on oral presentations in class of journal articles of theoretical and empirical models on the role of money and also its relation to fiscal policy. The paper is geared towards students who are interested in empirical applications and who plan to work in the government or finance sectors, or plan to continue with postgraduate studies.

    About this paper

    Paper title Monetary Economics
    Subject Economics
    EFTS 0.1667
    Points 20 points
    Teaching period Semester 2 (On campus)
    Domestic Tuition Fees ( NZD ) $1,196.41
    International Tuition Fees Tuition Fees for international students are elsewhere on this website.
    ECON 375 and ECON 377
    ECON 426
    Recommended Preparation
    ECON 376
    Teaching staff

    Alfred Haug

    Readings will consist of journal articles.
    Graduate Attributes Emphasised
    Global perspective, Scholarship, Communication, Critical thinking, Research.
    View more information about Otago's graduate attributes.
    Learning Outcomes

    Students who successfully complete this paper should be able to:

    • Communicate advanced economic concepts and ideas orally in English, using mathematical and statistical methods as appropriate for the audience
    • Understand and critically assess contemporary advanced monetary theory and modelling, and identify how such models can provide a basis for further applied and policy research
    • Apply the theory and methods to contemporary monetary policy questions


    Semester 2

    Teaching method
    This paper is taught On Campus
    Learning management system


    Stream Days Times Weeks
    L1 Monday 14:00-15:50 29-35, 37-42
    Thursday 14:00-14:50 29-35, 37-42
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