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ECON403 Monetary Economics

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.

Paper title Monetary Economics
Paper code ECON403
Subject Economics
EFTS 0.1667
Points 20 points
Teaching period Semester 2 (On campus)
Domestic Tuition Fees (NZD) $1,163.90
International Tuition Fees Tuition Fees for international students are elsewhere on this website.

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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

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Semester 2

Teaching method
This paper is taught On Campus
Learning management system


Stream Days Times Weeks
L1 Monday 14:00-15:50 28-34, 36-41
Thursday 14:00-14:50 28-34, 36-41