Lecture material 

• Module outline 
• Part 1. Stylised facts of monetary economics 
• • Stylised monetary facts | Ellison - Scott data 
  • Empirical monetary economics | Ehrmann - Ellison data 
  • The changing response of US industry to monetary policy, Ehrmann and Ellison
• Part 2. Money in dynamic general equilibrium models 
• • Lucas islands model
  • Cash in advance model 
• Part 3. Real-nominal interactions in the short run
• • Sticky wages and prices
  • The persistence puzzle
  • IS-LM is back
  • The liquidity effect
• Part 4. Monetary policy
• • Monetary po licy rules
  • Monetary policy under uncertainty
  • Learning
• Sample exam questions
• January 2002 exam

All material will be distributed in the lectures. Alternatively, to print out all the lecture notes in one document click here.