MONETARY ECONOMICS

Paper Code: 
DFSG 811
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Outcomes (Cos):

 

Learning and teaching strategies

Assessment Strategies

The students will be able to –

 

CO231 Understand the concept of money and its circulation in the economy

CO 232 Comprehend and Analyze the concept of Demand and Supply of money.

CO 233 Understand the monetary transmission mechanism

CO 234 Compare and analysis the different theories of Monetary economics

CO 235 Integrate the monetary theories, critically examine and express their views by analysing the monetary policy strategies and relate it to the current changes in the economy

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, Reading assignments, Team teaching

 

Learning activities for the students:

Field activities, Presentation, Giving tasks

Class test, Semester end examinations, Quiz, Solving Numerical problems in tutorials, Assignments, Class Presentation

 

12.00
Unit I: 
Money in Modern Economy

Money in Modern Economy: Evolution of money, concept of near money, Barter system and its difficulties, Functions of money in modern economy.
The circular Flow of Money, Overview of Monetary Standard, principals and methods of Note issue.

12.00
Unit II: 
Demand For and Supply of Money

Demand For and Supply of Money: Demand for money and Liquidity Preference theory of interest, Concept of supply of money,
Monetary Aggregates-Measure of money supply, factors affecting money supply, Money Multiplier

12.00
Unit III: 
Monetary Policy

Monetary Policy: objectives, parameters of monetary policy, Quantitative and qualitative credit control, Monetary policy and economic stabilization, Monetary policy and economic Development, Variation in the rate of interest and control of money supply, Working of Monetary Policy (Transmission Mechanism), Targets and Indicators.

12.00
Unit IV: 
Velocity and Value of Money

Velocity and Value of Money- Concept, factors
Theories of Money- Quantity Theory of Money-Fisher’s, Cambridge Keynesian and Milton Friedman’s modern Theory.

12.00
Unit V: 
Inflation, Deflation, Stagflation and Devaluation –

Inflation, Deflation, Stagflation and Devaluation – Meaning, Causes and effect. Role of monetary Policy in regulating inflation.

Essential Readings: 

BOOKS RECOMMENDED
• M.L.Seth, Monetary Economics- Educational Publishers, Agra
• T.N.Hajela, Monetary Economics.,Konark Publishers Pvt. Ltd, Delhi
• M.L.Jhingan, Money, Banking and International Trade,Vrinda Publication, Delhi
• S.B.Gupta, Monetary Economics.,S.Chand& Co, New Delhi
• MIthani.D.M, Money,Banking,International Trade and Public Finance., Himalayan Publication, New Delhi
• T R Jain Money and Banking, V K Global Publication Pvt Ltd
• Tandon and MathurMoney and BankingShivam Publication, Jaipur

SUGGESTED REFERENCE BOOKS
• T.N.Hajela, Monetary Economics ,Konark Publishers Pvt. Ltd, Delhi
• M.L.Jhingan, Money, Banking and International Trade,Vrinda Publication, Delhi
• S.B.Gupta, Monetary Economics.,S.Chand& Co, New Delhi
• Mithani.D.M, Money,Banking,International Trade and Public Finance., Himalayan Publication, New Delhi

e- RESOURCES
• https://rbi.org.in/Scripts/AnnualPublications.aspx?head=Report%20on%20Cu... (RBI Report on Currency & Finance, various issues)
• Websites: https://www.rbi.org.in/ (RBI)
• https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=53113 (Various latest issues of RBI Bulletins)
• https://www.pdfdrive.com/monetary-economics-books.html
• https://www.pdfdrive.com/monetary-economics-e38141688.html
• https://www.pdfdrive.com/money-and-banking-textbook-books.html

REFERENCE JOURNALS
• Journal of Money, Credit and Banking
• The Review of Economic Studies
• Journal of Monetary Economics
• International Journal of Monetary Economics and Finance

Academic Year: 
2023-2024
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