Spring 2024

Monetary Theory and Policy

Listed in: Economics, as ECON-450


Neil W. White (Section 01)


The way a society creates and distributes money has a large impact on people’s income, wealth, employment opportunities, and financial security more generally. In this course, we will study modern monetary institutions and their impact on the economy. We will use both empirical and theoretical frameworks to address questions like: What causes inflation? How do interest rate changes affect employment? and How should policymakers decide what actions to take? We will examine the operational aspects of modern central banks as well as how and why the banks have evolved over time. We will also assess central bank tools to address inequality and climate change. Students will read research papers, follow current policy debates and decisions, and engage in independent research projects.

Requisite: ECON 330/331, ECON 360/361. Limited to 15 students. Spring semester. Professor White.

How to handle overenrollment: Priority given to majors who have taken fewer 400 level economics courses

Students who enroll in this course will likely encounter and be expected to engage in the following intellectual skills, modes of learning, and assessment: Quantitative reasoning, writing analytical and theoretical economic papers, graphical analysis, regular readings, problem sets, in-class exams, and oral presentations.

ECON 450 - LEC

Section 01
Tu 2:30 PM - 3:50 PM CHAP 205
Th 2:30 PM - 3:50 PM CHAP 205


Other years: Offered in Spring 2023, Spring 2024