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Monetary System and Policy

Course title

Monetary System and Policy


 ME 513


Prof. Kiril Jovanovski PhD

Course objectives (competences):

After completing the course, the students should:

  • Understand the process of designing and implementing of the monetary policy 
  • Be capable of evaluating the monetary policy signals and to predict future events 
  • Understand the relationship between monetary and macroeconomic variables
  • Be capable of analyzing and predicting the effects of the monetary policy. 
  • Understand the money creation process, and to know what are the possible mechanisms at Central banks power for controlling the money supply. 
  • To know the monetary system structure and evolution


Course content:
  1. Introduction: why we are learning the money and monetary phenomenon 
  2. Financial and monetary instruments 
  3. Central banks: Institutional development and independency 
  4. Money supply creation. 
  5. Monetary policy goals and intermediary targets 
  6. Ad hock vs rules based monetary policy
  7. Monetary policy strategies 
  8. Transmitting mechanism 
  9. Monetary and macroeconomics variables interconnection
  10. Monetary and fiscal policy coordination 
  11. Monetary policy in selected countries
70 години

Во 2020 Економскиот факултет при Универзитетот “Св. Кирил и Методиј” во Скопје слави 70 години од своето основање.