Monetary Policy in the Asia Pacific

About this Course

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Watch the introduction video to the course here: https://youtu.be/U7dQzqtIFVg

The Asia-Pacific region contains some of world’s most dynamic economies. Economies around the globe rely on credible monetary policy implemented by central banking institutions. Monetary policy governs the liquidity available to the payment systems that underlie trade and finance. Smooth adjustment of liquidity can minimize instability in money and foreign exchange markets and keep inflation and growth on a secure footing. The industrial giants of China, Japan, and Korea; the Southeast Asian emerging markets of Indonesia, Malaysia, Philippines, and Thailand; and the international entrepots at Hong Kong and Singapore each face unique challenges in implementing liquidity policy.

This course is for learners with some background information on monetary policy. This advanced course will build a foundation for understanding liquidity policy implementation in the Asia-Pacific using standard economic models. The course will discuss the effects of high level discussion of a key element of national level public policy, monetary policy. Modern monetary policy connects macroeconomic conditions and key financial market indicators. It will also analyze the way that central bank goals for macroeconomic stability will determine outcomes in interest rates and exchange rates. The rigorous theoretical foundation should also build analytical skills that might be applied to policy and market analysis in a broad range of economies and even in the Asia-Pacific region as policy-making evolves in the future.

The topics covered each week:

Module 1 - Monetary Policy Implementation
Module 2 - Monetary Policy Strategy
Module 3 - Exchange Rates and Monetary Policy

After taking this course and going through the interactive activities, you will be able to:

Describe Monetary Policy instruments central banks use
Interpret on-going actions of central banks
Apply graphical analysis and calculate basic economic measures used as tools by central banks or analysts
Analyze the way that central bank goals for macroeconomic stability will determine outcomes in interest rates and exchange rates

Shareable Certificate: Earn Certificate upon completion
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Intermediate Level
Approx. 9 hours to complete
English: Subtitles: French, Portuguese (European), Russian, English, Spanish

Instructor

Instructor rating 4.82/5 (31 Ratings)

David Cook

Professor

Department of Economics

6,545 Learners

1 Course

Offered by

The Hong Kong University of Science and Technology

HKUST - A dynamic, international research university, in relentless pursuit of excellence, leading the advance of science and technology, and educating the new generation of front-runners for Asia and the world.

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Syllabus - What you will learn from this course

WEEK 1

3 hours to complete

Monetary Policy Implementation

Welcome to the first module! This module will focus on the microeconomics of monetary policy implementation. We study how the central bank balances supply against demand in liquidity markets to target the key interest rate on interbank lending and influence money markets.

19 videos (Total 97 min), 6 readings, 1 quiz

See All

19 videos

Welcome to Monetary Policy in the Asia Pacific 1m
Monetary Policy Framework 8m
1.0 Monetary Policy Implementation Overview 4m
1.1 Central Banks 9m
1.1 Central Banks Concept Check 59s
1.2 Interbank Interest Rates 4m
1.2 Interbank Interest Rates Concept Check 1m
1.3 Liquidity Preference Model 11m
1.3 Liquidity Preference Model Concept Check 51s
1.4 Open Market Operations 11m
1.4 Open Market Operations Concept Check 2m
1.5 Operational Target 7m
1.5 Operational Target Concept Check 54s
1.6 Interest Rate Corridor 8m
1.6 Interest Rate Corridor Concept Check 1m
1.7a Money Markets Expectations Theory Part 16m
1.7b Money Markets Expectations Theory Part 28m
1.7 Expectations Theory Concept Check 2m
1.8 Monetary Policy Implementation Summary 3m

6 readings

Course Outline 5m
Assignments and Grading 3m
Asia-Pacific Central Banks 5m
Concept check videos with interactive questions
Suggested Reading List for Monetary Policy Implementation 5m
News articles for Interest Rate Corridor Case 10m

1 practice exercise

Quiz 1 - Monetary Policy Implementation 20m

WEEK 2

2 hours to complete

Monetary Policy Strategy

Welcome to Module 2! This module will focus on the macroeconomics of monetary policy strategy. We study the how (and why!) the central bank sets monetary policy in response to business cycle conditions in order to achieve a smooth and predictable inflation target.

18 videos (Total 104 min), 2 readings, 1 quiz

WEEK 3

2 hours to complete

Monetary Policy and Exchange Rates

This module will focus on the various interactions between monetary policy and exchange rates. We study how monetary policy affects the balance of supply and demand in foreign exchange markets and policies required to stabilize the relative value of domestic currency

16 videos (Total 98 min), 2 readings, 1 quiz

WEEK 4

1 hour to complete

Bringing it all together

Welcome to the final exam module! This module discusses regional approaches to exchange rate stabilization in Singapore and China. This supplementary material should help you tie together the application of concepts from the previous modules. However, only materials from Modules 1-3 will be directly covered in the final exam.

4 videos (Total 27 min), 2 readings, 2 quizzes

Reviews

4.8 40 reviews
5 stars 86.79%
4 stars 10.69%
3 stars 2.51%

TOP REVIEWS FROM MONETARY POLICY IN THE ASIA PACIFIC

by K Apr 26, 2020

The course introduced the basic knowledge about monetary policy with very sufficient real-world cases as examples. It is easy to understand and worth taking as the length of the course is perfect.

by KI Mar 9, 2021

Very interesting and useful course! Presenting of the material was quite appropriate even for beginners and the pace was just right!

by AD Jun 30, 2019

Lots of detail which is very well explained by the professor. Hope to meet him in person if I get into the University in 2020.

by NO Dec 29, 2020

thank you for this wonderful course. i've learned a lot esp my confusion on asia pacific

View all reviews

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