MonetaryEc MonetaryEconomicsMajor
MonetaryEc MonetaryEconomicsMajor
MonetaryEc MonetaryEconomicsMajor
Department of Economics
uGHTENS
UG- 3rd Semester (NEP)
Course Code: UGECO22.J301 Total Credits: 06;( Theory: 04; Tutorial/Practical = 02)
Objectives: The objective of this course "Monetary Economics" is to provide students with a comprehensive
understanding of concepts and measures of money supply. The course enables the students to understand the
structure and working of Indian Financial System andconduct of monetary policy by the RBI.
Learning Outcomes:
LO1: Demonstrate a clear understanding of the fundamental concepts of money, its evolution, and the
functions.
L02: Analyse and evaluate how to measure Money supply.
LO3: Analyse the structure role and working of Indian banking system and Monetary Policy.
L04: Understanding the role and working of Indian Financial System.
Unit I. Basic Concepts
Money and its Functions, Kinds of Money, Approaches to Definition of Money: Conventional,
Chicago, Gurley and Shaw, and Central Bank Approaches. Evolution of Monetary Standards
from Gold Standard to Paper Standard, Gresham's Law, Principles of Note Issue: Currency and
Banking Principle.
Unit II. Money Supply
Money Supply and its measures, Concept of ligh-Powered Money, Determinants of High
Powered Money,Concept of Money Multiplier, Credit Multiplier and Deposit Multiplier.
Suggested Readings:
1. Gupta, S. B. (2010). Monetary Economics: Institutions, Theory & Policy. S Chand & Company (1
December 2010).
2. Sethi,T.T (2005). Money, Banking and lnternational Trade. SChand Publication.
3. Khan, M. Y. (2015). Indian Financial System. McGraw Hill Publication.
4. Bhalla, V. K. (2020). Money, Banking, and Financial Markets in India. S. Chand Publishing.
5. Mishkin, F. S.(2018). Money, Banking, and Financial Markets. Pearson Education.
6. Pathak, B. V. (2019). Indian Financial System. Pearson Education.
7. Bhole, L.M. (2017)Financial Institutions and Markets. Mc Graw Hill.