|Study location||Netherlands, Maastricht|
|Type||Summer Course, full-time|
|Nominal duration||1 week (2 ECTS)|
|Tuition fee||€400.00 per programme|
Enrolled as an Undergraduate student or Undergraduate diploma
The entry qualification documents are accepted in the following languages: English.
Often you can get a suitable transcript from your school. If this is not the case, you will need official translations along with verified copies of the original.
B2, IELTS 6.5
A motivation letter must be added to your application.
The course introduces students to Modern Monetary Theory (MMT) through the use of a new textbook written by the lecturer. The balance sheets and transactions that are relevant for understanding modern money are examined, with a focus on the Eurozone. Explanations include the idea that banks can create bank deposits through their accounting software, that governments spend first and collect taxes later and that central banks use a set of interest rates as their main tool of policy instead of manipulating the money supply.
This is the 3rd edition of the course, with the first one scoring 8.83/10 in the evaluation of 2016 and the second 8,90 in 2017.
Knowledge of central banks and monetary policy
Understanding the operations of the Treasury and fiscal operations
Grasp of credit creation and clearing process in the banking system
Ability to aggregate balance sheets in order to use sectoral balances as a tool for macroeconomics
Insights on the economic history of the eurozone, its crisis and possible remedies
Ehnts, Dirk. 2017. Modern Monetary Theory and European Macroeconomics, Abingdon: Routledge (ISBN hardcover and ebook: 978-1-138-65477-8 and 978-1-315-62303-0)
Euro, Eurozone, macroeconomics, fiscal policy, monetary policy, Modern Monetary Theory