Deutsch Intern
Senior Professorship for Economics, Money and International Economic Relations

European Monetary Policy


This course is taught in German. For any questions regarding a participation in English, please refer to the contacts named below.



Course Descripiton

1. Why is the ECB's main target monetary stability?
2. How can the ECB control interest rates and credit growth? How did the financial crisis happen?
3. How does interest rate policy affect final macroeconomic targets (monetary stability and full employment)?
4. Why is political independence so important for monetary policy?
5. How does the ECB set it's interest rates? (monetary policy strategies)
6. Why do central banks persue unconventional measures in the past years?

Competences: By completion of this course, students have a solid understanding of theory and practice in monetary policy. They are able to form a critical judgement about ECB's monetary policy, and partially, about other central bank's policy.


All materials are available on WueCampus.


Prof. Dr. Peter Bofinger (
Felix Betz (