Money, market, politics - BMEGT30BX4U002-00

Nothing illustrates the importance of money and the monetary system better than the quote attributed to M.A. Rothschild: "Give me control over a nation's money and I care not who makes its laws." After examining the key eco-nomic reason that enabled the transition from money issued by the sovereign embodying the state through purchase to a monetary system where money is created by private banks, we will turn our attention to recent alternatives — such as cryptocurrencies (e.g., Bitcoin) and central bank digital currencies (CBDCs). The econo-mic processes will be illustrated through historical examples.

1. the logics of accounting
2. the notion of money, the rules that govern the gold money system, the godl standard system and the mo-dern credit money system
3. the basic logics of alternative monetary systems
4. the link between economic theory and historical facts

1. understand macroeconomic changes, especially monetary and fiscal policy measures
2. extend economic knowedge alone
3. understand economic events published in the media

1. collaborate with their instructors and fellow students during the learning process,
2. continously gain knowledge and information,
3. are open to learn and adapt the methodology of information technology tools
4. are aiming at knowing and using the tools that helps economic problem solving
5. are aiming at precise and correct problem solution.

1. independently formulate and solve macroproblems,
2. are open for reliable critical remarks
3. collaborates with the experts of other fields
4. use systemtic approach.

Lectures, computational exercises and communication in written and oral form. use of IT technics, optional: individual and in group problem solving.

• Gilányi, Zs.(2020), Piacgazda(g)ság: oikonomia vagy khrematistiké?, Akadémia kiadó.
• L-Randall Wray (2015), Modern Money Theory, Palgrave.
• Benes J.-Kumhof M. (2012), The Chicago Plan Revisited, IMF Working Paper.
• Zarlenga, Stephen (2005), Moving Monetary Reform To The “Front Burner, American Review of Political Econ-omy, Vol 3(1): 39-84.
• Egyéb oktatási segédanyagok (gyakorló feladatok, mintazh stb.) a tanszék honlapján, a tárgy neve és kódja alatt érhetőek el- other learning material (ex.: exercices for practice, sample tests) is available ont he webpa-ge under the subject code.

Assessment of learning outcomes described under 2.2. is based on two written mid-term tests during the semes-ter

Learning unit assessment: the complex assessment of knowledge, skills and attitude is written test contai-ning a test part and an exercice part. The test part is intended to assess the knowledge of notions and principles, the exercice part is intended to assess students’ problem solving. The precise from, content and assessment of the written test is to be determined by the lecturer in accordance with the subject res-ponsible.

• learning unit assessment: 50
• learning unit assessment: 50

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1) The obligatory mid-term test can be retaken or made up according to the general rules of the university. In case of make up, the grade of the make up test is the grade.

Consulted with the Faculty Student Representative Committee, approved by the Vice Dean for Education, valid from: 07.07.2024.

Subject includes the topics detailed in the course syllabus to ensure learning outcomes listed under 2.2. can be achieved. Timing of the topics may be affected by calendar or other circumstances in each semester.