Other links:

Other links:

Course Catalogue

Ashoka University’s undergraduate course curriculum is taught across three semesters: Spring, Summer and Monsoon (Fall). Courses are broadly divided into three categories – Foundation Courses (core curriculum), Major & Minor Courses and Co-Curricular Courses.

You may search courses offered at Ashoka here. Please use the drop down menu to choose the specific semester and subject to see the full list of courses under each department. Foundation courses are offered in all semesters and do not have prerequisites. Offerings in other categories differ in each semester. Some higher level major/minor courses may have prerequisites.

To view Summer Semester Courses-2024: Click here

Monetary Theory

Code: ECO-3200-1

Faculty: Arghya Bhattacharya

What exactly is "money"? Is it simply something that we needed for trading? If so, then money would be a constraint - a thing without which trades can't happen. What about alternative trading arrangements like barter or credit? Why is barter, credit, or a system that keeps track of transfers, inferior to money? Why is fiat money Pareto superior to commodity money (gold, silver, etc.)? What causes inflation? What about banking - why do we need it? Are banks always welfare-improving? Why do banks fail? This course starts with a micro-founded approach to money using an overlapping generations model and discusses why money is not a constraint but an instrument that arises endogenously leading to welfare gains for the economy. Then we build on this model and go on to study the relationship between money and other institutions that issue/ use money - financial intermediation & banks, a model of bank risk and bank panic (Diamond-Dybvig model).

Time permitting and based on your collective interest & my expertise, we might cover other interesting topics in monetary economics such as national debt, fiscal theories of price level & inflation, pension systems, and/ or one or two MA/ Ph.D. level papers on money-related topics.

Study at Ashoka

Study at Ashoka

    Sticky Button