Other links:
Other links:
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
We start the course by asking a fundamental question: what is money and why is it essential? We will begin with a simple overlapping generations (OLG) model where intrinsically worthless objects are valued at equilibrium. This is fiat money.
After this, we will quickly graduate to the Lagos-Rocheteau-Wright (LRW) class of models a.k.a. New Monetarist models, and use them to understand different aspects of monetary economies and how a monetary economy interacts with other markets – labor markets, asset markets, and over-the-counter (OTC) markets. Time permitting, we will also study Choi and Rocheteau (2021) models which are continuous time versions of LRW models and yield richer dynamics.
In the last phase of the course, we will discuss selected papers on important and interesting issues in monetary economics. Some of these might be “current issues”, while the rest are perennial questions. Students taking the course must select a paper from a predefined list and present it in class. The presentation will be followed by a Q&A.
I will teach selected chapters from the book Money, Payments, and Liquidity (MIT Press) by Rocheteau and Nosal. This is a graduate textbook on LRW models.
