The Practice of Central Banking

These teaching packs are designed for 90-minute (online or offline) sessions that can be added to existing courses. They help students become familiar with an important topic that is often neglected. At some universities lectures and sessions are typically longer than 90 minutes and at others shorter. Feel free to adjust the material to make it with your context and purpose.

This teaching pack focuses on the practice and real-world activities of central banks. It assumes students have a grasp of basic macroeconomic concepts already, and is therefore most suitable to be used at the end of introductory macro courses, or in more advanced macro or monetary economics courses.

The central aim is to help students understand that central banking in the real world is a lot more complex than simply changing interest rates to mechanically ensure that resources are not under- or over-employed, as it is often presented. The content is focused on understanding the actual implementation of financial stability and monetary policy in practice.