Semester-long central banking project in monetary theory and policy course

Abstract

This paper describes a semester-long project in an undergraduate monetary theory and policy course where each student selects a central bank whose policies they research and present to their peers throughout the semester. This approach expands the traditional approach of focusing on the U.S. Federal Reserve monetary policy and transforms the learning experience to include central banks from other countries and economic blocs. We find that the project increases student engagement and creates a unique environment where students eagerly learn from each other in a more egalitarian and horizontal environment in addition to strengthening research skills, improving the connection between the theoretical and applied components of the course, and advancing presentation skills.