Five week courses - Monetary System and Policy of EU

Monetary System and Policy of EU

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The main objective of the course is to provide students with the skills and abilities to understand the functioning of the EU monetary system and policy. In this context, students should understand the benefits and costs of joining the Eurozone, especially with regard to small countries. Moreover they should be able to understand the reorganisation of the European banking system, the increase of bail-in capacity in the event of crisis management and the risk of over-regulation of the banking system. Finally students should understand how monetary policy decisions affect market actors and contribute to the ultimate objective of the European Central Bank (ECB).

Detailed course description is available here.


Professor Mario Pečarić, PhD

Lecturer CV and information is available here.

Professor Roberto Ercegovac, PhD

Lecturer CV and information is available here.

Associate Professor, Josip Visković, PhD

Lecturer CV and information is available here.


  • Assess the causes and effects of monetary integration and evaluate them in analysing the process of founding the European Monetary Union (EMU) and the process of joining EMU in the context of optimal currency area theory

  • Analyse the institutional structure and voting system of EMU

  • Understand the process, benefits and costs of joining EMU with particular reference to Croatia

  • Understand the monetary policy strategy of the European Central Bank and analyse the use of monetary policy instruments, especially in crisis situations

  • Analyse the processes for creating a banking union and assess their completeness

  • Understand the regulation of the banking sector and the supervisory mechanisms and assess the long-term stability of the EU banking sector

  • Link the European resolution mechanism to EU legal, monetary and fiscal policy

  • Understand the determinants of exchange rates with particular reference to the impact of monetary policy on the EUR/USD exchange rate

  • Comment on the current inflation challenges and monetary policy decisions on the ultimate objective of monetary policy

  • Recognise how the European Central Bank is adapting to climate change as part of the Network to greening the financial system


  • Graduate students in economics (or in social sciences, technical sciences or science related fields) who intend to round out their knowledge in the field and use it in the proces of preparing dissertations.
  • Holders of undergraduate degrees or students in the last year of ther studies in economics or the social sciences who wish to study the field of behavioural economics.
  • Researchers and professionals working in the field.


This FEBT Summer school program offers participants the possibility of going through evaluation process for the purspose of requesting official credit transfers (ECTS).

  • Evaluation process

Participants who wish to acquire 3 ECTS will be evaluated based on the regular and active course attendance, two group assignments, two mid-term exams and taking a written exam (in case students who have not passed the intermediate examinations during the semester)

The goal of the exam is to show the necessary ability to understand the functioning of the EU monetary system and policy.


Participants not interested in credit transfer will instead receive the Certificate of Attendence, stating the course completed. These students will be neither evaluated nor graded.