A study in the role of central banking and monetary policy in the United States and the European Union. Topics may include, but are not limited to, the quantity theory of money, inflation targeting versus long-term interest rates, supply shocks, the interaction of fiscal versus monetary stimulus, unconventional monetary policy, central bank transparency and usage of zero floor versus negative interest rates. Students will contrast the traditional approaches to monetary policy with the advances in central banking management in light of economic crises.