It is aimed that the student will analyze the future of the international monetary system, taking into account the developments in monetary policy strategies in developed, emerging and transition economies and financial crises in line with the knowledge of monetary theory and policy acquired at the undergraduate level.

Starting with the determination of the interest rate and the exchange rate, and giving information on the transmission channels, central bank independence and monetary policy regimes will be examined, and in this direction, firstly the applications regarding the monetary policy strategies in developed economies and then in emerging and transition economies will be discussed. The period will come to an end with the frequent financial crises and the effects of this on the future of the international monetary system.