The Department of Monetary Policy and Financial Markets (former Department of Money Theory and Monetary Policy) was established by the Senate of the Academy of Economics on 1 November 1999. The Head of the Department is prof. dr hab. Wiesława Przybylska-Kapuścińska.

From the beginning of its existence, the research activity of the Department was focused on the issues of central banking and Polish money markets. In 2002, the Department started work on a new research problem-Theoretical and practical bases of monetary policy. Additionally, in 2003, the statutory research were expanded with the issue of the European monetary system, which is still the subject of interest of the staff of the Department. Since 2008, the Department has been realizing another subject of the statutory research devoted to the Theory and practice of the functioning of the financial market. On top of that, the Department's scientists win competitions for research grants organized by the Ministry of Science and Higher Education and the National Science Centre.

The conducted research and implemented research grants result in numerous publications published by the Poznan Univeristy of Economics Publishing House or prestigious national publishers, such as  PWN, Twigger, Difin, CeDeWu, C.H. Beck, and Wolters Kluwer Polska. The Department also regularly publishes Research Bulletins devoted to the issues of monetary policy, functioning of monetary and capital markets, and central banking. Some examples of these Bulletins are  Debiuty Ekonomiczne series (published since 1999) and  Z prac młodych ekonomistów which aim to promote young economists – students or graduates of PUE. On top of that, the members of the staff prepare educational materials relating to the subjects they teach.

The Department also supervises the field of study Accounting and Treasury which becomes more and more popular, as well as new specialization Financial Investments at the Faculty of Economics.

The educational offer of the Department includes also postgraduate studies in various areas of its scientific and educational interests, for example Internal audit and management control, Finance and budgetary accounting, Financial investments, and Mechanisms of eurozone functioning (in cooperation with NBP).

The Department cooperated with the National Bank of Poland, Ministry of Finance, The Bureau of Research (BAS), Warsaw Stock Exchange SA, Banks of France, Belgium, and Italy, and the European Central Bank. It also develops cooperation with Polish and European business environment of economists by close contacts with business schools and faculties of economics at the universities. Every year, we participate in national and international scientific conferences, including Polich Conference of Finance Departments or Global Finance Conference and IMDA World Business Congress.

The Department also develops interest of its students by giving them the opportunity to become members of the Scientific Student Association  Pecunia Moderna. On top of that, students participate in conferences and scientific seminars, organize meetings with practitioners, but also take their own initiatives, for example organize the Finansomania competition which aim is to to popularize knowledge of finance .

We hope that our scientific and educational accomplishments will result in deepening  the tradition and strengthening the Department's position in the scientific environment and business life of the country. The balance of the previous years was very favourable – many publications, prizes and recognitions for scientific, didactic and organizational work. Additionally, the Department promoted 35 doctors.

We hope that our achievements will encourage future generations to continue our work – promoting knowledge of central banking and broadly defined money functioning in different markets, varieties and forms.

We teach the following subjects

Field: Money and monetary market

  • European monetary system
  • Monetary policy
  • Monetary policy of the central bank
  • Microeconomics


Field: Capital market and financial intermediary

  • Stock market analyses
  • Investment funds
  • Hedge funds
  • Stock markes as an institution of capital alocation
  • Investment and wealth management
  • Private asset and wealth management
  • Alternative investments
  • New financial services
  • Investment portfolio
  • Financial intermediary
  • Derivatives market
  • Financial markets
  • Mechanism of functioning of the foreign exchange market
  • Institutions and instruments of the financial market
  • Behavioral finance


Field : Accounting, financial reporting and corporate governance

  • Financial audit
  • Basics of audit and control
  • Accounting and budgetary reporting
  • Basics of accounting
  • Financial accounting
  • Managerial accounting
  • Accounting of small- and mid-size companies
  • Financial revision
  • Advanced financial accounting


Field: Treasury

  • Consultancy in public-private projects
  • Public debt management
  • Warranties and state guarantees
  • Treasury securities marke
  • Sources of funding business and public entities