What you’ll learn4 learning objectivesChoose one objective for a focused lesson, or study the complete topic.5.3.1Monetary policy• Definition of monetary policySyllabus objective5.3.2Monetary policy tools• Tools of monetary policy: interest rates, money supply and credit regulationsSyllabus objective5.3.3Monetary policy stance• Distinction between expansionary and contractionary monetary policySyllabus objective5.3.4Monetary policy in AD/AS• AD/AS analysis of the impact of expansionary and contractionary monetary policy on the equilibrium national income and the level of real output, the price level and employmentSyllabus objective