ECON 7114 - Money, Banking and Financial Markets PG

North Terrace Campus - Semester 1 - 2024

This course links the fields of macroeconomics and central banking. The role of money in the economy and the impact of monetary policy on the macroeconomy are examined. The course aims at providing students with the means to analyse monetary questions and institutions. It is not a course designed to further technical expertise in the instruments used in financial markets. Theories will be introduced during the lectures. Practical applications to current issues in money and banking will be discussed during the tutorials

  • General Course Information
    Course Details
    Course Code ECON 7114
    Course Money, Banking and Financial Markets PG
    Coordinating Unit Economics
    Term Semester 1
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week
    Available for Study Abroad and Exchange Y
    Incompatible ECON 3511
    Assumed Knowledge ECON 7071
    Assessment Typically, tutorial work, mid-Semester test, & final exam
    Course Staff

    Course Coordinator: Dr Jacob Wong

    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes

    On successful completion of this course, students will be able to:

    1 identify and describe the economic principles underlying the operation of financial intermediaries.
    2 interpret the goals of monetary policy.
    3 explain how central banks conduct monetary policy.
    4 discuss contemporary issues in monetary policy and financial stability.
    5 conduct a theoretical analysis of real-world issues and phenomena in money and banking
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)

    Attribute 1: Deep discipline knowledge and intellectual breadth

    Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.


    Attribute 2: Creative and critical thinking, and problem solving

    Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.


    Attribute 3: Teamwork and communication skills

    Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.


    Attribute 4: Professionalism and leadership readiness

    Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.


    Attribute 5: Intercultural and ethical competency

    Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.


    Attribute 8: Self-awareness and emotional intelligence

    Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.

  • Learning Resources
    Required Resources
    The textbook for this course is:

    Champ, Freeman and Haslag: "Modeling Monetary Economies," 4th Edition, Cambridge University Press.
    Online Learning
    Lectures will be pre-recorded and made available to students on MyUni a weekly basis.

  • Learning & Teaching Activities
    Learning & Teaching Modes
    Recorded Lectures (2 hours per week) supported by tutorials (1 hour per week).

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    Students are expected to devote an average of 12 hours per week to this course:
    • Watching Lectures  : 2 hours per week
    • Attending Tutorials  : 1 hour per week
    • Independent Study  : 9 hours per week (includes reading lecture notes and textbook's chapters; preparing for the tutorial by working on the exercises and reading the required articles; preparing for mid-semester exam and final exam)
    Learning Activities Summary
    The course outline provided below is tentative and subject to changes.

      1) A Simple Model of Money (Ch. 1) [Week 1-2]

       2) Inflation (Ch. 3) [Week 3-4]

       3) International Monetary Systems (Ch. 4) [Week 5-6]

       4) The Phillips Curve (Ch. 5) [Week 7-8]

       5) Capital (Ch. 6) [Week 9]

       6) Liquidity and Financial Intermediation (Ch. 7) [Week 10]

       7) Bank Risk (Ch. 12) [Week 11]

       8) Liquidity Risk and Bank Panics (Ch. 13) [Week 12]
    Specific Course Requirements
    Students are expected to actively participate in the tutorials.

    For the mid-term exam and the final exam: Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process, and may affect marks.  Marks cannot be awarded for answers that cannot be read or understood.
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Assessment Task Task Type Weighting Learning Outcome
    Active Participation in Tutorials Individual 10%
    Mid-Semester Exam Individual 40%
    Final Exam Individual 50%
    Total 100%
    Note that legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process, and may affect marks.  Marks cannot be awarded for answers that cannot be read or understood.
    Assessment Related Requirements
    Students must obtain an overall grade of 50% to pass the course. This does not mean that students have to achieve 50% for each and every assessment task or for the final examination; but the sum of all assessment tasks must equal or exceed 50%.
    Assessment Detail
    Mid-term: maximum marks (40 marks)
    • The date of the mid-term exam will announced on MyUni at the beginning of the Semester (within the first two weeks).
    • The mid-term exam will cover the material that will have been discussed during the lectures, tutorials and seminars up to the date of the mid-term exam.
    • The mid-term will count for 40% of the final course grade
    Active Participation in Tutorials (10 marks)

    Final Exam: maximum marks (50 marks)
    The final examination date will be advised by the University. Students are required to make themselves available for the entire examination period.
    Tutorial assignments will be submitted in tutorial classes.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

    Additional Assessment
    If a student receives 45-49 for their final mark for the course they will automatically be granted an additional assessment. This will most likely be in the form of a new exam (Additional Assessment) and will have the same weight as the original exam unless an alternative requirement (for example a hurdle requirement) is stated in this semester’s Course Outline. If, after replacing the original exam mark with the new exam mark, it is calculated that the student has passed the course, they will receive 50 Pass as their final result for the course (no higher) but if the calculation totals less than 50, their grade will be Fail and the higher of the original mark or the mark following the Additional Assessment will be recorded as the final result.
  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy ( course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.