ECON 7114 - Money, Banking and Financial Markets PG

North Terrace Campus - Semester 1 - 2015

This course links the fields of macro-economics and finance. It provides coverage of economic principles that underlie the operation of banks and other financial institutions. The role of money in the economy and the impact of monetary policy on the macro-economy 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 bi-weekly seminar.

  • General Course Information
    Course Details
    Course Code ECON 7114
    Course Money, Banking and Financial Markets PG
    Coordinating Unit School of 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 & ECON 3035
    Assumed Knowledge ECON 7071 or equivalent
    Course Description This course links the fields of macro-economics and finance. It provides coverage of economic principles that underlie the operation of banks and other financial institutions. The role of money in the economy and the impact of monetary policy on the macro-economy 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 bi-weekly seminar.
    Course Staff

    Course Coordinator: Dr Nicolas Groshenny

    Course Timetable

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

  • Learning Outcomes
    Course Learning Outcomes
    1. To understand the economic principles underlying the operation of financial intermediaries.

    2. To understand how central banks conduct monetary policy.

    3. To understand contemporary issues in monetary policy and financial stability.

    4. To conduct a theoretical analysis of real-world issues and phenomena.
    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)
    Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised. 1, 2, 3, 4
    The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner. 4
    An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 3, 4
    Skills of a high order in interpersonal understanding, teamwork and communication. 4
    A proficiency in the appropriate use of contemporary technologies. 3, 4
    A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life. 1, 2, 3, 4
    A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community. 1, 2, 3, 4
    An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities. 1, 2, 4
  • Learning Resources
    Required Resources
    The textbook for this course is:

    Champ, Freeman and Haslag: "Modeling Monetary Economies," 3rd Edition, Cambridge University Press.
    Online Learning
    Weekly tutorial assignments will be posted on MyUni.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    Lectures (2 hours per week) supported by tutorials (1 hour per week) and seminars (2 hours every forthnight).
    Workload

    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:
    • Lectures  : 2 hours
    • Tutorials  : 1 hour
    • Seminars  : 1 hour
    • Independent Study (includes preparation for tutorials, seminars, mid-semester and final exam): 8 hours
    Learning Activities Summary
    The course outline provided below is tentative and subject to changes.

    Part I: Money

      1) A Simple Model of Money (Ch. 1)

       2) Inflation (Ch. 3)

       3) International Monetary Systems (Ch. 4)

       4) The Phillips Curve (Ch. 5)


    Part II: Banking

       5) Capital (Ch. 6)

       6) Liquidity and Financial Intermediation (Ch. 7)

       7) Bank Risk (Ch. 12)

       8) Liquidity Risk and Bank Panics (Ch. 13)
    Specific Course Requirements
    Students are expected to regularly attend and actively participate in the lectures, tutorials and seminars.
  • 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
    Tutorial Active Participation 20%
    Seminar Active Participation 20%
    Mid-Semester Exam 20%
    Final Exam 40%
    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 (20 marks)
    • The date of the mid-term exam will advised during the first lecture.
    • 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 20% of the final course grade
    • There will be no retake or supplementary exam for the mid-term exam. Any student who misses the mid-term exam, for whatever reason, will have his/her final exam mark reweighted to count 60% towards the final course grade.
    Active Participation in Tutorials (20 marks)
    • "Tutorial Participation" will count for 20% of the final course grade.
    • The marks for "Tutorial Participation" will be affected by 2 components:    a. Regular attendance and active participation;
             a. Regular attendance and active participation;

             b. The quality of the student's written solution to the weekly tutorial assignment. Each week, the tutor will select a few students and grade their homeworks. 


    Active Participation in Seminars (20 marks)
    Active participation in seminars will count for 20% of the final course grade.
    Students are expected to regularly attend the forthnightly seminars.
    Students will be assigned articles to present to the class during the seminars.
    Students will be evaluated according to the quality of their presentations and the pertinence of their discussion.

    Final Exam: maximum marks (40 marks)
    The Final Exam will be a closed-book 3-hour examination. The final examination date will be advised by the University. Students are required to make themselves available for the entire examination period. I will not make special arrangements for any student.
    Submission

    No information currently available.

    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 (http://www.adelaide.edu.au/policies/101/) 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.

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