ECON 7114 - Money, Banking and Financial Markets PG
North Terrace Campus - Semester 1 - 2016
General Course Information
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 Coordinator: Dr Nicolas Groshenny
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning Outcomes1. 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) Deep discipline knowledge
- informed and infused by cutting edge research, scaffolded throughout their program of studies
- acquired from personal interaction with research active educators, from year 1
- accredited or validated against national or international standards (for relevant programs)
1-4 Critical thinking and problem solving
- steeped in research methods and rigor
- based on empirical evidence and the scientific approach to knowledge development
- demonstrated through appropriate and relevant assessment
Required ResourcesThe textbook for this course is:
Champ, Freeman and Haslag: "Modeling Monetary Economies," 3rd Edition, Cambridge University Press.
Online LearningWeekly tutorial assignments will be posted on MyUni.
Learning & Teaching Activities
Learning & Teaching ModesLectures (up to 3 hours per week) supported by tutorials (up to 2 hours 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:
- Lectures : up to 3 hours
- Tutorials : up to 2 hours
- Independent Study (includes preparation for tutorials, seminars, mid-semester and final exam): about 7 hours per week on average.
Learning Activities SummaryThe 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 RequirementsStudents are expected to regularly attend and actively participate in the lectures, tutorials and seminars.
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Tutorials 25% Mid-Semester Exam 25% Final Exam 50%
Assessment Related RequirementsStudents 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 DetailMid-term: maximum marks (25 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 25% 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.
- The component "Tutorials" will count for 25% of the final course grade. The marks for this component will be determined by the following two components:
b. The quality of the student's written solution to the weekly tutorial assignments (15%).
Final Exam: maximum marks (50 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.
No information currently available.
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.
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.
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Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
- Academic Credit Arrangement Policy
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- Academic Progress by Coursework Students Policy
- Assessment for Coursework Programs
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- Modified Arrangements for Coursework Assessment
- Student Experience of Learning and Teaching Policy
- Student Grievance Resolution Process
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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