ECON 7114 - Money, Banking and Financial Markets PG

North Terrace Campus - Semester 1 - 2020

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

Open All

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 or equivalent
Assessment	Typically, tutorial work, mid-Semester test, & final exam

Course Staff

Course Coordinator: Dr Nicolas Groshenny

Course Timetable

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

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)
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)	1-5
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	1-5
Teamwork and communication skills developed from, with, and via the SGDE honed through assessment and practice throughout the program of studies encouraged and valued in all aspects of learning	1-5
Career and leadership readiness technology savvy professional and, where relevant, fully accredited forward thinking and well informed tested and validated by work based experiences	1-5
Intercultural and ethical competency adept at operating in other cultures comfortable with different nationalities and social contexts able to determine and contribute to desirable social outcomes demonstrated by study abroad or with an understanding of indigenous knowledges	1-4
Self-awareness and emotional intelligence a capacity for self-reflection and a willingness to engage in self-appraisal open to objective and constructive feedback from supervisors and peers able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate	4,5

Learning Resources

Required Resources

The textbook for this course is:

Champ, Freeman and Haslag: "Modeling Monetary Economies," 4th Edition, Cambridge University Press.

Online Learning

Weekly tutorial assignments will be posted on MyUni.

Regular attendance at lectures is crucial and compulsory. I record voice and PowerPoint input only. There will be many lectures during which I will use the whiteboard to derive equations step-by-step. When I am writing on the whiteboard, you will not see this on the recording. So to get the most out of your enrolment in this course, come to lectures every week.
Learning & Teaching Activities
Learning & Teaching Modes

Lectures (2 hours per week) supported by tutorials (1 hour per week).

Regular attendance at lectures is crucial and compulsory. I record voice and PowerPoint input only. There will be many lectures during which I will use the whiteboard to derive equations step-by-step. When I am writing on the whiteboard, you will not see this on the recording. So to get the most out of your enrolment in this course, come to lectures every week.

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 : 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 Summary

The course outline provided below is tentative and subject to changes.

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

   2) Inflation (Ch. 3)

   3) International Monetary Systems (Ch. 4)

   4) The Phillips Curve (Ch. 5)

   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 and tutorials.

Regular attendance at the lectures is crucial and compulsory. I record voice and PowerPoint input only. There will be many lectures during which I will use the whiteboard to derive equations step-by-step. When I am writing on the whiteboard, you will not see this on the recording. So to get the most out of your enrolment in this course, come to lectures every week.

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.

Assessment Summary

Tutorials	30%
Mid-Semester Exam	30%
Final Exam	40%

Due to the current COVID-19 situation modified arrangements have been made to assessments to facilitate remote learning and teaching. Assessment details provided here reflect recent updates.

To support the changes to teaching, the following revisions to assessment have been made:

Weekly Tutorial Assignments : 40% (average of a student’s best six assignments throughout the semester)
End-of-semester written report: 60%

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 (30 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 30% 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 70% towards the final course grade.

Tutorials (30 marks)

The component "Tutorials" will count for 30% of the final course grade. The marks for this component will be determined by the following two components:

a. Regular attendance and active participation;

b. The quality of the student's written solution to the weekly tutorial assignments.

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
This section contains links to relevant assessment-related policies and guidelines - all university policies.
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.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator