ECON 7114 - Money, Banking and Financial Markets PG

North Terrace Campus - Semester 2 - 2017

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 2
    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
    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.

  • 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)
    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)
    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
    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
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    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
    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
  • 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.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    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:
    • Lectures: 2 hours
    • Tutorials: 1 hour
    • Independant Study (includes preparation for tutorials, mid-semester and final exam): 9 hours
    Learning Activities Summary
    Teaching & Learning Activities Related Learning Outcomes
    Lectures 1-3
    Tutorials 3-5

    Lecture Schedule

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

      1) A simple model of money demand

       2) A simple model of inflation

       3) A simple model of exchange rates

       4) The Phillips curve and Lucas critique

       5) Modeling liquidity and financial intermediation

       6) Modeling bank risk

    Specific Course Requirements
    No specific requirements. Students are expected to regularly attend both lectures and tutorials and to actively participate during the tutorials.
    Small Group Discovery Experience
    A Small Group Discovery Experience is not offered for this course.
  • 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 Due Date/ Week Weight Length Learning Outcomes
    Tutorial Participation (group work) Weekly 20% N/A 1-5
    Mid-term Exam Week 7 30% TBA 1-5
    Final Exam Week TBA 50% 3 hours 1-5
    Total 100%
    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
    • The mid-term counts for 30% of the overall grade for that course.
    • The mid-term exam will cover the material that will have been discussed during the lectures and tutorials up to the date of the mid-term exam.
    • 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 80% towards the final course grade.
    Tutorial Participation
    • Tutorial Participation counts for 20% of the overall grade for that course.
    • The marks for Tutorial Participation is determined by 2 components:
    •   a. Regular attendance and active participation;
    •   b. The quality of the student's written solution to the weekly tutorial assignment. Each week, tutors will randomly selected a few students and grade their homeworks.
    Final Exam
    The Final Exam is a closed-book 3-hour examination and counts for 50% of the overall grade for that course. The final examination date will be advised by the University. Students are required to make themselves available for the entire examination period.

    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.

  • 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.