ECON 1009NA - International Financial Institutions & Markets I

Ngee Ann-Adelaide Education Centre - Trimester 2 - 2017

This course provides an introduction to the institutions, markets and securities that form the basis of modern financial and monetary systems. Australian as well as international economies and their financial systems will be considered with reference to current financial news and affairs. This course also introduces some of the main theories and quantitative concepts and methods used in financial economics and provides a sound basis for students progressing to the study of economics and finance at higher levels within the University. At the same time, it is a valuable, self contained and up-to-date overview of international financial markets and institutions for non-specialists.

  • General Course Information
    Course Details
    Course Code ECON 1009NA
    Course International Financial Institutions & Markets I
    Coordinating Unit School of Economics
    Term Trimester 2
    Level Undergraduate
    Location/s Ngee Ann-Adelaide Education Centre
    Units 3
    Contact Intensive
    Available for Study Abroad and Exchange N
    Course Description This course provides an introduction to the institutions, markets and securities that form the basis of modern financial and monetary systems. Australian as well as international economies and their financial systems will be considered with reference to current financial news and affairs. This course also introduces some of the main theories and quantitative concepts and methods used in financial economics and provides a sound basis for students progressing to the study of economics and finance at higher levels within the University. At the same time, it is a valuable, self contained and up-to-date overview of international financial markets and institutions for non-specialists.
    Course Staff

    Course Coordinator: Dr Steven Hail

    Course Timetable

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

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

    Each student is expected to attend at least twenty hours of lectures and ten hours of tutorials across the course, separated into two intensive offerings. The lectures will be used to explain the concepts, theories and models relevant to financial institutions and financial markets, whilst the tutorial time will be used to apply the acquired knowledge to practice questions. The tutorial questions will consist of a mix of real world and theoretical, quantitative and analytical, questions which will be posted on MyUni prior to the tutorials.Students are expected to study the course materials carefully and to actively engage in class discussions. All work discussed in both the lectures and the tutorials and any submitted material will form the basis for the final examination.
  • Learning Outcomes
    Course Learning Outcomes

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

    1. Identify and explain the main functions of the principal financial markets and institutions in a typical modern financial system.
    2. Apply balance sheet principles to describe and analyse the business of banking, the financial relationships which exist between different financial institutions, and those between the financial system and the rest of the economy.
    3. Identify the objectives of monetary policy, and to describe both orthodox and unconventional approaches used around the world to monetary policy implementation.
    4. Describe how the foreign exchange market works, identify the main determinants of movements in floating exchange rates, and to relate exchange rate policy to monetary policy.
    5. Identify and describe futures and options contracts, and to explain the main determinants of the value of an options contract.
    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 - 5
    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
    1 - 5
  • Learning Resources
    Required Resources

    Required Text: Tymoigne, E (2016)      The Financial System and the Economy: Principles of Money and Banking


    This text is available for download on  

    https://www.scribd.com/document/322104849/the-financial-system-and-the-economy


    for the whole book, or

    http://neweconomicperspectives.org/2016/01/money-banking-part-1.html


    for individual chapters.

    Recommended Resources

    Other resources will be supplied on the Canvas course web-site.

    Online Learning
    All of the material related to the course, e.g. supportive readings, tutorial questions, lecture slides, practice questions, practice examination papers and the full details of each assessment task will be available on MyUni.

    To encourage collaborative learning, the course will also make use of discussion boards on the MyUni webpage.

    There will be separate forums for each component of the course and students are encouraged to use these forums for questions. The forums will be monitored regularly and managed by the course co-ordinator.

    The purpose of the forums is to encourage student’s collaborative learning and provide all students with equal access to information related to the course.

    Course Website: www.myuni@adelaide.edu.au


  • Learning & Teaching Activities
    Learning & Teaching Modes
    The course is based on a mix of lectures, tutorials, on-line resources, and both summative and formative assessments.
    Workload

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

    The University expects full-time students in a 12 week semester to devote a total of at least 12 hours per week over a 12 week period to their studies. Students in this course are expected to attend all lectures and assigned tutorials scheduled throughout the semester.

    Consequently, on a comparable course such as this one it is expected that students will devote the equivalent of at least 144 hours of learning activities over the period of this course if they expect to receive a pass mark.
    Learning Activities Summary

    Lectures, tutorials and independent and small group learning are all essential components of the learning activities on this course. Your active participation in each element of the course is required, if you are to be successful.

    Tutorials are particularly important  - the communication skills developed in tutorials by regularly and actively participating in discussions are considered to be most important by the School and are highly regarded by employers and professional bodies.

    There will be an emphasis on group discussions, and active learning in small groups throughout the tutorials. In addition, participants will be encouraged to contribute to on-line discussions.

    The schedule of the lectures, tutorials and readings is as follows.


    Days 1-5 are from the 1st Intensive


    Day 1  Introduction to Financial Institutions and Markets


    Day 2 Introduction to Central Banking


    Day 3 Introduction to Monetary Policy and Interest Rates


    Day 4 Commercial Banking and Leverage


    Day 5 Money Creation and Banking Regulation



    BREAK (During which your assignment must be prepared and submitted)


    Days 6-10 are from the 2nd Intensive


    Day 6 Economic Growth, Inflation and the Financial System


    Day 7 Financial Crises and Macroeconomics


    Day 8 Financial Instruments, Securities and Monetary Systems



    Day 9 Equity and Currency Markets


    Day 10  Futures and Options Markets

     

    Specific Course Requirements
    To gain a pass mark in this course, at least 50 per cent must be obtained overall.
  • 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 Item Due                  Weighting Learning Outcomes
    On-line test (on-line) After the first intensive 10% 1-2
    In-class test (in class) Final Day of the second intensive 20% 3-5
    Assignment Completed between the intensives 20% 1-2
    Final examination TBA 50% 1-5
    Overall 100% 1-5


    Assessment Related Requirements
    To gain a pass mark in this course, at least 50 per cent must be obtained overall.
    Assessment Detail
    Online Test 10%:

    Due Date: A date will be provided in the first intensive. It will be between the two intensives

    Class Room Test 20%:

    Due Date: This will take place during the last day of the second intensive.

    Assignment 20%:


    Full details of this assignment will be provided on MyUni on the first day of the first intensive.

    Due Date: To be published on Myuni at the beginning of the course.

    Final Examination 50%:

    There will be a two hour final examination for this course which will be held during the examination period. You will be advised of the date, time and venue in due course.
     
    A mock exam will be published on MyUni.
    Submission
    The  Assignment should be submitted on-line via MyUni by the date provided on the first day of the course. 

    Late submission will be penalised by the loss of 2% of the 20% available per day - in other words, by the loss of 10% of the maximum mark which can be awarded for the assignment, per day.

    Instructions on submission will be provided on MyUni.
    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 (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.

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.