ECON 3511 - Money, Banking and Financial Markets III
North Terrace Campus - Semester 1 - 2020
General Course Information
Course Code ECON 3511 Course Money, Banking and Financial Markets III Coordinating Unit School of Economics Term Semester 1 Level Undergraduate Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange Y Assumed Knowledge ECON 1012 & ECON 1009 Course Description 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.
Course Coordinator: Dr Nicolas Groshenny
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:
- Use models to analyze monetary and macroeconomic issues.
- Explain how central banks conduct monetary policy.
- Identify the economic principles underlying the operation of financial intermediaries.
- 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)
1,2,3,4 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
1,2,3,4 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
1,2,3,4 Career and leadership readiness
- technology savvy
- professional and, where relevant, fully accredited
- forward thinking and well informed
- tested and validated by work based experiences
- Compulsory: "Modeling Monetary Economies, 4th Edition," by Bruce Champ, Scott Freeman and Joseph Haslag, published by Cambridge University Press. I will follow that textbook closely. You can buy it at the University bookshop.
Online LearningRegular attendance is crucial and compulsory.
There will be many lectures during which I will use the whiteboard to derive equations step-by-step. There is simply not enough room on an A4 piece of paper to use with the document camera. The camera does not automatically follow the lecturer’s movements, so I record voice and PowerPoint input only. When I am writing on the whiteboard, you will not see this on the recording. This means that if you do not attend lectures, and only view the recordings, you will not get all the information that you would if you had attended the lecture. So to get the most out of your enrolment in this course, come to lectures every week.
Learning & Teaching Activities
Learning & Teaching ModesLectures (up to 3 hours per week) supported by tutorials (1 hour per week).
Regular attendance at lectures and tutorials 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 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: 1 hour
Independent Study (includes preparation for tutorials, mid-semester and final exam): 9 hours
Learning Activities SummaryThe 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 RequirementsStudents are expected to attend lectures regularly and actively participate in the tutorials.
Regular attendance 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 SummaryDue 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.
Assignment Task Weighting Weekly Tutorial Assignments 40% End-of-semester written report: 60%
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 DetailMidterm (maximum marks = 30)
- 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.
- 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.
- The date of the mid-term exam will be advised during the first lecture.
- The "Tutorials" component will count for 30% of the final course grade and 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
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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