ECON 3511 - Money, Banking and Financial Markets III

North Terrace Campus - Semester 1 - 2021

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.

  • General Course Information
    Course Details
    Course Code ECON 3511
    Course Money, Banking and Financial Markets III
    Coordinating Unit 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
    Assessment Typically a mid-Semester test, assignments, tutorial participation and 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. Use models to analyze monetary and macroeconomic issues.
    2. Explain how central banks conduct monetary policy.
    3. Identify the economic principles underlying the operation of financial intermediaries.
    4. 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)
    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
  • Learning Resources
    Required Resources
    • 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.
    Recommended Resources
    Online Learning
    Lectures will be recorded and made available to students on MyUni on a weekly basis.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    Recorded lectures (2 hours per week) supported by tutorials (1 hour per week).

    Regular attendance at tutorials is crucial and compulsory.

    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:

    - Watching recorded lectures: 2 hours per week.

    - Attending weekly tutorial: 1 hour per week.

    - Independent Study (includes reading lecture notes, textbook's chapters, and other suggested articles + preparation for weekly tutorial (reading required articles + exercises) + preparation for  mid-semester exam and for final exam): 9 hours per week.
    Learning Activities Summary
    The course outline provided below is tentative and subject to changes.

    1) A Simple Model of Money (Ch. 1) [Week 1-2]

    2) Inflation (Ch. 3) [Week 3-4]

    3) International Monetary Systems (Ch. 4) [Week 5-6]

    4) The Phillips Curve (Ch. 5) [Week 7-8]

    5) Capital (Ch. 6) [Week 9]

    6) Liquidity and Financial Intermediation (Ch. 7) [Week 10]

    7) Bank Risk (Ch. 12) [Week 11]

    8) Liquidity Risk and Bank Panics (Ch. 13) [Week 12]
    Specific Course Requirements
    Students are expected to watch lectures regularly.

    Students are expected to prepare for the weekly tutorial by reading the required articles and working on the exercise(s). Students are also expected to actively participate in the tutorials.

    For mid-term exam and final exam: Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process, and may affect marks.  Marks cannot be awarded for answers that cannot be read or understood.
  • 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 Task Type Weighting Learning Outcome
    Active Participation in Tutorials Individual 10% 1 - 4
    Mid-semester Exam Individual 40% 1 - 4
    Final Exam Individual 50% 1 - 4
    Total 100%
    Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process, and may affect marks.  Marks cannot be awarded for answers that cannot be read or understood.
    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
    Midterm (maximum marks = 40)
    • 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 40% of the final course grade.
    • The date of the mid-term exam will be announced on MyUni within the first two weeks.
    Active Participation in Tutorials (maximum marks = 10)

    Final Exam (maximum marks = 50)
    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.

    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.
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    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
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