ECON 3511 - Money, Banking and Financial Markets III

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.

  • General Course Information
    Course Details
    Course Code ECON 3511
    Course Money, Banking and Financial Markets III
    Coordinating Unit School of Economics
    Term Semester 2
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week
    Available for Study Abroad and Exchange Y
    Incompatible ECON 3035 & ECON 7114
    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 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 the economic principles underlying the operation of financial intermediaries.
    2. Explain how central banks conduct monetary policy.
    3. Use models to analyze monetary and macroeconomic issues.
    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)
    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
    1,2,3,4
  • 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 are recorded. However regular attendance is crucial and compulsory.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    Lectures (2 hours per week) supported by tutorials (1 hour per 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: 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 1,2,3
    Tutorials 1,2,3,4


    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
    Students are expected to actively participate in all lectures and tutorials.
    Small Group Discovery Experience
    Not available for this course in 2014.
  • 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 Weighting Length (word linit) Learning Outcomes
    Tutorial Participation (individual) Week TBA 20% N/A 1,2,3,4
    Midterm Exam Week TBA 30% N/A 2,3
    Final Exam Week TBA 50% N/A 1,2,3,4
    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
    Midterm
    • The mid-term exam covers the material that has 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
    • The marks for Tutorial Participation is determined by 2 components:
                a. Active participation;
                b. Quality of written solution to weekly tutorial assignments
    Final Exam
    The final exam is a closed-book 3-hour examination.
    The date of the final examination date will be advised by the University.
    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.

  • 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.