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Money, Banking and Financial Markets

  • Module code: FE6003
  • Year: 2018/9
  • Level: Year 6
  • Credits: 30.00
  • Pre-requisites: Macroeconomics
  • Co-requisites: None

Summary

The module focuses on understanding the monetary sector of the economy. The role of banks and financial markets will lay the foundations for understanding the ensuing topics. The module proceeds to explain the interaction between money and the economy, and moves on to monetary policy institutions and strategies. The module closes with a discussion of financial crises.

Aims

  • To analyse the role of money in the economy
  • To understand the role of the banking system
  • To examine the economics behind monetary policy design and implementation
  • To consider how institutions play a role in the prevention and management of financial crises

Learning outcomes

  • Explain the role of money and financial institutions
  • Understand banks and financial markets
  • Describe, and consider the implications of, monetary policy design and implementation
  • Demonstrate an understanding of financial crises

Curriculum content

  •  The Financial System
  •  Money and the Central Bank
  •  Asset Prices and Interest Rates
  •  What Determines Interest Rates?
  •  Securities Markets
  •  Foreign Exchange Markets
  •  Asymmetric Information in the Financial System
  •  The Banking Industry
  •  The Business of Banking
  •  Bank Regulation
  •  The Money Supply and Interest Rates
  •  Short-Run Economic Fluctuations
  •  Economic Fluctuations, Monetary Policy, and the Financial System
  •  Inflation and Deflation
  •  Policies for Economic Stability
  •  Monetary Institutions and Strategies
  •  Monetary Policy and Exchange Rates
  •  Financial Crises

Teaching and learning strategy

Teaching will take the form of weekly lectures and seminars. The lectures will introduce and highlight the main issues within each topic. The seminars will explore real-life applications of the concepts learned in the lecture, mainly through the reading and discussion of relevant journal articles and country case studies.

Breakdown of Teaching and Learning Hours

Definitive KIS Category Indicative Description Hours
Scheduled learning and teaching Weekly two-hour lecture and one-hour seminar 72
Guided independent study Independent guided study Assessment preparation 228
Total (number of credits x 10) 300

Assessment strategy

The module is assessed by a 2-hour end-of-year unseen exam, a case study, and a 1,500-word essay. The final exam evaluates the knowledge and understanding of key theoretical models. The case study focuses on evaluating the student's ability to understand real-life problems relevant to the module. The essay aims at testing the student's capacity to communicate, at length and in-depth, relevant concepts and information taught in the module.

Mapping of Learning Outcomes to Assessment Strategy (Indicative)

Learning Outcome Assessment Strategy
Explain the role of money and financial institutions Final exam
Understand banks and financial markets Final exam
Describe, and consider the implications of, monetary policy design and implementation Case study
Demonstrate an understanding of financial crises Essay

Breakdown of Major Categories of Assessment

Assessment Type Assessment Name Assessment Weighting
CWK Case study 25
CWK Essay 25
EXWR Two hour unseen examination 50
Total (to equal 100%) 100%

Achieving a pass

It IS NOT a requirement that any major assessment category is passed separately in order to achieve an overall pass for the module

Bibliography core texts

Ball, Laurence M. (2012) Money, Banking, and Financial Markets, 2nd edition, Worth publishers.

Bibliography recommended reading

Ghatak, Subrata, and José R. Sánchez-Fung (2007) Monetary economics in developing countries, third edition, Palgrave Macmillan.

Mishkin, Frederic S. (2012) The Economics of Money, Banking, and Financial Markets, 10th edition, Pearson publishers.

Walsh, Carl E. (2010) Monetary Theory and Policy, 3rd edition, the MIT Press. [Advanced text]

 

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