FIN 301/ECON 210-10
MONEY AND BANKING
Instructor: Donald W. Swanton
Contact Information: office Wabash 1112Z, telephone (312) 281-3278, fax (312) 281-3290, email email@example.com, web site http://sites.roosevelt.edu/dswanton/. My web site has information about office hours etc.
Time and place: Monday evening 6:00-8:30 WB
Text: The Economics of Money, Banking, and Financial Markets 10th ed. By Fredrick Mishkin, (M), Addison and Wesley ISBN 10: 0-13-277024-5. The loose leaf version is fine. I will be handing out my Notes on Money and Banking (S) in class as the semester progresses.
Prerequisites: ECON 101-102, MATH 116 or 121, ENG 101-102. The mathematics prerequisite is very important. Students who attempt this class before finishing it generally drop the class within a few weeks.
Goals: This course introduces students to the functions of banks and other financial intermediaries and the economic theories of the roles of money and of the central bank in the economy. It is both theoretical and historical. We will talk about financial crises, and since our understanding of the last crisis is rapidly evolving, I reserve the right to add new material at any time. We will discuss ethical issues for each crisis.
Student Learning Objectives: business discipline principles.
Grades: Grades will be determined by the average of the best three out of the four quiz grades. Quizzes will receive the numerical version of letter grades, A = 4.00, A/B = 3.50, B = 3.00 B/C = 2.50, etc. It takes and average of at least 3.51 for an A, 2.51 for a B, etc.
Attendance: I do not take attendance.
Plagiarism: Please review Roosevelt’s policy on plagiarism. www.roosevelt.edu/plagiarism
Religious Holidays: Roosevelt’s policy is to accommodate students who will be celebrating religious holidays. Talk to me in the first couple of weeks, and we will work something out.
Notes: My Notes on Money and Banking currently consist of:
S1 Functions of the Financial System
S2 Money and the Economy as a Whole
S3 Interest Rates and Bond Prices
S4 The Supply of Money
S5 The Demand for Money
S6 The Theory of Interest
S7 The Golden Savings and Loan Case: an Economic and Ethical Analysis
S8 Inflation and its Effects.
As of July 2, 2015
Date Chapters Topics
Aug 24 S1, S2, M1-3 Introduction, the economy as a whole, money and banks
Aug 31 S1, S2, S3 The economy, interest rates and bond prices
Sep 7 ///// Labor Day no class
Sep 14 M8 Financial structure, adverse selection and moral hazard
Sep 21* S4, M13, M14 The supply of money, the monetary base
Sep 28 S4, M13, M14 Deposit creation and the supply of money
Oct 5 S4, S5 More; the Quantity Theory, Fisher and velocity
Oct 12* S5 The demand for money, Fisher and Cambridge
Oct 19 S5 Keynes, Friedman
Oct 26 S5, S6 Efficient Markets and Rational Expectations
Nov 2 S6 The theory of interest, Fisher and the ex ante real rate
Nov 9* S6, S8 More, the Fed and interest rates, inflation
Nov 17 S6, S8 Financial crises, the Great Depression
Nov 23 M9, S7 The Savings and Loan Crisis of the 1980’s
Nov 30 M9 The Subprime Crisis
Dec 7* //// Last Quiz
An asterisk * denotes a quiz that week including exam week. This schedule is tentative and subject to drastic rearrangement depending on the state of the economy and the actions of the Federal Reserve. Consult my web page for the current version.
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