Course Syllabus for "ECON302: Money, Banking, And Financial Markets"
This course is designed to provide you with a thorough understanding of the importance of money, banking, and financial markets of a developed economy. Money, financial institutions, and financial markets have emerged as instruments of payments for the services of factors of production, such as labor and capital. The use of money facilitates business in a market by acting as a common medium of exchange. Of course, as that market expands and develops on a national and international level, the importance of money, banking, and other financial markets expands to accommodate innumerable exchanges. This course will allow you to examine not only the origins and nature of money, but also the institutions and markets that have evolved to enable the exchange of goods and services worldwide. It will provide you with the opportunity to examine the instruments and strategies assisting production, distribution, and consumption. Also, this course will help you develop an appreciation for important concepts in economics, from interest rates and central banking to stocks, bonds, and foreign exchange.
Upon successful completion of this course, the student will be able to:
- Identify the implications, risks, and opportunities of global markets.
- Acquire and demonstrate analytical and problem solving skills within money, banking, and financial market disciplines.
- Assess how monetary activities affect an economy.
- Describe the structure of financial markets, the factors that shape them, and how they are regulated.
- Explain the nature and functions of money.
- Explain the role of financial markets in the economy.
- Assess the responses of the economy to both monetary and fiscal policy.
- Explain the basic purposes of the monetary and financial systems.
- Identify the markets for stocks, bonds, derivatives, and currencies.
- Explain the roles of banks and other financial intermediaries.
- Analyze how the Fed affects the economy.
- Identify how current money is traded for future money.
- Explain the concept “time value of money”.
- Discuss how one party to the transaction can make a decision at a later time that will affect subsequent transfers of money.
- Explain how information about the future can reduce the uncertainty associated with future monetary value.
- Assess how a financial crisis happens and how policy makers should respond.
In order to take this course you must:
√ Have access to a computer.
√ Have continuous broadband Internet access.
√ Have the ability/permission to install plug-ins or software (e.g., Adobe Reader or Flash).
√ Have the ability to download and save files and documents to a computer.
√ Have the ability to open Microsoft files and documents (.doc, .ppt, .xls, etc.).
√ Be competent in the English language.
√ Have read the Saylor Student Handbook.
Welcome to ECON302. Below, please find general information on the course and its requirements.
Course Designer: Samuel K. Andoh
Primary Resources: This course is composed of a range of different free, online materials. However, it makes primary use of the following materials:
- Lecture slides for Frederic Mishkin’s The Economics of Money, Banking, and Financial Markets (8e)
- Optional: The Economics of Money, Banking, and Financial Markets (9e)
- Money and Banking, v. 1.0 (HTML | PDF)
- Articles from various sources available on the internet
Requirements for Completion: In order to complete this course, you
should have completed principles of microeconomics (ECON101) and
principles of macroeconomics (ECON102). These pre-requisites lay the
foundation for understanding the advanced material in ECON302.
You have to work through each unit of this course and all of its assigned materials. In order to pass this course, you have to complete the final exam and earn a 70% or higher. Your score on the exam will be tabulated as soon as you finish it. If you do not pass the exam, you may take it again.
Note that you will only receive an official grade on your final exam.
However, in order to adequately prepare for it, you will need to work
through the assignments and all the reading material in the course.
Time Commitment: This course should take you a total of approximately 90 hours to complete. Each unit includes a time advisory that lists the amount of time you are expected to spend on each subunit. These should help you plan your time accordingly. It may be useful to take a look at these time advisories and to determine how much time you have over the next few weeks to complete each unit and set goals for yourself.
Tips/Suggestions: It is important to pay close attention to the new terminologies you encounter in this course and every other course. You may think you know what money, income or finance is, but as used by economists, these words have technical meanings. Spend the time to study the new vocabulary and it will pay handsome dividends.
As you read, take careful notes on a separate sheet of paper. Mark down any important equations, formulas, and definitions that stand out to you. These notes will be useful to review as you study for your final exam.