ࡱ> 5@ 0 bjbj22 (XXD#D#D#D#d# @h%%%%*&'''f@h@h@h@h@h@h@+BR}D~h@9+''9+9+h@%*&}@,,,9+"%*&f@,9+f@,,,V5@F6%T% |$D#[+5 J;@0@5xD ,DF6F6DZ6'',()&'''h@h@", "Money and Banking, Fall 2009 Economics 320 Lecturer: Dr. Niklas Hunter Office: Sage Hall 2042 E-mail: niklas.hunter@csuci.edu Office hours: T 2:15 4:15pm , R 5:50 6:50 Class time: Class location: M/W 3-4:15pm Bell Tower 2582 Mid-term exam: Monday 19 Oct. (in class) Final exam: Monday 7 Dec. 4:00 6:00 pm Course website:  HYPERLINK "http://blackboard.csuci.edu" http://blackboard.csuci.edu Required reading: The Economics of Money, Banking and Financial Markets by Frederic S. Mishkin (8th edition, Pearson, Addison, Wesley, 2006) Grading system Your grade for the course is based on homework and exams in the following way: TaskPercent of gradeHomework assignments15Mid term exam 35Final exam 50 Grades for total points from the homework and exams will be assigned according to the following distribution: 90%-100%: A+, A, A- 80%-89%: B+, B, B- 70%-79%: C+, C, C- 60%-69%: D+, D, D- I may also adjust the scores to account for the difficulty of the exams. For example, if few people get a final score above 90% because of difficult exams, then I will give out more As to account for difficultly of the exams. In this case, I typically assign a median (midpoint) grade of a B-/C+. Exams There will be no make-up exams, so if you can not attend class on the day of the midterm or you can not attend the final exam, please do not enroll in this course for a grade. You are welcome to take the course for a pass-fail grade. The mid-term exam will cover all material up to that date. The final exam will concentrate on material after the mid-term exam, but will also include some earlier material. Both exams will include multiple choice questions and short answer questions focused on the lecture notes and assigned reading. Homework assignments Homework assignments must be turned in at the beginning of lecture. Late homework will not be accepted. The assignments will typically consist of 10-15 multiple choice problems based on the assigned reading and lecture notes. One of the homework assignments may include an essay question. Course overview This course will study financial institutions and monetary policy in the US. We will consider the role of money, interest rates, and bonds in the economy. We will also study the importance of regulating the banking system, and the tools of monetary policy, and why the current financial crisis happened. The course is a mix of theory and applications of theory to real policies and issues. The theory is intended to give you a methodical way to think about important issues in economics (and in real life) and to simplify them so that they are more comprehensible. Learning objectives: At the end of this course, good students will be able to define money and to understand its use to calculate interest rates on bonds to predict how interest rates change in response to outside economic changes to explain how banks use a balance sheet to explain important banking regulations in the US to explain how the Federal Reserve System functions to explain how money is created by banks to explain how the foreign exchange market and aspects of the international financial system work to predict how monetary policy influences inflation, production and employment Cheating Don't cheat. Any case of cheating, including looking at another students test booklet while taking an exam will be referred to Judicial Affairs. Working with fellow students on homework assignments, however, is not cheating and is encouraged. Disability Accommodations: Cal State Channel Islands is committed to equal educational opportunities for qualified students with disabilities in compliance with Section 504 of the Federal Rehabilitation Act of 1973 and the Americans with Disabilities Act (ADA) of 1990. The mission of Disability Accommodation Services is to assist students with disabilities to realize their academic and personal potential. Students with physical, learning, or other disabilities are encouraged to contact the Disability Accommodation Services office at (805) 437-8510 for personal assistance and accommodations. Mandatory Furloughs. The California State University system requires that nine days this semester be scheduled as mandatory furlough days (non-teaching). The University has required that Monday, November 23rd, Tuesday, November 24th, and Wednesday, November 25th (the week of Thanksgiving) be designated as three of the nine mandatory furlough days. Consequently, we will not meet in class on either Monday, November 23rd or Wednesday November 25th. The remaining six furlough days I have selected for the Fall 09 do not coincide with this course (or any other course I teach, for that matter). DateLecture topicAssigned readingHomework assignment24 Aug.Why study money, banking, and financial marketsChapter 126 Aug. Overview of the financial systemChapter 231 Aug.Overview of the financial systemChapter 22 Sept.What is moneyChapter 3Chapter 2 problems due9 Sept.Understanding interest ratesChapter 414 Sept.Understanding interest ratesChapter 416 Sept.The behavior of interest ratesChapter 521 Sept.The behavior of interest rates Chapter 523 Sept.Bank balance sheetsChapter 925 Sept.Bank managementChapter 928 Sept.Evolution of bank regulationChapter 10Chapter 9 problems due5 Oct.Evolution of bank regulation Chapter 107 Oct.Analysis of bank regulations Chapter 1112 Oct.Bank failuresChapter 1114 Oct.ReviewChapter 11 problems due19 Oct.Midterm21 Oct.The structure of the Federal Reserve SystemChapter 1226 Oct.Central bank independenceChapter 1228 Oct.Money creationChapter 1330 Oct.Money creationChapter 134 Nov.Money creationChapter 14Chapter 13 problems due9 Nov.Money creationChapter 1416 Nov.A model of monetary policy Chapter 1518 Nov.Tools of monetary policyChapter 1523 Nov.Goals of monetary policyChapter 16Chapter 15 problems due25 Nov.Monetary policy, prices and the macroeconomyChapter 1630 NovPredicting exchange ratesChapter 172 Dec.Review7 Dec.Final Exam, 4:00-6:00pmThis schedule is subject to possible changes. *+36:GHIS^abcnͽ委|t|lah ahwCJaJhpCJaJhCJaJhx\CJaJhW5CJaJh\>CJaJhYh\>CJaJh `CJaJh-Edh\>CJaJhwhaClCJaJh-EdCJaJhCJaJhaClCJaJh*xCJaJh~ GCJaJh"3CJaJh-Edh-EdCJaJhCcCJaJ&+HIc J K 7 8 ; < p^p`gdRX p^p`gd p^p`gd1}p7$^p`gd wgd gdgdaClgd-Edgd"3     % , I J K R Y Z [ \ ] ǿ煅݉wiXi@/jhZ;h*x>*B*CJUaJph h>h*x>*B*CJaJphh*x>*B*CJaJph#jh*x>*B*CJUaJphh-Edh-EdCJaJh1CJaJh{CJaJh-Edhj9~CJaJhj9~CJaJht2CJaJhCJaJh ah-EdCJaJh ah{CJaJh\>CJaJhGhTCJaJh"3CJaJhCJaJ 3 4 5 6 7 9 : ; < E ɾ|tld\TLCh[vC>*CJaJhRXCJaJh/CJaJhOCJaJhQCJaJh-EdCJaJh1}CJaJhCJaJh/vCJaJhCchCcCJaJhCchCc>*CJaJh-Edh-EdCJaJhdCJaJh7CJaJh>hCJaJh(h>CJaJh(B*CJaJphhZ;h*x0JCJaJ#jh*x>*B*CJUaJphE J K L T  ׻׳׻תynchp@hCJaJhuhCJaJh\#hCJaJhuh>*䴳>*䴳>*䴳䴳ڱ>*䴳=䴳5䴳䴳ڱ䴳ڱ䴳ڱ䴳ڱ>*䴳*>*䴳$< K L Ukd$$IfT0W\u  t04 apT $$Ifa$gd[vCgd[vC@&gd[vC zz $$Ifa$gd[vCxkd$$IfT0W\u t04 aT zz $$Ifa$gd[vCxkdr$$IfT0W\u t04 aT ^ u ||||||||||||gdgd[vCxkd$$IfT0W\u t04 aT   ^pux?@A˶~vnfn[huhCJaJh[8CJaJhHCJaJh&xXCJaJh~PCJaJhD<CJaJhJCJaJh+CJaJhtCJaJhaClCJaJh[vCCJaJhuh[vC>*CJaJh]P>*CJaJh>*CJaJh[vC>*CJaJhCJaJh1CJaJhp@hCJaJhCJaJ" @AQR 0]^`gd .gd p^p`gd .gd-gd .@&gd . 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