(Malaysian Money Tree - Taken September 2006, Selangor Pewter Museum, KL, Malaysia)
Money and Banking
Description of the operations of banking and other financial institutions, examination of the basic tenets of monetary theory, analysis of monetary policy and its contribution to monetary policy.
By the end of this course, students will be able to:
1. Appreciate the origins and nature of money
2. Understand and apply basic concepts and models in monetary theory
3. Apply basic knowledge of financial markets and financial instruments and relate movements in these markets to current events
4. Identify and analyze the implications of information asymmetry in the financial sector
5. Understand the historical evolution of the banking and finance sectors in the United States and elsewhere
6. Understand the role of a central bank and how monetary policy is formulated in the United States and elsewhere
7. Understand the nature and means of monetary policy transmission to the economy
8. Appreciate the current debates surrounding monetary policy, the role and effectiveness of central banks, and its impact on the economic well-being of citizens
The objective of the course is to acquire knowledge and appreciation of the components and the issues involved in four basic areas: money, monetary theory, banking and finance, and the institutional dimension of money.
Relationship to other coursework:
This course is designed specifically for those students who have completed their principles of economics courses and are interested in learning more about money, the origins of money, the financial markets and institutions from both domestic and international viewpoints, as well as the impact of monetary policy on the environment in which consumers and business firms operate.
Professor Patrick Crowley