Money and Banking
| Module title | Money and Banking |
|---|---|
| Module code | BEE2037 |
| Academic year | 2023/4 |
| Credits | 15 |
| Module staff | Dr Martha Omolo (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 | 0 | 0 |
| Number students taking module (anticipated) | 280 |
|---|
Module description
This module undertakes a detailed analysis of various topics within the field of monetary economics, including the management of financial institutions and the economic analysis of financial regulation. The module also explores the main objectives of a Central Bank and investigates how Central Banks design and implement appropriate monetary policy strategies in line with meeting their primary objectives. The process of exchange rate determination is also examined using an asset based approach.
Module aims - intentions of the module
The aims of this module are to:
- Provide students with a solid understanding of various topics within the fields of Monetary Economics, Central Banking, and International Finance.
- Help students to understand contemporary issues within the above-mentioned areas and use this understanding to debate the appropriateness of various policy responses by the relevant authorities.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Assess the structure and management of financial institutions within the world economy
- 2. Explain the theories, tools and strategies available to monetary authorities, and how they can be used and applied when conducting monetary policy changes.
- 3. Explain how exchange rates can be determined using an asset based approach.
- 4. Compare the effects of macroeconomic policies under differing exchange rate systems.
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 5. Assess the appropriateness of policies aimed at various economic and financial market problems.
- 6. Develop the ability to collect informational resources including data and evaluate these resources to address financial market challenges.
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 7. Improve reasoning ability.
- 8. Demonstrate the ability to communicate effectively.
- 9. Apply collective problem-solving skills to a team challenge.
- 10. Apply teamwork skills to complete a group task.
Syllabus plan
Indicative content includes:
PART 1: MONEY
-
Money
-
An overview of cryptocurrencies
PART 2: FINANCIAL INSTITUTIONS, CENTRAL BANKING AND CONDUCT OF MONETARY POLICY
-
Banking and the Management of Financial Institutions
-
Central Banking
-
The Tools of Monetary Policy
-
The Conduct of Monetary Policy: Strategy and Tactics
-
Monetary Policy in Practice: Inflation Targeting
PART 3: FINANCIAL INNOVATION AND INCLUSIVITY
-
Mobile banking and money
-
What happens when financial innovation turns toxic?
PART 4 : INTERNATIONAL FINANCE AND MONETARY POLICY
-
The Foreign Exchange Market
-
Eurozone governance, sovereign risk and the banking system (Monetary Policy in an Open Economy under Fixed Exchange Rates)
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 31 | 119 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled learning and teaching activities | 22 | Lectures |
| Scheduled learning and teaching activities | 9 | Tutorials Weeks 3,4,5,7,8,9,10,11 and 12 |
| Guided Independent Study | 119 | Reading, preparation for classes and assessments. |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 40 | 60 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Average of homework tasks | 10 | 20 minutes | 1-8 | On ELE |
| Group Work | 30 | Group submission up to 2500 words plus an individual reflective piece up to 500 words per group member 1 hour | 2-10 | Final grade and online feedback on ELE |
| Final exam | 60 | 2 hours | 1-8 | Final grade; feedback and indicative solutions posted on ELE |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Average of homework tasks (10%) | Average of homework tasks (10%) | 1-8 | August examination period |
| Group work (30%) | Individual assignment up to 2500 words (30%) | 2-8 | August examination period |
| Final exam (60%) | Final exam (60%) (Two hours) | 1-8 | August examination period |
Re-assessment notes
Deferred or referred group work assessment changes to an individual assignment. Referred assessments are based on either the component or components of the original form of assessment referred.
Indicative learning resources - Basic reading
Prescribed Text:
- Mishkin, F.S. 2021. The Economics of Money, Banking, and Financial Markets, 13th Edition. Pearson Education Limited.
- Carlin, W. and Soskice, D. J. 2015, Macroeconomics: Institutions, Instability and Financial System. Oxford University Press: UK.
Other consulted texts:
- e-journals will be provided on the module’s ELE page.
- Financial Times and The Economists articles.
- Relevant websites and articles will be posted on the module’s ELE page.
Indicative learning resources - Web based and electronic resources
- There will be an active ELE page.
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | BEE1029 or (BEE1036 and BEE1037) |
| Module co-requisites | BEE2038 and BEE2039 or BEE2025 and BEE2026 |
| NQF level (module) | 5 |
| Available as distance learning? | Yes |
| Origin date | 15/03/2018 |
| Last revision date | 08/03/2023 |
