It follows closely the textbook by Frederic S. Mishkin. The Economics of Money,
Banking, and Financial Markets. Assessment: The assessment is based on class
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Paul Pichler UK 040993 SS2010
Course Outline
Money and Banking Time and place: Fridays, 10.00-11.30, lecture room 26, main building. ECTS: 4.0 Starting date: March 5, 2010 Course website: http://homepage.univie.ac.at/paul.pichler/moneybanking Prerequisites: none Language: English Registration: Online (via Univis) Course Description: The course will introduce the student to the economics of money, banking, and financial markets. It follows closely the textbook by Frederic S. Mishkin The Economics of Money, Banking, and Financial Markets. Assessment: The assessment is based on class participation (30% of the grade), one take-home assignment (30% of the grade), and a final exam (40% of the grade). Class participation is measured by the best performance on 3 out of 5 short surprise quizzes. Such quizzes will be given on a regular basis in the beginning of the lecture, without prior announcement, and will take roughly 15 minutes. The take-home assignment will be in the form of a short essay. The final exam will be either written or oral, depending on the number of students participating. Reading: Frederic S. Mishkin, The Economics of Money, Banking, and Financial Markets, Business School Edition, Global Edition, Second Edition (2009). PEARSON. Syllabus: see page 2 1
Syllabus: The following chapters will be covered, if time permits: 1. Why Study Money, Banking, and Financial Markets? 2. An Overview of the Financial System 3. What Is Money? 4. Interest Rates 5. The Behavior of Interest Rates 6. The Risk and Term Structure of Interest Rates 7. The Stock Market, the Theory of Rational Expectations, and the Efficient Markets Hypothesis 8. An Economic Analysis of Financial Structure 9. Financial Crises and the Subprime Meltdown 16. Central Banks and the Federal Reserve System 17. The Money Supply Process 18. Tools of Monetary Policy 19. The Conduct of Monetary Policy: Strategy and Tactics 20. Aggregate Demand and Supply Analysis 24. Transmission Mechanisms of Monetary Policy: The Evidence 25. Money and Inflation
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