EC 303 Money, Credit and Banking
F2T 2006 DL
Ph.D., EconomicsM.S., EconomicsB.A., Economics with a minor in mathematics
October 23, 2006 to December 17, 2006
Prerequisites, EC 141 and EC 142 or permission of the instructor.
Required Text: The Economics of Money Banking and Financial Markets Author: Frederic S. Mishkin Pearson/Addison-Wesley, 7th Ed
Wall Street Journal: The WSJ is an excellent reference for this course. It is available at most libraries, in many offices, and other places. While not required for this course, it will enhance your understanding immeasurably in the understanding the contemporary issues in money and banking.
Textbooks can be purchased through the MBS bookstore
Textbooks can be purchased through the Parkville Bookstore
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Educational Philosophy: Teaching economics seems like an easy task for those with a terminal degree in the discipline, but when students often hear they need to take an economics course(s), often a chill goes down their spine and fear sets in. All of us experience economics everyday whether we realize it or not. An appealing way to attract students to economics is to incorporate current events and popular news articles. Headlines which mention the unemployment rate, the release of the GDP growth rates, the increase in poverty rates in 2003, the size of trade deficit has reached its highest level, and other headlines. These current events provide great classroom discussion to enhance the abstract concepts presented in the textbooks and lectures. Once the discussion of these current events commences, the students realize that the economic principles and theories makes more sense than it does from reading the required readings. Despite the incorporation of current events into the course discussion, the students still need to master the underlying economic theory and principles. The presentation of these concepts requires the presentation to be as simple as possible. That is, the principle of KISS (Keep it Simple, Silly) should be applied in the lectures. The focus is not to water-down the material but to improve the level of comprehension of the students with the material. The goal of the KISS principle is to allow all students in the course to learn the material, not just teach the superior students. If a student is enrolled in a course, it is the job of the professor to teach all students enrolled in the course. Of course, it is too much to expect that all or even a majority of students will absorb the most material adequately through reading and a single lecture alone. Consequently, the professor needs to provide avenues for students to receive clarification of the course material via office hours and responding to emails. Also it should be strongly encouraged that students use office hours as a means to receive additional clarification of the course material. Also the instructor should accommodate students who cannot come to formal office hours by making an appointment. By providing such accommodation gives the student a feeling that the instructor is there and has concern for the academic well-being of the student. Additionally, it also gives the student more self-confidence and greater motivation to put the required effort into the course. In a classroom, the learning process should be collaborative between the students and the professor. However, this collaborative relationship can only occur if the professor treats the students as equals. In order to promote an active dialogue in a classroom, the students need to be able to speak and not fear repercussions for misspeaking on a point. Instead the professor should point out positive points from their response and guide the student to the correct answer. Following this approach should avoid any embarrassment of the student or making them feel dumb. If this should occur, I would shift that burden to me and make myself look embarrassed. Then, I just move on. Enjoy the course!!
Learning Outcomes: Core Learning Outcomes
All Park University courses must include a core
assessment that measures the course Learning Outcomes. The purpose of this assessment is to
determine if expectations have been met concerning mastery of learning outcomes
across all instructional modalities. For
this course, the core assessment is a final exam to be administered in all
sections of EC 303. This is NOT AN
OPEN-BOOK EXAM and is worth 20 percent
of the student's final grade and will test
students' mastery of nine core learning outcomes (Learning Outcomes 1-7 listed
on the syllabus) through problem solving, short essay, and graphing
questions. For each core learning
outcome, the student should be prepared to draw the relevant graph, define
basic concepts or policies, identify relevant shifts in the curves, and state
final impacts on relevant variables.
Each student is responsible for completing:
Weekly reading assignments (weekly lectures are posted under DOC SHARING)
Weekly written homework based on the assigned readings
Weekly conference participation (replies to DQs already answered by other students)
A term paper related to monetary economics (see a list of potential topics under DOC SHARING)
A midterm examination
Proctored comprehensive final exam
Evaluation Methods: the evaluation methods will be based on the following assignments and the percentage are given as follows:
Weekly Discussion Questions: 24 %
Conference Participation: 18 %
Midterm Examination: 19 %
Final Examination: 19 % [the final examination is proctored]
Term Paper: 19%
Total for Course 100%
Point Distribution for the Course Assessments
Weekly Homework Discussion Questions 128 pts
Conference Participation 96 pts
Mid-Term Exam 100 pts
Term Paper 100 pts
Proctored Comprehensive Final Exam 100 pts ___________
Total Points Possible 524 pts
The following percentages will be used to assign course grades:
NOTE 1: THE COMPREHENSIVE FINAL EXAM MUST BE PASSED WITH A GRADE OF AT LEAST 60% REGARDLESS OF THE COURSE AVERAGE OF THE STUDENT. THE COMPREHENSIVE FINAL IS A PROCTORED EXAMINATION WHICH IS CLOSED BOOK AND CLOSED NOTES.
NOTE 2: STUDENTS WITHIN ONE HOUR OF A PARK SITE SHOULD TAKE THE FINAL EXAMINATION AT THE PARK SITE.
Late Submission of Course Materials: Should a student miss or does not earn full class participation points for the week, s/he can still make up for that loss by increasing their participation in the following week. The 96 total points are 'flexible' meaning that they are spread over 8 weeks, indicating that more than 12 points can be earned in any week during the course duration until the student reaches the limit of 96 total points possible.
Classroom Rules of Conduct: Park University wishes to promote a positive, collegial atmosphere among students faculty and staff. The students should present his/her answers in a civial manner and respond to others in a civil manner. Disruptive students will not be tolerated and will be dealt with. Disruptive behavior may have sanctions ranging from a private email warning to reporting to the Academic Dean.
The assignments for each week are given as follows
Week 1 Introduction
Homework Questions and Participation
Week 2 Meaning of Money, its historical perspective/evolution and its functions
Week 3 Four Major Players in Monetary System and Introduction to the FED
Week 4 Determinants of Money Supply and Money Multiplier
Week 5 Tools of Monetary Policy
Week 6 Monetary and Fiscal Policy and IS LM Model
Week 7 Transmission of Monetary Policy
Week 8 International Perspective
Participation Final Examination (Proctored)
Academic Honesty:Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life. Park University 2006-2007 Undergraduate Catalog Page 87-89Academic honesty is highly valued at Park University. A student must always submit work that represents his or her original words or ideas. If any words or ideas are used that do not represent the student's original words or ideas, the student must cite all relevant sources. The student should also make clear the extent to which such sources were used. Words or ideas that require citations include, but are not limited to, all hardcopy or electronic publications, whether copyrighted or not, and all verbal or visual communication when the content of such communication clearly originates from an identifiable source. At Park University, all submissions to any public meeting or private mailbox fall within the scope of words and ideas that require citations if used by someone other than the original author.
Academic dishonesty in an online learning environment could involve:
• Having a tutor or friend complete a portion of your assignments
• Having a reviewer make extensive revisions to an assignment
• Copying work submitted by another student to a public class meeting
• Using information from online information services without proper citation
Plagiarism:Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. Park University 2006-2007 Undergraduate Catalog Page 87
Attendance Policy:Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.
Park University 2006-2007 Undergraduate Catalog Page 89-90
Disability Guidelines:Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .
Confidentiality and Proprietary Information
One of t
It is the University's policy that students and faculty members must not share present or past employer information that would be considered proprietary, confidential, company-sensitive, or protected trade secrets. Students are encouraged to examine their organization's limitations on sharing information externally.
Students and faculty members may appropriately choose to illustrate lessons from their experience that might challenge these boundaries without identifying specific employers or individuals by name.
If you have any questions about any of the information contained in this syllabus, or about any other aspect of this course, please do not hesitate to ask!
Last Updated:10/16/2006 5:11:09 PM