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EC 303 Money, Credit and Banking
Vinlove, F. Kathleen


Mission Statement: The mission of Park University, an entrepreneurial institution of learning, is to provide access to academic excellence, which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.

Vision Statement: Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.

Course

EC 303 Money, Credit and Banking

Semester

S2J 2011 PV

Faculty

Vinlove, F. Kathleen

Title

Associate Professor, Economics

Degrees/Certificates

Ph.D.

Office Location

Mackay 30.5

Office Hours

Monday and Wednesday 10:30 – 11:30; Thursday 11:00 – 4:00; or by appointment

Daytime Phone

816-584-6505

E-Mail

kathleen.vinlove@park.edu

Semester Dates

March to May, 2011

Class Days

Wednesday

Class Time

5:30 to 9:50 p.m.

Prerequisites

EC 141 and EC 142 or instructor's permission

Credit Hours

3


Textbook:

Mishkin, Frederic S. The Economics of Money, Banking, and Financial Markets, Ninth Edition. New York: Addison-Wesley Longman, 2010. (ISBN 978-0-321-599
 
OR You may order a used version of the Eighth Edition. However, there will be some differences in the chapter coverage.

Additional Resources:

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
Career Counseling - The Career Development Center (CDC) provides services for all stages of career development.  The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.
Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email helpdesk@park.edu or call 800-927-3024
Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.


Course Description:
A study of commercial banking, money markets, capital markets, monetary standards, foreign exchange; also, an analysis of the Federal Reserve System (central banking system) and its impact on the control of the money supply, and a survey of financial institutions. PREREQUISITES: EC 141 and EC 142 or permission of the instructor. 3:0:3

Educational Philosophy:

Because the learning process is active rather than passive, I will combine lectures with the Socratic method, and student questions are always encouraged.  The use of analytical tools and application to specific, real-world examples are emphasized.

Learning Outcomes:
  Core Learning Outcomes

  1. Discuss the money supply response to changes in key variables including the reserve ratio, the nonborrowed monetary base, the discount rate, the currency ratio, expected deposit outflows, and market interest rates.
  2. Compare the Classical and Neoclassical (Monetarist) views of money demand with the Keynesian view, focusing on the role of interest rates and the debate surrounding the velocity of money.
  3. Identify the tools, goals, and targets of monetary policy.
  4. Analyze the transmissions mechanisms of monetary policy.
  5. Assess how asymmetric information, adverse selection, and moral hazard relate to banking regulation in the U.S. and abroad.
  6. Identify the causes of Financial Institution's failures.
  7. Discuss in depth how monetary policy affects the exchange rate.


Core Assessment:

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 30 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.

Class Assessment:

 

Exams:                          There will be three exams: two class-period exams and a comprehensive final exam. The average of these three exams will constitute 65 percent of your final grade.

Each exam will be composed of multiple-choice, short essay, and diagramming questions based on my lectures, in-class exercises, and handouts. All exams are worth 100 points. I will curve each exam to give you an idea of your performance in terms of letter grades. However, final letter grades will be determined by a curve of final total averages for the class.

Late Arrivals to Exams: Students arriving late to an exam may take the exam only if no other student has turned in the exam. If another student has completed the exam, the late student cannot take the exam.

Students may not leave the classroom during an exam. Cell phones must be turned off and put away during exams; students who answer cell phones during an exam will be asked to turn in the exam. Seating for exams is assigned.

Make-up Exams:          No make-up exams will be administered for class-period exams. If a student misses either Exam 1 or 2, then the comprehensive final exam will count double. In other words, the student’s exam average will be based on three exams, but the final exam grade will be counted twice. Students who miss the final exam must take a comprehensive essay make-up exam.

 

In-class Exercises:      During the semester, FIVE in-class exercises will be administered. However, final grades are based on FOUR in-class exercises. Thus a student may miss one exercise without penalty. There are no make-ups for in-class exercises. To receive full credit for an in-class exercise, a student must be present on time (not more than 5 minutes late) for the exercise and complete all questions related to the exercise. They are worth 10 percent of the final grade and will be scored as follows:

Full credit                         25 points

Partial credit                    15 points

No credit                            0 points

Research:                     A presentation and topic paper graded on a 100-point scale will be worth 25 percent of the final grade. The paper is weighted as 75 percent of the research grade, and the presentation is weighted as 25 percent of the research grade. Topics are assigned. The paper must be handed in and the presentation given on the deadline date for full credit. A student who fails to turn in a research paper will receive a grade no higher than a “D.”

Grading:

    

Grading Plan:                        Final grades will be based on the following percentages:

Exams                                                                         65%

Topic paper and presentation                                     25%

In-class exercises                                                       10%

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business.

Late Submission of Course Materials:

 

Classroom Rules of Conduct:
The professor assumes that students are adults and will conduct themselves accordingly.

Course Topic/Dates/Assignments:

       

EC 303: Course Topics/Dates/Assignments, Spring 2 2011

 Week      Topic                                                                                                     Chapters

     1         Introduction     1, appendix, 3

               The Federal Reserve System                                                                    13

               Money Creation                                                                                          14

     2         Financial Crises                                                                                           9

               Economic Analysis of Banking Regulation                                                11                     

                The Money Supply                                                                                     14

     3         The Money Supply, continued                                                                   14

               FIRST HOUR EXAM: Wednesday, March 30

     4         Demand for Money                                                                                    19

     5         Aggregate Demand and Supply Analysis                                                  22

           Monetary Policy: Goals and Targets                                                         16

     6         Monetary Policy: Tools                                                                              15

               SECOND HOUR EXAM: Wednesday, April 20

     7         International Financial System                                                                   18

     8         Presentations and Topic Paper due

               COMPREHENSIVE FINAL EXAM: Wednesday, May 4

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 students and faculty members are encouraged to take advantage of the University resources available for learning about academic honesty (www.park.edu/current or http://www.park.edu/faculty/).from Park University 2010-2011 Undergraduate Catalog Page 92

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. from Park University 2010-2011 Undergraduate Catalog Page 92-93

Attendance Policy:
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

Park University 2010-2011 Undergraduate Catalog Page 95-96

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 .

Copyright:

This material is protected by copyright and can not be reused without author permission.

Last Updated:3/15/2011 1:43:07 PM