EC 303 Money, Credit and Banking
FA 2012 HO
Professor of Economics
Wednesday 10:00-12:00 and 2:00-6:00 pm
Aug 21-Dec 13
2:25 - 3:40 PM
EC141 and EC142
Mishkin, Economics of Money, Banking, and Financial Markets, 10th ed. ISBN: 0-978-013-277-0248. Textbooks can be purchased through the Parkville Bookstore
Textbooks can be purchased through the Parkville Bookstore
American Economic Association
This is now the official home of Bill Goffe's Resources for Economists page, as well as the Journal of Economic Literature and other resources.
Federal Reserve Economic Data
The Federal Reserve Bank of St. Louis offers a database of over 1000 U.S. economic time series.
WebEc - World Wide Web Resources in Economics
WebEc has a huge list of links to a wide variety of web-based economics resources.
EcEdWeb is an economics education web site for instructors teaching at all levels.
National Council on Economic Education
The NCEE offers many short lessons based on current events, ready for instant use in class.
Economics at About.com
This web site offers a guided tour of economics-related web sites, as well as regular columns and discussion forums.
Biz/ed Learning Materials for Economics
Biz/ed offers notes, presentations, and activities on a variety of economic topics.
Economic History Services
Contains a variety of sources for economics throughout history.
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 email@example.com or call 800-927-3024Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.
The purpose of this course is to educate, which requires two things to happen. The teacher must teach or facilitate learning and the student must learn the required materials. This requires feed back to the instructor on how the student is learning. This feedback occurs in written work and classroom discussion. It is preferred that students ask questions during class as they arise. Often, a student will approach the instructor after class with a question that brings up a very important point that should have been addressed during class but the class is out the door. This is especially true with perceived calculation errors on the part of the instructor, which were placed on the black (or white) board and are therefore in everyone’s notes. If there was an error, it will be corrected. If not, there was confusion not only on the part of the student asking the question, but also others in the class, who saw the same apparent error but didn’t ask about it. Obviously, this calls for additional clarification on the part of the instructor. No student will be belittled for asking a question or making a comment.
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 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: Grading employs the following schedule. A: 90% and up. B: 80-89%. C: 70-79%. D: 60-69%. F: below 60%. Completion of all homework and your willingness to take part in class discussion will be considered if you are within 2% of the cutoff for the next higher grade. Excessive absenteeism or doing poorly (relative to previous work) on the final exam will remove you from consideration for the 2% upgrade.
Test Information: Tests will have multiple choice, short answer, and problem sections. The problems will be similar to those presented in class and provided in the homework assignments. The final exam will be comprehensive.
Homework assignments are made in class. The primary purpose of homework is to prepare the student for examinations.
Wall Street Journal Project Progress Report. The student will turn in their partially completed report, which is in the format described below. At this point, the report will be in a binder that is labeled with the student’s name and the course number on the outside of the binder. It will have tabbed and labeled sections with one article and its summary per section for 50% of the required articles. The articles will be cut out and appropriately mounted. The 1250-word paper, which is part of the final project, should not be in the folder as it will not be graded at this time.
Wall Street Journal Final Project. Clip and collect a total of 8 Wall Street Journal articles in a loose-leaf notebook. This notebook will be organized into five sections
The first section in the folder will be a 1250 word detailed analysis of one article that relates to a major topic that is focused on in class. The paper must have a section that explicitly compares the article with material presented (or scheduled to be presented) in class. The student is expected to consider sections of the text that apply to the article. This may mean reading assigned text chapters in advance of the date they are assigned. The analysis may draw on other articles in your project but must be primarily based on one article. Do not put your written pages in plastic binders. The article, which is the subject of this paper, will immediately follow it. An electronic copy of the summaries and the final paper will be submitted to the instructor by email or USB pen drive.
The remainder of the binder will have four dividers each of which contain two articles that were published during the term. Since the detailed analysis article in the first section counts as one of the eight articles, place a sheet in the section concerned noting the missing article is used for the detailed analysis.
It is preferred that the newspaper heading not be trimmed from the article. For those articles that are below the fold or where it is otherwise impractical to include the heading with the article, the date and page number can be neatly printed near the top of the article.
These articles must be either taped or pasted onto 3-hole paper or Xeroxed onto it. In front of each article put a sheet of three-hole paper with a typewritten one or two-sentence summary of the article that follows. Do not put these description sheets in plastic binders.
Summary of Report Format
1. Send the email before you turn in your paper or turn in the USB pen with it. This electronic copy will have the summaries and you 1250 word paper.
2. The 3-hole punched binder will be in the following format:
a. The written text of the analysis is first in the binder. The required length is 1250 words. Microsoft Word has a word counter in its Tools menu. This paper is followed by the article on which paper is based, mounted on a separate sheet.
b. The first tabbed divider is for the Section on Financial Markets and Interest Rates. These articles are on something that affects an entire financial market or a major portion of it.
-First article summarized in a sentence or two. (Do not put summary in plastic binder)
First Article mounted appropriately with date and page number displayed.
-Second article summary followed by its article.
c. Tabbed divider for Section on Commercial Banking.
-Two article summaries each followed by article concerned.
d. Section on International Banking System.
-Two article summaries each followed by article summarized.
e. Section on S&L, Credit Unions, and non-bank financial institutions.
-Two article summaries with articles.
Oral Presentation: Give an oral presentation based on WSJ Project. Grading will include the student’s compliance with the following.
a. Oral presentations must be ready for the first scheduled presentation session.
b. Use a timepiece to ensure a presentation time of 5-6 minutes. Avoid excessive redundancy. The difference between repeating for emphasis and mindless redundancy is always obvious.
c. Make a PowerPoint presentation. Students may have another student assist them with the computer to change PowerPoint slides. The student making the presentation remains responsible for the entire presentation but such cooperation can make for a smoother presentation. Student must be prepared to present without their assistant, if necessary. (Absence of the assistant is not an acceptable excuse for delaying presentation.)
d. Use a large font and bold print on your PowerPoint slides. Use high contrast; black and white are ideal. If you use a color for the background make it the lightest choice available. A medium background color that looks good on your computer will often project must darker to the extent that the slide cannot be read. If you use a color for your print make it a very dark shade so it can be read.
e. Use appropriate notes such as 3 x 5 cards or sufficient slides to jog your memory and keep your presentation in sequence. Do NOT use a highlighted term paper instead of proper notes. Tell us about your research; do NOT read term paper.
f. Assume that your audience can read. Do not read slides to your audience and do not put entire discussion on your slides. Each item on the slide should be amplified in your discussion. Use the 3-5-7 rule for your slides. Not more than 3 main points per slide, not more than 5 lines of dense text per slide and not more than 7 words per line. This limits how much detail can be on any given slide. Be sure to put any comparisons of numbers on a slide. Verbal explanations of comparative data and/or numerical calculations without the written word to support them are a complete waste of your audience’s time.
g. Presenters must look at their audience! A shy presenter can add notes to their cards to remind them to look up occasionally. If a presenter cannot bother to look at their audience, why should the audience pay attention to the presenter? Under these conditions, why should the audience even remaining in the room?
h. Check your screen. What looks correct on the computer monitor may not be visible to your audience.
i. You are required to give your full attention to other student's presentations. Absence, tardiness, or inattention on the oral presentation days will diminish your oral report grade. Do not go over your notes and slides while other students are giving their presentations. Prepare before class not during it.
Term Project Progress Report
Term Project Oral Report
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.
Homework is collected at the beginning of the class on the day it is due. After that time, up to the point at which the solution is distributed, the maximum homework grade will be 50%. The homework solution is distributed when homework is returned. After this, late homework cannot earn more than 20% credit.
Tests. A student who misses an exam is allowed to make it up if his or her absence was excused before the test or is a genuine emergency. Makeup tests will substitute essay questions for the multiple choice and short answer portion of the original exam. The makeup will have a different problem section.
Term Project requirements. Projects turned in late or incomplete will have a penalty of 2 percent per day. The student must anticipate problems such as computers being unavailable, etc.
Classroom Rules of Conduct:
CELL PHONES and PAGERS. Turn off cell phones and pagers before class. Anyone, who has a vital need for such devices during class, must discuss this with instructor before class. In this situation, device must be in vibrate mode. The student must leave the room to take any message. Cell phone and Pagers will be put away for all in-class tests.
E-MAIL TO INSTRUCTOR: Always use the following subject line: EC303, First-Name, Last-Name, and (short) subject. If you leave a message by voice mail or any other means be sure to include this information.
Course Topic/Dates/Assignments: Tests and holidays are fixed per the schedule below. Class material will be presented in the order shown below but may deviate from the schedule if needed.
DATE Subjects Text Chapter
Aug 21-23 Introduction to Money 1, 3
Aug 28-30 Money Demand & ISLM 19, 20, 21
Sep 4-6 Money Supply 14, 15
Sep 11-13-18 Federal Reserve System 13
Sep 20 TEST ONE
Sep 25-27 FED and Monetary Policy 16
(Sep 27: WSJ Progress Report Due.)
Oct 2-4 The Foreign Exchange Market 17
Oct 9-11 International Finance 18
Oct 23-25 Interest Rates 4, 5, 6
Oct 30-Nov 1 Financial Institutions and Banking 10, 11, 12 (269-291)
Nov 6 TEST TWO
Nov 8-13 Nonbank Financial Institutions 12 (292-293)
Nov 15-20 S & L, sub-prime and other crises 11(pp. 271-276)
Nov 29 AD and AS analysis 22, 23, 24
Nov 4-6 Oral Reports
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 2011-2012 Undergraduate Catalog Page 95-96
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 2011-2012 Undergraduate Catalog Page 95
Attendance Policy:Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.
Park University 2011-2012 Undergraduate Catalog Page 98
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 .
Last Updated:8/6/2012 9:56:37 PM