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Syllabus, Econ 32250

Money Banking and Financial Markets


Instructors Name: Radhika Jha
Class Location: S-276
Class Hours: Mondays and Wednesdays 6:30PM - 7:45PM
Email: rjha@ccny.cuny.edu

Course Description

Econ 32250 provides a rigorous introduction to the fundamentals of money, banking and the financial
markets. The course not only describes the origin and nature of money, but also evaluates the
institutions and financial markets involved in exchange of money and other financial innovations. It
provides an understanding of how the private and public sector interact to achieve sustainable growth.
The contents of the course gives an insight into the important players in the financial system like the
Federal Reserve, the banking sector, government sector, private corporate sector and the international
entities.

The course is lecture based. Lectures will consist of covering the theory, problem solving, examples and
class discussion. Exams and project will focus on applying the material from lectures.

Text Book:

Required: Mishkin, The Economics of Money, Banking, and Financial Markets,10th Edition

Recommended: Wall Street Journal

Financial Calculator:
Recommended: Texas Instruments- BA II plus or plus professional.

Learning Outcomes:

Upon successful completion of this course, students will be familiarized with the basic concepts of
money supply, the banking structure and regulation and the Federal Reserve System. The course will
introduce the students to the goals and implementation of the monetary and fiscal policy. Further, the
students will learn the calculation of interest rates and pricing risky financial assets. The course will also
familiarize the students with international finance and the exchange rates.

Course Requirements:

You should have a working knowledge of basic algebra and statistics and feel comfortable doing
quantitative exercises. Because this course involves number crunching, you should be familiar with
some sort of spread sheet software, e.g. Microsoft excel. Some knowledge of accounting, micro and
macro economics will be helpful.
Grading:

Grades will be based on the following:

Attendance and class participation 10%


Group Project 20%
Midterm examination 35%
Final examination 35%

Examination missed by an unexcused absence will result in a zero for that e xam. Absences must be
approved before the exams. Make up examination is allowed only for medical or other valid
reasons. There will be two examinations- midterm and finals. No cheat sheet is allowed in exams.
However a formula sheet will be provided to the students. The exams are closed book and use of
internet, phone or other electronics are not allowed in the exams. There will be a group project due
towards the end of the semester. The details about the project will be announced before the
midterm and the project report along with the 10-15 minutes presentation will be in the 12th or 13th
week of the semester.

Black Board Access:

CCNY email accounts : for communications from the University, College, and course instructor.

All course materials are available at blackboard @

https://cunyportal.cuny.edu/cpr/authenticate/portal_login.jsp

You are expected to check the blackboard for course materials and exams information after
each class session.

Policy on Attendance, Absences and Lateness

Students are expected to attend every class session of each course in which they are enrol led and to
be on time. An instructor has the right to drop a student from a course for excessive absence.
Students are advised to determine the instructors policy at the first class session. They should note
that an instructor may treat lateness as equivalent to absence. No distinction is made between
excused and unexcused absences. Each instructor retains the right to establish his or her own policy.
But students should be guided by the following general college policy:

In courses designated as clinical, performance, laboratory or field work courses, the limit on
absences is establish by the individual instructor. For all other courses, the number of hours absence
may not exceed twice number of contact hours the course meets per week, which means:

When a student is dropped for excessive absence, the registrar will enter the grade of Wu.
However note New York State Education Law, Article 5: S 224-a. Students unable because of
religious belief to register or attend classes on certain days and Special Provisions for students in
the Military

Academic Integrity:

The CCNY faculty service recommended that every course syllabus include this notice:

CUNY Policy on Academic Integrity

As stated in the CUNY Policy on Academic Integrity: Plagiarism is the act of presenting another
persons ideas, research or writings as your own. The following are some examples of plagiarism:

Copying another persons actual words without the use of quotation marks and footnotes
attributing the words to their source;
Presenting another persons ideas or theories in your own words without acknowledging the
source using ;
Using information that is not common knowledge with acknowledging the source;
Failing to acknowledge collaborators on laboratory and homework assignments.
Internet Plagiarism includes submitting downloaded term papers or parts of term papers,
paraphrasing or copying information from the internet without citing the source, and
cutting & pasting from various sources without proper attribution.
A student who plagiarizes may incur academic and disciplinary penalties, including failing
grades, suspensions, and expulsion.
A complete copy of the CUNY Policy on Academic Integrity may be downloaded from the
colleges home page.

Accommodations for Students with Disabilities:

The Office of Student Disability Services (SDS) is dedicated to providing students with
disabilities equal access to the college curriculum. The Office ensures that, upon request,
qualified students with disabilities are provided reasonable and effective accommodations,
as mandated by law, as well as appropriate support services.

Students who contact SDS and indicate that they have a disability or believe that they might
qualify for services will be asked to make an appointment for an intake interview with SDS
staff. To qualify for services, students must register with SDS by providing appropriate
documentation from a qualified professional describing the nature of their disability ad
functional limitations. Although academic adjustments are mandated by law, the College is
not required to alter demonstrably essential academic requirements of a course of study
nor is the College mandated to lower or effect substantial modifications of reasonable
academic standards.

Early planning is essential for many of the resources, adjustments and accommodations; students are
asked to contact SDS at the earliest possible date ( NA 1/218, 212-650-5913 or 212- 650- 6910 for
TTY/TTD).
Course Outline :
The course will cover the topics below. Topics can be of different length. This outline is subject to
change.

Topic 1: Origin and Nature of Money


What is Money
Role of Money in the Economy
Kinds & characteristics of money
Evolution of the Payment system

Topic 2: Money Supply, Growth & Inflation


Measures of Money Supply
Money Supply Process & Creation of Money
Money, prices and inflationary pressures
Monetary Theory

Topic 3: Central Banking and Monetary Policy:


Origin of the Federal Reserve System
Structure and Organization of Federal Reserve
Conduct of Monetary Policy

Topic 4: Financial Instruments, Markets and Institutions:


Flow of funds
Financial Instruments
Role of Financial Intermediaries

Topic 5: Interest Rate Measurement and Behavior:


Understanding & Calculation of Interest Rates
The behavior of Interest Rates
Determinants of the Level of Interest Rate.

Topic 6: The Term & Risk Structure of Interest Rates:


Term Structure of Interest Rates
Risk Structure of Interest Rates

Topic 7: The structure and Performance of Securities Markets:


Nature and Function of Securities Markets
Theory of Rational Expectations
Efficient Market Hypothesis

Topic 8: The Pricing of Risky Financial Assets:

Uncertainty and Risk Aversion


Measuring Risk
Principles of Diversification
Topic 9: Regulation of Financial Markets & Institutions

Regulation of financial markets

Regulation of financial Intermediaries

Regulation of Non- depository Financial Intermediaries

Topic 10: International Finance and Foreign Exchange:


The Foreign Exchange Market
Determination of Foreign Exchange Rates
Fluctuations in Foreign exchange Rate

Topic 11: The nature of Financial Intermediation : (time permitting)


Depository Financial Institutions
Non- depository Financial Institutions