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Course Description
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Economics 324: Money and Banking
The American Business School in Paris
Paris, France

Subject Area(s) Level(s) Instruction in Credits Contact Hours Prerequisites
Economics 300 English 3 45 ECO 110, ECO 120, ACC 110, 120, FIN 210, 220 or equivalents

In this course, the student will acquire an understanding of the basis for monetary systems and the role played by banks in the creation and circulation of money.  As this is a topic which is under constant evolution, current events in the financial world will be used to illustrate the various issues facing the banking industry in both a domestic and international context.  Topics will include disintermediation, the origins and functions of the Federal Reserve System, central bank and EC controls, money-laundering regulations and the role of the global banking industry in LDCs.

The course consists of class lectures and individual/group presentations on various assignments.

In class are covered:
- Introduction: History of money and the origin of banks
- Basic financial institutions, role of central banks
- Federal Reserve System
- Development of monetary theory; financial NGOs
- Payment Systems: Domestic and International
- Interest Rates; FX markets
- Deposits/Reserves; lending activities
- Reading a bank's financial statements
- Bank failures: causes and effects
- Financial markets: stocks, bonds, futures, options
- Use and misuse of derivative instruments

The Economics of Money, Banking, and Financial Markets, Mishkin, Pearson, 8th edition, 2008

The final grade will be made up of class participation (10%), individual/group cases and project (20%), a mid-term test (25%), and the final examination (45%).

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