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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

COURSE DESCRIPTION:
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.

INSTRUCTIONAL METHODOLOGY:
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

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

EVALUATION:
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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