ECON/FIN 303
MONEY AND BANKING

INTRODUCTION

Economics is the study of the allocation of scarce resources including land, labor, capital and entrepreneurial talent. It typically addresses how these allocation decisions are made by using a dual approach – macroeconomics vs. microeconomics. In macroeconomics, emphasis is placed on aggregates or the overall performance of an economy with fiscal and monetary policies designed to affect levels of employment, prices, and growth. Microeconomics, on the other hand, looks at individual consumer preference and decision-making as well as the individual firm’s analysis on how to secure profit maximization in a variety of markets.

Whether one is dealing with the aggregate economy or the individual preference schedule, the study of economics is dealing with uncertainty and how economies and individuals and firms address this phenomenon.

In Money and Banking, our study goes a step further. Today, no one would deny the importance of the money supply and banking system here at home in the United States or throughout the world in international economic realms. How to regulate and control the money supply, how to efficiently operate the Federal Reserve system, and how America’s monetary and banking systems impact the international arena and vice versa – all of this demonstrates beyond a doubt the importance of this more specialized aspect of economics and finance. However, keep in mind that money and banking is not just for national and international economic systems. We as individuals play vital roles each day in making economic decisions which affect the money supply and the Federal Reserve system. Even one of the most common (yet important) decisions made by individuals and families in the purchase of a home or a car reflects how significant money and banking is today in our complex economic world. In light of this, it should be apparent just how important money and banking is.

One caveat should be noted, however. Just as in economics, students must learn the language of money and banking. While these concepts and terms may sound unfamiliar at first glance, they are the key to understanding how America and the world’s monetary and financial systems operate. This course is your basic introduction to not only the language of money and banking, but also into its theoretical and practical underpinnings.

This course offers three (3) hours of academic credit.

MID-COURSE TEST AND FINAL EXAMINATION

The student will take a Mid-Course Test and Final Examination at a physical location in a college or university setting. Detailed instructions and Mid-Course Test and Final Examination applications are included in the online syllabus.

INSTRUCTOR

Dr. Michael Namorato, professor of history, received his Ph.D. from Michigan State University.

TEXTBOOKS

The Ole Miss Bookstore currently stocks the textbooks needed for Independent Study courses. Click here to order textbooks online. Select the term, department, and course number. Select “I Study” for the section number. To order by phone, call 662-915-7137 and be sure to indicate that you are ordering textbooks for an Independent Study course.

To apply for the course, go here.

If you need assistance or have additional questions please email us at indstudy@olemiss.edu.