ECON 303 Money and Banking

ECON 303 IS Sec 2, University of Mississippi
[See UM Catalog for Description]

3 credit hours

Instructor Information:

Philip G. Cooker, Ph.D.

Instructor name:
James Carden, JD, MBA, MA, MHA, BA, CLU, ChFC, CFM, ABPA, CGBP, CMPE

Adjunct Professor/Instructor in the University of Mississippi School of Business and Department of Economics since 2001, James has taught Economics, Finance and Statistics He served as Director of the University of Mississippi Small Business Development Center (UMSBDC) from 2009 until 2018.

He received his Bachelor of Arts (BA) in Political Science, a Master’s in Business Administration (MBA) in Economics and Finance, a Master of Arts (MA) in Higher Education, and a Masters in Healthcare Administration from The University of Mississippi and earned a Juris Doctorate (JD) from the Mississippi College School of Law. His business experience includes working for the US Treasury as a National Bank Examiner, 7 years at Merrill Lynch, 5 years managing CPAs and attorneys for Prudential, VP of Organizational Development at Fortis, VP National Sales at General American's Paragon subsidiary, and ending as CEO of Blue Cross in Asia where he started three businesses before returning to OleMiss to teach.

His interests include teaching and sharing his business experience from entry to CEO level and including the startup and ownership of several small businesses in this country and internationally.

Contact Information:

If you have questions concerning the content of the course, you may contact the instructor directly using the Email Your Instructor link in the Lessons or Content page. NOTE: Whenever sending email, please be sure to indicate your course title and number in the subject line. You can expect a response within 72 hours, although it may be longer on weekends. Many instructors reply within 24 hours.

NOTE: Whenever sending email, please be sure to indicate your course title and number in the subject line. Blackboard email correspondence is preferred. You can expect a turnaround time of up to 72 hours to any email you send.

For lesson or test administration issues, please contact the iStudy department:

The University of Mississippi
Division of Outreach and Continuing Education
iStudy
P. O. Box 1848
University, MS 38677

Phone: (662) 915-7313, toll-free (877) 915-7313
Fax: (662) 915-8826
E-mail: istudy@olemiss.edu

Course Description

Economics 303/Finance 303 Money and Banking is an online examination of banks, money, and related financial institutions as well as an introduction to money and polities related to money. This is a 3 credit hour course. Principles of Microeconomics introduced us to how economic agents respond to changing incentives. In Principles of Macroeconomics, we learned about how collective interactions of all agents may aggregate and produce different economic outcomes. Specifically, we studied how GDP, inflation, unemployment, and other macroeconomic aggregates are measured. Analytical models of macroeconomic performance, growth in the long run, short-run fluctuations, fiscal and monetary policies were also developed in macroeconomics. Finally, principle of macroeconomics introduced us to international trade and finance and we are going to pursue these topics further in this course.

In this course, we shall study the influence of money and banking activities on the macro economy in some detail. Monetary and fiscal policies and their effect on banking will also be studied extensively in this course. Recent events in the United States and global financial market such the global financial crisis of 2007-2009 and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 will be covered extensively. New innovations in electronic payment system like bitcoin and the implication of a cashless society on the global financial markets will be examined. Finally, we shall learn about the policy options (for example, Quantitative Easing) available to the Federal Reserve when traditional monetary policy tools like Open Market Operations (OMO) are no longer effective (a problem known as a liquidity trap) due to a “zero lower bound on interest rates.”

Prerequisites: Econ 202/Econ 203

Department Policy for Majors: Department requires a C or higher grade for courses to count toward a major.

Textbook Information:

Textbook information will be provided upon enrollment in your iStudy course.

Course Objectives:

Upon completion of this course, you will be able to identify, define, describe, or discuss fundamental and current issues related to the following:

  • Be able to identify intermediate tools of economic analyses such as the IS/LM curve
  • Be familiar with important monetary economics concepts and terms
  • Learn financial terminology and concepts
  • Understand the United States financial markets and monetary institutions including the Fed, “to big to fail” commercial banks, and Credit Unions
  • Be exposed to intermediate macroeconomic models
  • Learn the history of monetary policy in the United States, including landmark financial legislations such as Dodd-Frank, Wall Street Reforms, the Consumer Protection Act of 2010, Sarbanes-Oxley Act of 2002, etc.
  • Understand elementary risk management and terminology such as moral hazard in the financial sector

Course Outline:

This course consists of 16 instructional modules (or lessons). Please note that the suggested Pacing Guide to complete the course in a traditional semester is written for Fall and Spring. Full summer students need to make adjustments due to the significantly shorter time period involved.

LESSON

Reading Assignments

Due for Grades

Syllabus

*You MUST complete the syllabus quiz as soon as you have access to your Blackboard course. This is mandatory to verify your attendance.* NOTE: you must pass the Syllabus and Orientation Quiz for the course materials to appear on the Lessons page.

Syllabus Quiz

0

 Introduction

Lesson quiz and essay questions

1

 Chapter 1: Why Study Money, Banking, and Financial Markets?

Lesson quiz and essay questions

2

 Chapter 2: An Overview of the Financial System

Lesson quiz and essay questions

3

Chapter 3: What is Money?

Lesson quiz and essay questions

4

 Chapter 4: The Meaning of Interest Rates

Lesson quiz and essay questions

5

Chapter 5: The Behavior of Interest Rates

Lesson quiz and essay questions

6

Chapter 6: The Risk and Term Structure of Interest Rates

Lesson quiz and essay questions

7

 Chapter 7: The Stock Market, the Theory of Rational Expectations, and the Efficient Market Hypothesis

Lesson quiz and Unit 1 Written assignment

Course Exam 1

Chapters 1-7

To be scheduled
and completed
before proceeding

8

 Chapter 9: Banking and the Management of Financial Institutions

Lesson quiz, assignment

MIDPOINT OF COURSE

If you are a semester student, you must reach the midpoint of your course by the date specified in your orientation information.
If you are a Flex UM student, you CANNOT WITHDRAW from this course after the lesson has been submitted.

All lesson assignments or exams needed to reach the midpoint of the course.
The exact date semester students are required to reach the midpoint is specified in your orientation information.

9

Chapter 10: Economic Analysis of Financial Regulation

Lesson quiz and essay questions

10

Chapter 11:Banking Industry: Structure and Competition

Lesson quiz and essay questions

11

Chapter 12: Financial Crises

Lesson quiz and essay questions

12

Chapter 13: Central Banks and the Federal Reserve System

Lesson quiz and Unit 2 Written assignment

Course Exam 2

Chapters 9-13

To be scheduled
and completed
before proceeding

13

 Chapter 15: Accounting for Long-Term Liabilities

Lesson quiz and essay questions

14

 Chapter 17: The Foreign Exchange Market

Lesson quiz and essay questions

15

  Chapter 22: Aggregate Demand and Supply Analysis

Lesson quiz and essay questions

16

 Chapter 23: Monetary Policy and Theory

Lesson quiz and Final Paper Written assignment

Final Exam

Comprehensive exam from all chapters (ensure all work is completed and graded prior to scheduling this exam)

To be scheduled
and completed
to finalize credit

Grading:

GRADING SCALE:

90 - 100% = A
80 - 89% = B
70 - 79% = C
60 - 69% = D
Below 59% = F

The grading format is as follows:
Lesson Homework (quizzes, unit 1 and 2 graphing assignments): 25%
Final Paper: 10%
Exam 1: 20%
Exam 2: 20%
Final Exam: 25%

FAILURE TO TAKE THE FINAL EXAM WILL RESULT IN FAILURE OF THE COURSE.
You must submit the lessons required to take the course exam(s). Lessons required but not submitted will receive a grade of zero. For the final exam, all coursework must be submitted and graded.