ECON30150 International Money and Banking

Academic Year 2022/2023

This module focuses on the role of the banking system in the economy and the roles played by central banks in the banking system and in implementing monetary policy. The module also examines the interaction between monetary policy and exchange rate regimes and takes a close look at European Monetary Union.

The module will have three parts.

1. Central Banks and the Banking System
How banks operate and why they are important; what central banks are and how they create money; the Federal Reserve and the ECB; how banking crises come about; policies to prevent and deal with crises; current issues in banking regulation and crisis prevention.

2. Monetary Policy
The relationship between money and inflation; how central banks control short-term interest rates; the term structure of interest rates; default risk and collateral; quantitative easing; the Phillips curve; central bank institutions; rules for setting interest rates.

3. Exchange Rate Regimes and the Euro
The trade-off between control of interest rates and exchange rates, optimal currency areas, European monetary union.

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Curricular information is subject to change

Learning Outcomes:

After this course you will know how the banking system operates and how it influences the economy. You will understand what monetary policy is and how it is implemented by the major international central banks. You will understand how financial crises occur and the policies used to prevent them and deal with them. You will be able to assess various proposals for changes in central bank policies and proposals relating to banking regulation. You will be able to understand debates about how central banks should respond to various macroeconomic and financial events and be a more sophisticated consumer of commentary on macroeconomic and financial issues.

Indicative Module Content:

Banks and Financial Intermediation

Banking Crises

Banking Regulation

Central Banks: The Fed and the ECB

Monetary Policy

European Monetary Union

Student Effort Hours: 
Student Effort Type Hours
Autonomous Student Learning

80

Lectures

22

Total

102

Approaches to Teaching and Learning:
The module is based around lectures given by the module co-ordinator. There is no set textbook. Instead, the principle teaching materials are a set of lecture notes provided by the module co-ordinator. This is supported by a wide variety of articles and readings of various sorts which give students the chance to dig deeply into each of the topics covered.

Lecture slides are made available in advance of live in-person classes. The plan is that these live classes will also be recorded and made available on Brightspace. There will also be some other pre-recorded content.

Students will keep up with the course material by taking a short weekly online multiple-choice test.

An in-person end of trimester examination is currently planned for this module. These arrangements are subject to COVID-19 public health advice and may change during the trimester. You should continue to review the module descriptor for updates. 
Requirements, Exclusions and Recommendations
Learning Recommendations:

ECON 20010 Intermediate Microeconomics & ECON 20020 Intermediate Macroeconomics


Module Requisites and Incompatibles
Not applicable to this module.
 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Continuous Assessment: Weekly online MCQ quiz. Throughout the Trimester n/a Alternative linear conversion grade scale 40% No

30

Examination: Final exam 2 hour End of Trimester Exam No Alternative linear conversion grade scale 40% No

70


Carry forward of passed components
Yes
 
Resit In Terminal Exam
Spring Yes - 2 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 
Feedback Strategy/Strategies

• Feedback individually to students, on an activity or draft prior to summative assessment
• Feedback individually to students, post-assessment

How will my Feedback be Delivered?

Students are entitled to request a meeting with the module co-ordinator to get feedback on their performance in tests or their written submissions. Online office hours will be held on a weekly basis during the term. Students can get feedback then or at other times by emailing the module co-ordinator.

Name Role
Prachi Srivastava Tutor
Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
 
Autumn
     
Lecture Offering 1 Week(s) - 1, 2, 3, 4, 5, 6, 7, 9, 10, 11, 12 Thurs 13:00 - 13:50
Lecture Offering 1 Week(s) - 1, 2, 3, 4, 5, 6, 7, 9, 10, 11, 12 Tues 11:00 - 11:50
Autumn