Money and Banking Course: ECON 310-003 Fall 2013 by Edward Austin Middleton - Prof. Edward, Lecture notes of Banking and Finance

Information about a university course titled 'money and banking' (econ 313-003) offered in the fall of 2013 by edward austin middleton. The course covers the theory, history, and policy of money and banking institutions. Students are required to attend lectures, read assigned materials, and complete assignments, including reading responses, midterms, and a final exam. Prerequisites include principles of microeconomics and principles of macroeconomics. The document also outlines grading policies, office hours, and due dates for assignments.

Typology: Lecture notes

2012/2013

Uploaded on 12/22/2013

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Money and Banking
ECON 310-003 Fall 2013 Instructor: Edward Austin Middleton
Course Meeting Times
Tuesday/Thursday Enterprise Hall 174, 9:00 10:15 am
Office Hours:
Enterprise Hall, Workstation 342, Thursday 12:00 2:00 and by appointment.
Course Description
This course examines the theory, history, and policy of money and banking institutions.
We will be covering a lot of ground. Lectures will coordinate with the assigned reading,
but I will also amplify, modify, and supplement. Expressing your understanding of the
material in writing represents a significant portion of your work this semester.
Prerequisites
ECON 103 Principles of Microeconomics, ECON 104 Principles of Macroeconomics
Texts Most of the class material consists of papers which are available online. The following
books are available at the GMU bookstore:
Dean Croushore, M&B2
Leland Yeager, The Fluttering Veil
All other readings are available at Masons Blackboard website in the Course Content
section. [mymason.gmu.edu]
Grading
The weights for determining the final grade are as follows:
15% Reading Responses
22% Midterm Examination 1
28% Midterm Examination 2
35% Final
A Reading Response is a single typed paragraph to be written on your own due at the
beginning of class. In no more than 5 sentences, and in as few words as possible, tell me
why the reading is relevant; do not summarize. These will be graded on a -1 to 1 point
scale.
Coherent:
1
Not Turned In:
.3
Incoherent:
0
Wikipedia Copy/Paste:
-1
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pf4

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Money and Banking

ECON 310-003 – Fall 2013 Instructor: Edward Austin Middleton

[email protected]

Course Meeting Times

Tuesday/Thursday Enterprise Hall 174, 9:00 – 10:15 am

Office Hours:

Enterprise Hall, Workstation 342, Thursday 12:00 – 2:00 and by appointment.

Course Description

This course examines the theory, history, and policy of money and banking institutions.

We will be covering a lot of ground. Lectures will coordinate with the assigned reading,

but I will also amplify, modify, and supplement. Expressing your understanding of the

material in writing represents a significant portion of your work this semester.

Prerequisites

ECON 103 Principles of Microeconomics, ECON 104 Principles of Macroeconomics

Texts

Most of the class material consists of papers which are available online. The following

books are available at the GMU bookstore:

Dean Croushore, M&B^2

Leland Yeager, The Fluttering Veil

All other readings are available at Mason’s Blackboard website in the Course Content

section. [mymason.gmu.edu]

Grading

The weights for determining the final grade are as follows:

15% Reading Responses

22% Midterm Examination 1

28% Midterm Examination 2

35% Final

A Reading Response is a single typed paragraph to be written on your own due at the

beginning of class. In no more than 5 sentences, and in as few words as possible, tell me

why the reading is relevant; do not summarize. These will be graded on a -1 to 1 point

scale.

Coherent: 1

Not Turned In:.

Incoherent: 0

Wikipedia Copy/Paste: -

There will be two midterms and a final exam. Each midterm will cover only material in

that part of the course. The final will be cumulative, though weighted more towards the

unexamined material. The midterms and final are open book, open notes, but you may

not use any device with networking capability (such as laptops, tablets, or cell phones).

This class is primarily lecture format, but I encourage students to ask questions about the

lectures and readings. There is no formal grade for participation, but if you are one of the

students who (in my judgment) contributes most to class discussion, your grade will be

improved by one step (e.g. from a B‐ to a B).

Extra Credit

Extra Credit will be awarded in this class for a semester-long research project on the

money of an assigned country and time period. For this assignment to be accepted at the

end of the semester, the student must submit component parts of the final product on the

assigned days during the semester.

The topic is simple: tell me the story of this country’s money. Include what information

you feel is relevant.

Due Dates:

September 10: Part 1

A 1 page outline of the relevant people, legislation, banks, dates and otherwise

you will use in your further research.

October 1: Part 2

5 pages of rough draft paying particular attention to the relationship between

money, banks, and the central government.

October 24: Part 3

5 additional pages of rough draft paying particular attention to the relationship

between domestic and foreign money.

November 12: Part 4

15 pages of rough draft.

December 5: Part 5

15+ pages of final product !!!AND!!! a 2 page executive summary

If you submit each part by the deadline, I will read your executive summary, possibly

your entire paper. The grade you earn for your paper will replace your lowest exam score.

Yes, this does mean that missing an exam might not be catastrophic.

17 Hamilton - The Failure of the Ayr Bank Croushore - Chapter 8: How Banks Work 22 Friedman - The Role of Monetary Policy Croushore - Chapter 15: The Federal Reserve System 24 Yeager - The Costs, Sources, and Control of Inflation Croushore - Chapter 6: Real Interest Rates Extra Credit Part 3 Due 29 Yeager - Injection Effects and Monetary Intermediation Croushore - Chapter 9: Government's Role in Banking 31 MIDTERM 2 November 5 Horwitz - The Great Recession Croushore - Chapter 17: Monetary Policy, Goals and Tradeoffs 7 Sumner - Nominal GDP Targeting Croushore - Chapter 18: Rules for Monetary Policy 12 Garrison - Austrian Trade Cycle Lecture: http://www.youtube.com/watch?v=zhoFOyy7rbo Croushore - Chapter 10: Economic Growth and Business Cycles Extra Credit Part 4 Due (Tentative) Guest Lecture: Monetary Constitutions 14 Agenor - Benefits and Costs of Financial Integration Croushore - Chapter 14: Economic Interdependence 19 Fausten - Humean Origin of Contemporary Monetary Balance of Payments 21 Bordo - Gold Standard as "Good Housekeeping Seal of Approval" 26 Yeager - Can Monetary Disequilibrium be Eliminated? 28 Turkey, Football, Naps December 3 Odriscoll - Central Banks Reform or Abolish 5 Semester Review Extra Credit Part 5 Due 12 FINAL; 7:30 AM – 10:15 AM