Econ 3200   Money and Banking

 

Professor C. James Hueng

 

Class Website:              http://homepages.wmich.edu/~chueng/EC320.htm

Office:                          5412 Friedmann Hall.    Phone:  387-5558

Email:                          James.Hueng@wmich.edu

Office Hours:                By appointments.

 

Prerequisite:

ECON 201 and ECON202.

 

Course Description:

An analysis of the role of money and its impact on the economy-on inflation, unemployment, interest rates, income, and foreign exchange. The operations and relationships of commercial banks and the Federal Reserve are examined.

 

Objectives:

This course seeks to develop conceptual tools that economists use to analyze financial markets and monetary policies.  By the end of the course you should have a clear understanding of: the determination of interest rates; interactions between different financial institutions; and the role of money and the Federal Reserve Banks in the U.S. financial system.

 

Textbook:

The Economics of Money, Banking, and Financial Markets, Frederic S. Mishkin, 3rd Business Edition (ISBN#9780132741378). 

 

Exams:

There are two midterm exams and a final exam.  Take this course only if you can take all three exams as scheduled.  The exams cannot be taken earlier or later.  A grade of zero will be given to any missed exam.  There is no make-up exam for the midterms.

 

Schedule for the Exams:

 

EXAM

TIME

MATERIALS

Midterm #1

In class, Monday, July 16

Chapters 2, 8, 4, 7

Midterm #2

In class, Wednesday, August 1

Chapters 5, 6, 20

Final Exam

In class, Wednesday, August 15

Chapters 2, 4-8, 10, 14, 17, 18, 20

 

For students who miss a midterm exam but have a reasonable excuse supported by legitimate documentation, the score from the final exam will be counted twice.  For example, if a student misses a midterm, makes a 70 in the other midterm, and makes a 60 in the final exam, her two midterm scores will be 60 and 70.  If a student misses both midterms and makes a 60 in the final exam, her two midterm scores will be 0 and 60.

Students who miss the final exam and have a reasonable excuse supported by legitimate documentation will receive an “incomplete” grade and be scheduled for a make-up final exam.  A proposal for taking the make-up final exam should be approved by the instructor by 5:00PM August 17, 2012.

 

Students with disabilities are encouraged to register with the Office of Disabled Student Resource and Services, 387-2116.  Thereafter, you are invited to schedule appointments to see me during my office hours to discuss accommodations and other special needs.

 

Attendance Policy:

Students are required to attend the lectures.  Attendance will be taken in class.  Students who miss the class will not receive handouts or announcements made in class after the class. 

 

Quizzes:

There will be at least six open-book quizzes given in classes during the semester.  Any quiz will only be available once in class.  A score of zero will be given to any missed quiz.  There is no make-up quiz for any reason.

 

Grading:

 

Weights:           The six highest scores from the quizzes:                                    30%

                        The higher midterm score:                                                         25%

                        The lower midterm score:                                                          15%

                        Final exam score:                                                                      30%

 

Bonus:  Let x be the sum of the two lowest quiz scores and n be the number of non-zero scores of these two quizzes.  The bonus point is n*ln(1+x), where ln is the natural log operator on a calculator.  For example, if your two lowest quiz scores are 0.5 and 4, then 2*ln(1+4.5) = 2*1.704 = 3.41 will be added to your final score.  No other extra credit in any form is available.

 

After the final weighted-average score plus the bonus point is calculated, the 100-point scale score (which will not be curved in any way) will be transformed into the University grading system at the end of the term in the following way:

90 and above:               A                     85-89.99:                      BA       80-84.99:            B

75-79.99:                      CB                   65-74.99:                      C          60-64.99:            DC

50-59.99:                      D                     49.99 and below:          E         

 

 

The University Academic Honesty Policy: Academic Integrity:

You are responsible for making yourself aware of and understanding the policies and procedures in the Undergraduate and Graduate Catalogs that pertain to Academic Honesty. These policies include cheating, fabrication, falsification and forgery, multiple submission, plagiarism, complicity and computer misuse. [The policies can be found at http://catalog.wmich.edu under Academic Policies, Student Rights and Responsibilities.] If there is reason to believe you have been involved in academic dishonesty, you will be referred to the Office of Student Conduct. You will be given the opportunity to review the charge(s). If you believe you are not responsible, you will have the opportunity for a hearing. You should consult with your instructor if you are uncertain about an issue of academic honesty prior to the submission of an assignment or test.