This course has two main objectives. One is to study the role played by banks in modern monetary economies and financial markets, including issues arising from bank regulation, the role of banks in financial intermediation, and the significance of bank behaviour in monetary policy. This includes analysis of monetary innovations through crypto-currencies such as "bit-coin", and the shadow banking systems that played a significant role in the Global Financial Crisis. The second objective is to study the operation of monetary policy generally, in large economies such as the USA, and in small open economies such as Australia.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

1. Understand several key models and concepts of monetary economics and banking theory
2. Understand simple articles concerned with monetary economics and banking theory
3. Apply to current events key models and concepts of monetary economics and banking theory
4. Appreciate the potential importance of monetary phenomenon in the economy

Research-Led Teaching

The course will cover the recent research in the area of monetary economics, money, and banking. Relevant recent papers will be provided in Wattle, often as suggested optional readings, if it is necessary. When feasible, the main findings of those papers will be discussed in the class. The lecturer in charge of this course has research interests in macroeconomics and has published several papers in the top international journals.

Examination Material or equipment

Please see Wattle

Required Resources

Frederic S. Mishkin, The Economics of Money, Banking, and Financial Markets, 11th or 12th edition (Pearson series in Economics). Hereafter, I will refer it as Mishkin. The copies of the book are available in the campus bookstore and the library. It can be also ordered from the publisher's website: https://www.pearson.com.au.

Staff Feedback

Students will be given feedback in the following forms in this course:

·        Written comments: I will provide comments on HW Assignments, tutorial short exam papers, and the mid-semester exam papers.

·        Verbal comments will provided during consultation hours.

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Other Information

Course Delivery

This course consists of one lecture (two hours) and one tutorial (one hour) per week (see the timetable for details on dates, times, and locations). Tutorial meetings start in week 2 (see tutorial registration details below).

Lectures: It is expected that students attend lectures whenever possible and come prepared to them. The handouts will be uploaded to WATTLE at least one day before the lectures.

Tutorials: It is expected that students prepare for tutorial in advance and come ready to answer questions about the problems assigned for each week’s tutorial.

Extensions and Penalties

No submission of assessment tasks without an extension after the due date will be permitted. If an assessment task is not submitted by the due date, a mark of 0 will be awarded.

Referencing Requirements

Please use Harvard style referencing: http://www.anu.edu.au/students/learning-  development/academic-integrity/style-guides

Scaling

Your final mark for the course will be based on the raw marks allocated for each of your assessment items. However, your final mark may not be the same number as produced by that formula, as marks may be scaled. Any scaling applied will preserve the rank order of raw marks (i.e. if your raw mark exceeds that of another student, then your scaled mark will exceed the scaled mark of that student), and may be either up or down.

Other Information

Building Access Hours

Both CBE and HW ARNDT are:

TEACHING PERIOD = Mon – Fri 07.45 to 21.15 and SAT, SUN and Public Holidays is not accessible by students.

Both CBE and HW ARNDT are:

NON TEACHING PERIOD = Mon – Fri 08.00 to 18.00 and SAT, SUN and Public Holidays is not accessible by students.

RSE has a Frequently Asked Questions page where you can find relevant policies and information on a broad range of topics, the onus is on the student to familiarise themselves with this page and the information available.  https://www.rse.anu.edu.au/students/students/frequently-asked-questions/

Support for Students

The University offers a number of support services for students. Information on these is available online from http://students.anu.edu.au/studentlife/

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Book: Frederic S. Mishkin, The Economics of Money, Banking, and Financial Markets, 11th or 12th edition. Hereafter, I will refer it as Mishkin. The reading schedule follows the 11th edition. Introduction Readings: Mishkin Chapters 1, 2,and 3.	Homework assignments, tutorial quizzes, and exams
2	Interest Rates Readings: ?Mishkin Chapters 4 and 5.	Homework assignments, tutorial quizzes, and exams
3	Interest Rates Readings: ? Mishkin Chapter 6	Homework assignments, tutorial quizzes, and exams
4	Stock Market Readings: ?Mishkin Chapter 7	Homework assignments, tutorial quizzes, and exams
5	Central Banks and Money Supply Readings: Mishkin Chapters 14 and 15	Homework assignments, tutorial quizzes, and exams
6	Monetary Policy Readings: Mishkin Chapters 16 and 17	Homework assignments, tutorial quizzes, and exams
7	International Finance and Monetary Policy Readings: Mishkin Chapters 18 and 19	Homework assignments, tutorial quizzes, and exams
8	The IS, MP, and AD Curves Readings: ? Mishkin Chapter 21, 22	Homework assignments, tutorial quizzes, and exams
9	AD and AS and Monetary Policy Theory Readings: ? Mishkin Chapter 23	Homework assignments, tutorial quizzes, and exams
10	Further Issues in Monetary Policy I Readings: Mishkin Chapters 24 and 25	Homework assignments, tutorial quizzes, and exams
11	Further Issues in Monetary Policy II Readings: Mishkin Chapters 26	Homework assignments, tutorial quizzes, and exams
12	Financial Crisis Readings: Mishkin Chapters 12 and 13	Homework assignments, tutorial quizzes, and exams
13	Examination period	Homework assignments, tutorial quizzes, and exams

Tutorial Registration

See wattle please.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Homework Assignment 1	6 %	22/03/2019	05/04/2019	1-8
Homework Assignment 2	6 %	17/05/2019	31/05/2019	1-8
Tutorial Short Quizzes	12 %	25/02/2019	31/05/2019	1-8
Mid Semester Exam	26 %	01/04/2019	26/04/2019	1-8
Final Exam	50 %	06/06/2019	22/06/2019	1-8

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information 
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website. Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, hard copies of all references included in the assessment item.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Participation

There are no marks allocated for attendance but participation in lectures and tutorials is encouraged. Please note that preparing for lectures and tutorials in advance will considerably enhance your performance in this course.

Assessment Task 1

Homework Assignment 1

Students need to answer various short-essay, data manipulation, or analytical questions individually. The assignment questions will be posted to Wattle at least a week before its due date. The assignment should be typed. The font size should be 12 and the line spacing should be 1.5 lines. The normal margin should be used. Please submit a PDF file version of your work.

Presentation requirements: No

Assessment Task 2

Homework Assignment 2

Students need to answer various short-essay, data manipulation, or analytical questions individually. The assignment questions will be posted to Wattle at least a week before its due date. The assignment should be typed. The font size should be 12 and the line spacing should be 1.5 lines. The normal margin should be used. Please submit a PDF file version of your work.

Presentation requirements: No

Assessment Task 3

Tutorial Short Quizzes

There will be 5 short quizzes in tutorials. Each tutorial quiz will take 20 minutes and be given towards the end of tutorials. Your best 4 scores will be counted. The quizzes will take place in Weeks 3, 5, 7, 9, and 11. These quizzes will try to measure your understanding the material during the semester and to give you a timely feedback. The quizzes are not comprehensive i.e. they will cover the previous two tutorials’ materials at most. The value of each quiz is 3%.

Assessment Task 4

Mid Semester Exam

This exam is optional and redeemable. It will be 2 hours long. The date and time of the exam will be determined by Timetabling and be announced on Wattle. Details regarding the exam will be provided on Wattle no later than Week 4.

Although the exam is optional and fully redeemable, deferred mid-semester exam will be offered to students (following application by the students that has been approved by EGAP) if they require.

Assessment Task 5

Final Exam

This exam is compulsory and not-redeemable. Exam covers all topics studied in week 1-12 (inclusive) and will be 3 hours long. More information will be provided on Wattle no later than Week 10.

Academic Integrity

Academic integrity is a core part of our culture as a community of scholars. At its heart, academic integrity is about behaving ethically. This means that all members of the community commit to honest and responsible scholarly practice and to upholding these values with respect and fairness. The Australian National University commits to embedding the values of academic integrity in our teaching and learning. We ensure that all members of our community understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with. The University has policies and procedures in place to promote academic integrity and manage academic misconduct. Visit the following Academic honesty & plagiarism website for more information about academic integrity and what the ANU considers academic misconduct. The ANU offers a number of services to assist students with their assignments, examinations, and other learning activities. The Academic Skills and Learning Centre offers a number of workshops and seminars that you may find useful for your studies.

Online Submission

You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) as submission must be through Turnitin.

Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, copies of all references included in the assessment item.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

No submission of assessment tasks without an extension after the due date will be permitted. If an assessment task is not submitted by the due date, a mark of 0 will be awarded.

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Returning Assignments

Comments to HW assignments will be provided through Wattle.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Resubmission of Assignments

Re-submission of assignments will not be allowed.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information.
In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes.

Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Diversity and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents undergraduate and ANU College students
• PARSA supports and represents postgraduate and research students