EC245NU: Money and Banking

Module code: EC245NU

Module provider: Economics; School of Philosophy, Politics and Economics

Credits: 20

Level: Level 2 (Intermediate)

When you'll be taught: Semester 2

Module convenor: Dr Christos Mavrodimitrakis, email: c.mavrodimitrakis@reading.ac.uk

NUIST module lead: Burak Sungu, email: baraksungu@gmail.com

Pre-requisite module(s):

Co-requisite module(s): IN THE SAME YEAR AS TAKING THIS MODULE YOU MUST TAKE EC201NU AND TAKE EC202NU (Compulsory)

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: No

Talis reading list: Yes

Last updated: 23 May 2024

Overview

Module aims and purpose

Money and banking builds on some of the concepts first introduced in intermediate macroeconomics. It is designed to provide you with a more in-depth understanding of the fundamental principles and analytic concepts related to how money and monetary policy affect the economy. In particular, by the end of this module students should have a clear understanding of both the banking system and the central bank - as well as the interrelationship between these institutions and monetary policy, interest rates, exchange rates, and inflation.

There are two module leads at NUIST: Burak Sungu and Satru Sinah.

Module learning outcomes

By the end of the module, it is expected that students will be able to:

1. Explain the functions of money and other financial assets. 
2. Identify the necessary parts in a fully functioning financial system 
3. Interpret the role of financial institutions and central banks. 
4. Understand monetary policy and its impact. 

Module content

Basic topics include: Understanding the basics of financial markets, financial asset, financial institutions, money and central banks; understanding banks and their roles in the financial system and with respect to monetary policy; understanding money; and understanding central banks and monetary policy. 

Additional topics may include: assets supply and demand, interest rate determination, stock and bond markets, exchange rates, the money creation process, the relationshipbetween money, inflation, and monetary policy, the regulation history and structure of the banking system, and basic theoretical models of banks and banking crises. 

Structure

Teaching and learning methods

Detailed guidance on the topics covered will be provided in the lectures, together with occasional handouts covering the material discussed, examples, exercises and solutions to facilitate understanding of key concepts. Students may be required to do exercises corresponding to each topic, to read a significant amount of journal articles, and to undertake research using the library, internet, etc. 

Study hours

At least 80 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 40% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Reassessment

Additional costs