SYLLABUS
Queens College/CUNY Department of Economics
Fall 2023
ECO 215: MONEY AND BANKING
Sunday Su 9:10AM – 12:11PM
Location: King Hall 202
INSTRUCTOR INFORMATION: Rui Sun, Email: rsun2@gradcenter.cuny.edu
Office hours: by appointment.
COURSE DESCRIPTION: This is a course in monetary theory and banking institutions for students who have already completed basic economics classes.
OBJECTIVES: Upon successful completion of this course, you can expect to:
● Understand basic theories professional economists use to explain how monetary conditions and policy affect the macroeconomy.
● Be familiar with the major financial institutions – public and private – which make up the “money market” and the “capital market” and how these institutions behave.
● Learn the basic principles and practices by which monetary policy is planned and executed.
● Comprehend monetary models, including the model of money supply, Baumol-Tobin Model, capital asset pricing model, etc.
● Learn the term structure of interest rate and yield curve type, and be familiar with the methods used to calculate YTM, present value, and cash flow.
ASSESSMENT: Assessment is based on three exams, 5 quizzes, and participation. The weights of these components are:
Midterm 1 | 20% | |
Midterm 2 | 25% | |
Final | 30% | |
Quiz | 20% | 5 in Total |
Participation | 5% |
- Exam and Quiz
- No make-up exams or quizzes.
- If, for any reason, a student did not attend the final exam, a student will receive an F.
- Quizzes will be held at the end of classes; see class outline.
- Quizzes test the knowledge learned from previous lectures, not including the content learned on each quiz day.
CUNY POLICY ON ACADEMIC INTEGRITY: Academic dishonesty is prohibited in the City University of New York and is punishable by penalties, including failing grades, suspension, and expulsion as provided at: qcpages.qc.cuny.edu/provost/policies/index.html.
- If after careful consideration, I have determined that you have cheated on an exam, you will receive a 0 point for that exam and you will be reported to the Deans of Students.
- Cheating includes, but is not limited to, talking to another student, a physical exchange with another student or a concerted effort to view another student’s exam or share your own.
TEXTBOOK: Mishkin, F.S. The Economics of Money, Banking and Financial Markets, Pearson 2019 12th edition.
Note the students are not required to hold a physical book for this class.
ADA STATEMENT: Students with disabilities needing academic accommodation should: (1) register with and provide documentation to the Special Services Office, Kiely 171; (2) bring a letter to the instructor indicating the need for accommodation and what type. This should be done during the first week of class. For more information about services available to Queens students contact: Special Services Office; 171 Kiely Hall; 718-997-5870 (8:00 a.m. to 5:00 p.m.); e-mail address: QC.SPSV@qc.cuny.edu .
ABSENCE FROM MIDTERM: A student who does not attend the midterm may be excused from the examination provided he/she can document an adequate reason for the absence. No “makeup” midterm examinations will be given. If a student is excused from the midterm examination, the student’s course grade will be based on other work where the weight on other work will be slightly increased to compensate for the lack of a midterm grade.
ABSENCE FROM FINAL EXAM: A student who does not attend the final exam will not be excused from the examination for any reason, and a student will receive an F. If you have a conflict with the final exam, please drop this class now. Students who have a conflict can reenroll in future semesters.
ABSENCE FROM A CLASS: Class attendance is a student responsibility and is expected of all Queens undergraduate students. If you miss a class and notify the instructor through email without any official proof showing the reasons, it will be marked as an absence. The instructor considers three absences per semester as normal, and the students will not be penalized.
PROOF OF ABSENCE: A student who is absent from a class, or a midterm, should acknowledge that proof is critical in this process. With sufficient proof (approved documented excuse), a student will be excused.
USE OF ARTIFICIAL INTELLIGENCE STATEMENT: The use of artificial intelligence (AI) is strictly prohibited in all coursework and assignments. This includes, but is not limited to, the use of AI-generated text, speech, or images, as well as the use of AI tools or software to complete any portion of a project or assignment. Any violations of this policy will result in disciplinary action, up to and including a failing grade for the assignment or course. Our goal is to encourage critical thinking and creativity, and the use of AI detracts from this objective. Students are expected to use their own knowledge, research and analysis to complete coursework.
FINAL LETTER GRADE: The table below provides the grading scale that will be used to determine your final letter grade. This is the official Queens College scale.
Grade | 100 | 92.90 | 89.9 | 87.0 | 82.9 | 79.9 | 77.0 | 72.9 | 69.9 | 67.0 | 59.9 |
Scale | – 93.0 | – 90.0 | – 87.1 | – 83.0 | – 80.0 | – 77.1 | – 73.0 | – 70.0 | – 67.1 | – 60.0 | – less |
Letter | A+ or A | A- | B + | B | B – | C + | C | C – | D + | D | F |
CLASS OUTLINE AND READING LIST*
Date | Class No. | Topics | Chapters | In Class Quiz | |
8/27 | 1 | Introduction, Financial System | 1 and Appendix, 2 | ||
09/03 | 2 | What is Money, money supply and demand | 3,14 | ||
09/10 | 3 | Monetary Theory | 19,4,5 | Quiz 1 | |
09/17 | No Class Scheduled | ||||
09/24 | No Class Scheduled | ||||
10/01 | 4 | Interest Rates | 6 | ||
10/08 | Midterm 1 | ||||
10/15 | 6 | Derivatives in Economics | added | ||
10/22 | 7 | Stock Market, Rational Expectations | 7 | Quiz 2 | |
10/29 | 8 | Market Efficient Hypothesis | 7 | Quiz 3 | |
11/05 | 9 | Puzzles and problems in financial market | 8 | ||
11/12 | Midterm 2 | ||||
11/19 | 11 | Banks, Federal Reserve System | 9,13 | Quiz 4 | |
11/26 | No Class Scheduled | ||||
12/03 | 12 | Lemon’s Problem, Market Equilibrium | 8 | Quiz 5 | |
12/10 | 13 | Adverse Selection | 11 | ||
12/17 | Final | ||||
*this is a tentative schedule and subject to change due to unforeseen circumstances. The instructor will notify of any changes.