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MONEY & BANKING

Module code: EC211
Credits: 5
Semester: 2
Department: ECONOMICS
International:
Coordinator: Dr Simon Broome (ECONOMICS)

	Overview
	In this module we (i) examine the banking and financial markets and institutions through a European lens, (ii) examine the role of credit and credit granting institutions, such as banks and other financial institutions, taking note of how banking and other financial institutions provide benefits and impose costs on the economy; (iii) inquire into the regulation of banking and other financial institutions taking note of regulatory successes and failures; (iv) consider the role of central banks, especially the ECB, in creating macroeconomic stability and promoting economic growth.

Overview

In this module we (i) examine the banking and financial markets and institutions through a European lens, (ii) examine the role of credit and credit granting institutions, such as banks and other financial institutions, taking note of how banking and other financial institutions provide benefits and impose costs on the economy; (iii) inquire into the regulation of banking and other financial institutions taking note of regulatory successes and failures; (iv) consider the role of central banks, especially the ECB, in creating macroeconomic stability and promoting economic growth.

	Learning Outcomes
	On successful completion of the module, students should be able to: Understand the role of banks and other financial institutions, financial markets, and systems in Europe and the world. Understand (i) the process of banking and financial regulation in the European Union, (ii) the evolution of banking and financial regulation both pre- and post-financial crisis, and (iii) the challenges of designing regulations for the euro area and the EU as a whole. Develop a theoretical and practical knowledge of monetary policy from the perspective of the ECB. Analyze the causes and consequences of financial and other crises on the European banking and financial systems. Critically evaluate financial micro- and macroprudential regulatory policy and competition policy and the effects of these policies on the economy as a whole, the financial sector, individual financial institutions, especially banks, and purchasers of financial services. Understand the costs and benefits of financial innovation and be able to analyze whether financial innovations benefit society. Describe the different players in the financial sector and explain how the services they offer fulfill the six functions of the financial system, of which banks are only one element.

Learning Outcomes

Teaching & Learning methods

Assessment

	Autumn Supplementals/Resits
	Are supplemental/resit registrations permitted? Yes One and half hours. Any continuous assessment mark to be carried forward University scheduled written examination (Autumn): 90 minutes, On-campus

	Pre-Requisites
	EC101, Principles of Microeconomics, and EC103, Principles of Macroeconomics OR FN106 (Introduction to Finance: Markets, Money & Investment)

	Additional Reading
	Fin Financial Markets and Institutions: A European Perspective, 4th Edition, by Jakob de Haan, Dirk Schoenmaker and Peter Wierts. Cambridge University Press. This is available both in hard copy and as an eBook. Also, to stay abreast of economic news, plan to read The Financial Times or The Economist regularly.

Timetable

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Courses / Module

MONEY & BANKING

Semester 1

Semester 2