Syllabus for Fall 2011

Course: Economics 470/570 Monetary Theory and Policy
Professor: Mark Thoma
Office/Hours: PLC 471 on T/Th 11:30 a.m.-12:30 p.m.
Phone/Email: (541) 346-4673, [email protected]
Web Page: http://pages.uoregon.edu/mthoma/

Text: Stephen Cecchetti and Kermit Schoenholtz, Money, Banking, and Financial Markets, 3rd edition (McGraw Hill).

Prerequisites: Economics 313 or the equivalent.

GTF/Office/Hours: Scott Mildrum, PLC xxx, tba, [email protected]

Tests: There will be two midterms and a final. The midterms will be given on Thursday, October 20^th and on Tuesday, November 15^th. The final will be given on Monday, December 5^th from 1:00 p.m. – 3:00 p.m. 

Homework: Problem sets will be assigned periodically. These are graded, and exam questions will be based, in part, upon the problem sets. I will explain more about how the problem sets will be graded in class.

Grading: The midterms are worth 40% (20% each), the homework counts as 20%, and the final is worth 40%.  Grades will be assigned according to your relative standing in the class.

Students with Disabilities: If you have a documented disability and anticipate needing accommodations in this course, please make arrangements with me during the first week of the term. Please request that the counselor for students with disabilities (164 Oregon Hall) send me a letter verifying your disability.

Course Outline:

Introduction	Text Chapters
Introduction; Money and the Payments System	Ch. 2
Financial Instruments, Markets, and Institutions	Ch. 3, 4 (pgs. 86-90)
The Economics of Financial Intermediation	Ch. 11
Central Banking and the Conduct of Monetary Policy
Structure of Central Banks and the Federal Reserve System	Ch. 16
Multiple Deposit Creation and the Money Supply Process	Ch. 17
Tools of Monetary Policy	Ch. 18
Monetary Theory
Money Growth, Money Demand, and Monetary Policy	Ch. 20
Output, Inflation, and Monetary Policy	Ch. 21
Understanding Business Cycle Fluctuations	Ch. 22
The Challenges Facing Central Bankers (time permitting)	Ch. 23