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Course: Instructor: Semester: |
Financial Markets and Institutions,
FIN 6320.SU1 Peter Lewin Fall, August 25– December 12, 2014. |
| Course Information | Student Assessment | Course Outline | Course Policies | Technical Requirements | Course Access | Course Communications | Student Resources | Scholastic Dishonesty | Course Evaluation | UTD Policies
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Catalog Description
Financial behavior in relation to production and consumption decisions. Banking, financial intermediation, flows of funds, regulation and structure of financial markets. Selected topics of current interest. Prerequisites: FIN 6301, MECO 6201/6301 and STAT 5311.
Course Introduction
We live in an age of unprecedented prosperity and unprecedented change. Financial markets are an integral part of this. In this course we will learn that financial markets are crucial for the development of any economy. We will learn what they are and how they function. We will learn about different types of financial institutions, instruments and policy approaches. And we will learn how money fits in.
Course Learning Objectives - Learning Outcomes
1. Students will be able to explain the functions and benefits of money.
2. Students will be able to discuss the history of money.
3. Students will be able to explain the role and the benefits of financial intermediaries.
4. Students will be able to discuss the nature, determination and role of interest rates.
5. Students will be able to calculate Present Value and understand and discuss how these concepts can also be related to explain the term structure of interest rates.
6. Students will be able to list the types of financial assets available and discuss briefly the principles which guide their selection as part of a portfolio of assets.
7. Students will understand and be able to explain the relationship between types of financial contracts and the characteristics of the business environment, including business size and cultural background.
8. Students will be able to explain how regulation, inflation, and technology influence the development of financial institutions.
9. Students will be able to explain the differences between futures, options and swaps.
10. Students will explain the functioning and history of foreign exchange markets, the significance of the balance of payments and the integration of currency areas.
11. Students will be able to explain the history and structure of the Fed and compare it to other central banks. Students will be able to discuss the tools of monetary policy.
12. Students will be able to explain and evaluate monetary policy. Students will be able to discuss, compare and contrast the Classical economists, Keynesian economics, Monetarism and other approaches.
Course Format
The
course is divided into 12 “lessons” – see below.
Each lesson following a series of PowerPoint slides. These will be made
available to you.
For online students: The online material consists of 12 lessons. See Course Outline for details. Some of the lessons are longer than others. Please consult the accompanying instructions to determine how to listen to the online lessons and which method is best for you.
Each audio lesson is accompanied by lecture materials (usually in PowerPoint format). These materials contain lesson objectives, information on recommended reading and provide required formulas, diagrams, tables and outlines.
Instructor Information
Brief biography:
I was born and grew up in
My wife and I were married in December 1969. We have four children and nine grandchildren.
To see more about my professional and personal life visit my website at http://www.utdallas.edu/~plewin/
Contact information:
Email: |
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Phone: |
972-883-2729 |
Office |
SM 3.223 |
Instructor's Web Site: |
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Online Course Site: |
http://elearning.utdallas.edu/ (Note: requires login, see instructions
below) |
You can contact me anytime by phone or email, or by appointment in my office.
Course Materials
The text I have required for this course is the following:
Principles of Money, Banking & Financial Markets
by
This is a fairly accessible text and, though it has more detail than I will cover in the lessons, the approach is similar to mine. From time to time I will suggest some optional supplementary reading. In addition to reading the recommended chapters plus supplementary material you would do best to listen carefully to the lessons.
The following paper is also required reading. Click on it to follow the link. You will need Adobe Acrobat to read it; it can be downloaded from their site for free.
Textbooks
and some other bookstore materials can be ordered online through Off-Campus Books or the UTD Bookstore. They are also available in stock at
both bookstores.
There
will be three online tests, two midterms (25%) and a semi-comprehensive final
(50%). The tests will be composed of multiple choice questions. In
addition 5% can be added to your grade by participation.
Test 1 (covers lessons 1-5) |
25% |
9/26 (12 am)
‐ 28 (11:59 pm) - 1 hour |
Test 2 (covers lesson 6-9) |
25% |
10/31 (12 am) ‐ 11/2
(11:59 pm) - 1 hour |
Test 3 (final, comprehensive)
|
50% |
12/12 (12 am)
‐ 14 (11:59 pm) – 2 hours |
The following are the grades that are possible to earn in this class.
A,
A-, B+, B, B-, C+, C and F, X.
The actual grade distribution for each test will be determined by the
total class performance. I will publish a grade distribution, linking scores to
grades, after each test and for the course as a whole.
Online Testing
You can access tests by clicking the
Assessments link on the course menu or see the quiz/exam icon on the designated
page. Each test is timed and can be accessed only one time within the scheduled
time window. Please read the on-screen instructions carefully before you click “Begin
Assessment”. After each test is graded and released, you may go back to the
Assessments page and click “View All Submissions” to review your test results.
There is a self test for each lesson. They are non-credit tests for self assessments and help you prepare for 3 tests.
Grades
You can check your grades by accessing the
“My Grades” icon on Student Tools page after the grade for each item listed is
released.
Lesson 1 |
The Nature, Origins and Development
of Money as a Social Institution. – Part One |
In this lesson we discuss, in broadly
philosophical terms the functions and benefits of money. |
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Lesson 2 |
The Nature, Origins and Development
of Money as a Social Institution. – Part Two |
In this lesson we discuss how money
came about. |
|
Lesson 3 |
Financial Intermediation –
Institutions and Instruments |
In this lesson we gain an
understanding of the role and the benefits of financial intermediaries. We
look at what kinds there are and what assets they trade. |
|
Lesson 4 |
Interest Rates – what they are and
how the are determined |
In this lesson we gain an
understanding of the nature, determination and role of interest rates. |
|
Lesson 5 |
The Structure of Interest Rates and
the Determination of Present Value |
In this lesson we learn about the
universal arithmetic of Present Value and see how these concepts can also be
related to explain the term structure of interest rates. |
|
Test
1 |
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Lesson 6 |
Choosing among Financial Assets: the
Principles of Portfolio Selection |
In this lesson we will review the
types of financial assets available and discuss briefly the principles which
guide their selection as part of a portfolio of assets. |
|
Lesson 7 |
Understanding Financial Contracts |
In this lesson we will learn about
the relationship between types of financial contracts and the characteristics
of the business environment, including business size and cultural background
(ex. USA v. Japan). |
|
Lesson 8 |
The Regulation and Evolution of
Financial Intermediaries |
In this lesson we will learn how,
regulation, inflation, and technology has influenced the development of
financial institutions. |
|
Lesson 9 |
Understanding Derivatives |
In this lesson we will learn about
futures, options and swaps. |
|
Test
2 |
|
Lesson 10 |
Understanding Foreign Exchange |
In this lesson we will learn about
the functioning and history of foreign exchange markets, the significance of
the balance of payments and the integration of currency areas (e.g. the Euro) |
|
Lesson 11 |
The Federal Reserve System |
In this lesson we will learn about
the history and structure of the Fed. and how it compares to other
central banks. We will discuss the tools of monetary policy. |
|
Lesson 12 |
Monetary Theory and Policy |
In this lesson we will develop a
framework for understanding and evaluating monetary policy. We will place
this in the context of the history of economic thought. We will learn about the
Classical economists, Keynesian economics, Monetarism and other approaches. |
|
Test
3 |
Make-up exams
Will be given only in exceptional
circumstances
Extra Credit
There are no extra credit assignments
Late Work
N/A
Special Assignments
There are no special assignments
Class Participation
Students are required to login regularly to
the online class site. The instructor will use the tracking feature in eLearning
to monitor student activities.
Virtual Classroom Citizenship
The same guidelines that apply to traditional
classes should be observed in the virtual classroom environment. Please use
proper netiquette when interacting with class members and the professor.
Policy on Server Unavailability or Other
Technical Difficulties
The university is committed to providing a
reliable online course system to all users. However, in the event of any
unexpected server outage or any unusual technical difficulty which prevents
students from completing a time sensitive assessment activity, the instructor
will extend the time windows and provide an appropriate accommodation based on
the situation. Students should immediately report any problems to the
instructor and also contact the UTD eLearning Help Desk: http://www.utdallas.edu/elearninghelp, 1-866-588-3192. The
instructor and the UTD eLearning Help Desk will work with the student to
resolve any issues at the earliest possible time.
In addition to a confident level of computer and Internet literacy, certain minimum technical requirement must be met to enable a successful learning experience. Please review the important technical requirements and the web browser configuration information.
This course was developed using a web course tool called eLearning. It is to be delivered entirely online. Students will use UTD NetID account to login to the course at: http://elearning.utdallas.edu. Please see the details of course access and navigation information.
To get started with an eLearning course,
please see the Getting Started: Student eLearning Orientation.
UTD provides eLearning technical support 24
hours a day/7 days a week. The services include a toll free telephone number
for immediate assistance (1-866-588-3192), email request service, and an online
chat service. The UTD user community can also access the support resources such
as self-help resources and a Knowledge Base. Please use this link to access the
UTD eLearning
ELearning course has built-in communication
tools which will be used for course interactions and communications. Some
external communication tools such as regular email and web conferencing tool
may also be used during the semester. Please see more details about communication tool information.
Another communication tool available to
students is live voice chat in the 3D virtual world of Second Life.
Instructions for accessing the
Interaction with Instructor: Instructor will communicate with students mainly using the Discussion board. Students may send personal concerns or questions to the instructor via email. Instructor will reply to student emails or Discussion board messages within 3 working days under normal circumstances.
The following university resources are
available to students:
UTD Distance Learning: http://www.utdallas.edu/oee/distance/students/cstudents.htm
McDermott Library: Distance Learners
(UTD students who live outside the boundaries of Collin,
As required by UTD academic regulations, every student should complete an evaluation for the course at the end of the semester. An online instructional assessment form will be made available for your confidential use. Please look for the course evaluation link on the course Homepage several weeks before the course ends.
University Policies Relevant
for Students:
Scholastic Honesty
The
University has policies and discipline procedures regarding scholastic
dishonesty. Detailed information is available on the UTD Judicial Affairs web page. All students are expected
to maintain a high level of responsibility with respect to academic honesty.
Students who violate University rules on scholastic dishonesty are subject to
disciplinary penalties, including the possibility of failure in the course
and/or dismissal from the University. Since such dishonesty harms the
individual, all students and the integrity of the University, policies on
scholastic dishonesty will be strictly enforced.
Course Evaluation
As
required by UTD academic regulations, every student must complete an evaluation
for each enrolled course at the end of the semester. An online instructional
assessment form will be made available for your confidential use. A link to an
online instructional assessment form will be emailed to you towards the end of
the semester.
Online behavior - Virtual Classroom
Citizenship
The
same guidelines that apply to traditional classes should be observed in the
virtual classroom environment. Please use proper netiquette when interacting
with class members and the professor.
Policy on Server Unavailability or Other
Technical Difficulties
The university is committed
to providing a reliable online course system to all users. However, in the
event of any unexpected server outage or any unusual technical difficulty which
prevents students from completing a time sensitive assessment activity, the
instructor will extend the time windows and provide an appropriate
accommodation based on the situation. Students should immediately report any
problems to the instructor and also contact the UTD eLearning Help Desk: http://www.utdallas.edu/elearninghelp, 1-866-588-3192. The instructor and
the UTD eLearning Help Desk will work with the student to resolve any issues at
the earliest possible time.
University Policies
General policies, including policies
on Academic Honesty and Integrity.
Please go to http://go.utdallas.edu/syllabus-policies for these policies.
Student
Conduct & Discipline
The
University of Texas System and The University of Texas at Dallas have rules and
regulations for the orderly and efficient conduct of their business. It is the
responsibility of each student and each student organization to be
knowledgeable about the rules and regulations which govern student conduct and
activities.
The
University of Texas at Dallas administers student discipline within the
procedures of recognized and established due process. Procedures are defined
and described in the Rules and
Regulations of the Board of Regents of the University of Texas
System, Part 1, Chapter VI, Section 3, and in Title V, Rules on Student Services and Activities of
the Course Syllabus Page 8, University’s
Handbook of Operating Procedures. Copies of these rules and regulations
are available to students in the Office of the Dean of Students, where staff
members are available to assist students in interpreting the rules and
regulations (SSB 4.400, 972/883- 6391).
A
student at the university neither loses the rights nor escapes the
responsibilities of citizenship. He or she is expected to obey federal, state,
and local laws as well as the Regents’ Rules, university regulations, and
administrative rules. Students are subject to discipline for violating the
standards of conduct whether such conduct takes place on or off campus, or
whether civil or criminal penalties are also imposed for such conduct.
© Peter Lewin 2012-14.