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Course: Instructor: Semester: |
Money and Capital Markets FIN 6320.0I1 - online Peter Lewin Spring 2012 January 17 – May 4,
2012 |
| 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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Course Information
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 seven grandchildren.
To see more about my professional and personal life visit my website at http://www.utdallas.edu/~plewin/
Contact information:
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Email: |
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Phone: |
972-883-2729 |
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Office |
SM 3.223 |
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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.
Student Assessment:
Grading/Evaluation
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.
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Test 1 (covers lessons 1-5) |
25% |
February 17 (12 am) –19
(11:59 pm) - 1 hour |
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Test 2 (covers lesson 6-9) |
25% |
March 30 (12 am) April 1
(11:59 pm) - 1 hour |
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Test 3 (final, comprehensive)
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50% |
May 4 (12 am) –May 6 (11:59 pm)
- 2 hours |
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Bonus for class participation
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Maximum 5% |
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The following are the grades that are possible to earn in this class.
A,
A-, B+, B, B-, C+, 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.
Class Participation (up to a possible 5% bonus added to your score)
You may participate in class discussion by following the “Discussions” link on your navigation menu (on the left side of the screen). I will create and manage a series of discussion topics and questions at different points during the semester. Discussion on particular topics will be open for only a limited time period. So, you should watch this space for current and new topics. I encourage you to post questions or comments on the topics (this is a public space, so everyone will see your posting). You will be rewarded for evidence that you understand the material and that suggests good thinking. You will not be rewarded for postings that do not fall into this category – and you could be penalized for subjecting me and your fellow classmates to postings that are a waste of time. So keep your postings short and make sure they have some value.
In addition to the providing you the possibility of earning a bonus, the discussions will prepare you for the tests. So I urge you to at least read the discussions and my replies as part of your learning and preparation.
To ask general questions, or make a general comment – related to the course in general and not to a specific topic – make use of the topic space entitled “Questions for Peter Lewin.” Remember everyone in the class will see these, so use this space for communications that may be of interest to everyone. To communicate with me privately, on topics of interest or pertinent only to you, please use my university email address plewin@utdallas.edu. To privately email other students in the course you may use the “Mail” utility linked on the Navigation menu. To keep abreast of the latest topics and on announcements relating to the course – which could include supplementary course information – be sure to frequently visit the topic space entitled “Announcements from Peter Lewin.”
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.
Course Outline
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Lesson 1 |
The Nature, Origins and Development
of Money as a Social Institution. – Part One |
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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 |
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In this lesson we discuss how money
came about. |
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Lesson 3 |
Financial Intermediation –
Institutions and Instruments |
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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. |
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Lesson 4 |
Interest Rates – what they are and
how the are determined |
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In this lesson we gain an
understanding of the nature, determination and role of interest rates. |
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Lesson 5 |
The Structure of Interest Rates and
the Determination of Present Value |
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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. |
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Test
1 |
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Lesson 6 |
Choosing among Financial Assets: the
Principles of Portfolio Selection |
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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. |
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Lesson 7 |
Understanding Financial Contracts |
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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). |
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Lesson 8 |
The Regulation and Evolution of
Financial Intermediaries |
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In this lesson we will learn how,
regulation, inflation, and technology has influenced the development of
financial institutions. |
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Lesson 9 |
Understanding Derivatives |
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In this lesson we will learn about
futures, options and swaps. |
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Test
2 |
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Lesson 10 |
Understanding Foreign Exchange |
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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) |
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Lesson 11 |
The Federal Reserve System |
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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. |
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Lesson 12 |
Monetary Theory and Policy |
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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. |
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Test
3 |
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Course Policies
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. Students are also required to
participate in all class activities such as discussion board activities, chat
or conference sessions and group projects.
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.
Technical
Requirements
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.
Course Access and Navigation
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
Course Communications
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.
Student Resources
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,
Scholastic Dishonesty
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 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
Student Conduct & Discipline
The
The
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.
Academic Integrity
The faculty expects from its students a high
level of responsibility and academic honesty.
Because the value of an academic degree depends upon the absolute integrity
of the work done by the student for that degree, it is imperative that a
student demonstrate a high standard of individual honor in his or her
scholastic work.
Scholastic dishonesty includes, but is not
limited to, statements, acts or omissions related to applications for
enrollment or the award of a degree, and/or the submission as one’s own work or
material that is not one’s own. As a
general rule, scholastic dishonesty involves one of the following acts: cheating, plagiarism, collusion and/or falsifying
academic records. Students suspected of
academic dishonesty are subject to disciplinary proceedings.
Plagiarism, especially from the web, from
portions of papers for other classes, and from any other source is unacceptable
and will be dealt with under the university’s policy on plagiarism (see general
catalog for details). This course will
use the resources of turnitin.com, which searches the web for possible
plagiarism and is over 90% effective.
Email Use
The
Withdrawal from Class
The administration of this institution has
set deadlines for withdrawal of any college-level courses. These dates and
times are published in that semester's course catalog. Administration
procedures must be followed. It is the student's responsibility to handle
withdrawal requirements from any class. In other words, I cannot drop or
withdraw any student. You must do the proper paperwork to ensure that you will
not receive a final grade of "F" in a course if you choose not to
attend the class once you are enrolled.
Student Grievance Procedures
Procedures for student grievances are found
in Title V, Rules on Student Services and Activities, of the university’s Handbook
of Operating Procedures.
In attempting to resolve any student
grievance regarding grades, evaluations, or other fulfillments of academic
responsibility, it is the obligation of the student first to make a serious
effort to resolve the matter with the instructor, supervisor, administrator, or
committee with whom the grievance originates (hereafter called “the
respondent”). Individual faculty members
retain primary responsibility for assigning grades and evaluations. If the matter cannot be resolved at that
level, the grievance must be submitted in writing to the respondent with a copy
of the respondent’s School Dean. If the
matter is not resolved by the written response provided by the respondent, the
student may submit a written appeal to the School Dean. If the grievance is not resolved by the
School Dean’s decision, the student may make a written appeal to the Dean of
Graduate or Undergraduate Education, and the deal will appoint and convene an
Academic Appeals Panel. The decision of
the Academic Appeals Panel is final. The
results of the academic appeals process will be distributed to all involved
parties.
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.
Incomplete Grade Policy
As per university policy, incomplete grades will
be granted only for work unavoidably missed at the semester’s end and only if
70% of the course work has been completed.
An incomplete grade must be resolved within eight (8) weeks from the
first day of the subsequent long semester.
If the required work to complete the course and to remove the incomplete
grade is not submitted by the specified deadline, the incomplete grade is
changed automatically to a grade of F.
Disability Services
The goal of Disability Services is to provide
students with disabilities educational opportunities equal to those of their
non-disabled peers. Disability Services
is located in room 1.610 in the Student Union.
Office hours are Monday and Thursday, 8:30 a.m. to 6:30 p.m.; Tuesday
and Wednesday, 8:30 a.m. to 7:30 p.m.; and Friday, 8:30 a.m. to 5:30 p.m.
The contact information for the Office of
Disability Services is:
The
(972) 883-2098 (voice or TTY)
Essentially, the law requires that colleges
and universities make those reasonable adjustments necessary to eliminate
discrimination on the basis of disability.
For example, it may be necessary to remove classroom prohibitions
against tape recorders or animals (in the case of dog guides) for students who
are blind. Occasionally an assignment
requirement may be substituted (for example, a research paper versus an oral
presentation for a student who is hearing impaired). Classes enrolled students with mobility
impairments may have to be rescheduled in accessible facilities. The college or university may need to provide
special services such as registration, note-taking, or mobility assistance.
It is the student’s responsibility to notify
his or her professors of the need for such an accommodation. Disability Services provides students with
letters to present to faculty members to verify that the student has a
disability and needs accommodations.
Individuals requiring special accommodation should contact the professor
after class or during office hours.
Religious Holy Days
The
The student is encouraged to notify the
instructor or activity sponsor as soon as possible regarding the absence,
preferably in advance of the assignment.
The student, so excused, will be allowed to take the exam or complete
the assignment within a reasonable time after the absence: a period equal to
the length of the absence, up to a maximum of one week. A student who notifies
the instructor and completes any missed exam or assignment may not be penalized
for the absence. A student who fails to complete the exam or assignment within
the prescribed period may receive a failing grade for that exam or assignment.
If a student or an instructor disagrees about
the nature of the absence [i.e., for the purpose of observing a religious holy
day] or if there is similar disagreement about whether the student has been
given a reasonable time to complete any missed assignments or examinations,
either the student or the instructor may request a ruling from the chief executive
officer of the institution, or his or her designee. The chief executive officer
or designee must take into account the legislative intent of TEC 51.911(b), and
the student and instructor will abide by the decision of the chief executive
officer or designee.
Off-Campus Instruction and Course Activities
Off-campus, out-of-state, and foreign
instruction and activities are subject to state law and University policies and
procedures regarding travel and risk-related activities. Information regarding these rules and
regulations may be found at the website address given below. Additional
information is available from the office of the school dean. (http://www.utdallas.edu/BusinessAffairs/Travel_Risk_Activities.htm)
These descriptions and timelines are subject
to change at the discretion of the Professor.
© Peter Lewin 2012