ECON 3430

Monetary Economics I: Financial Markets and Institutions

York University

Studies the principal financial institutions and markets in the Canadian economy. Analyzes the economic function, regulation, and operational features of these institutions and markets. Considers the corresponding institutions and markets in other countries.
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24HR Notes for ECON 3430

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Georgios Stefanidis

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ECON 3430 Lecture Notes - Winter 2019, Lecture 13 - Fiat Money, Barter, Commodity Money

ECON 3430 Lecture 13 Notes Monetary Exchange and Exchange Costs Introduction An alternative pattern of trade uses fiat money as a medium of exchange. Suppose young people seek to trade their goods to the old for fiat money...

ECON 3430
Georgios Stefanidis
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Available as soon as 20 Feb 2019

ECON 3430
Georgios Stefanidis

ECON 3430 Syllabus for Georgios Stefanidis — Winter 2019

York University
Faculty of Liberal Arts and Professional Studies
Department of Economics
Course Name and Term
AP/ECON 3430N Monetary Economics I: Financial Markets and Institutions - Winter 2019
AP/ECON 1010
Course Webpage I will post lecture notes, and other material on the course webpage.
Course Instructor
Professor: Georgios (George) Stefanidis
Office: Vari Hall 1038
Phone: (416) 736-2100 ext.77052
Lecture Hours and Location: Tuesday, Thursday 5:30-7:00, Accolade Building West 004
Extended Course Description
This course is an introduction to Monetary Economics. We first build a theoretical framework
that makes sense of the presence of fiat currency, i.e., money. Through the lens of this framework
we study various economic institutions and tradeoffs related to money. A deeper understanding of
such institutions (e.g., central and retail banks) and tradeoffs (e.g., holding money vs capital) are
important additions to a macroeconomist’s toolkit. In addition, methodological tools acquired in
this course are extremely helpful for other economics classes.
Required Textbook
Champ, B., Freeman, S., and Haslag, J. Modeling Monetary Economies, Cambridge University
Press, Fourth Edition 2016
Chapter 1 Trade without Money: The Role of Record Keeping
Chapter 2 A Simple Model of Money
Chapter 7 Capital
Chapter 8 Liquidity and Financial Intermediation
Chapter 9 Central Banking and Money Supply
Chapter 10 Money Stock Fluctuations
Chapter 13 Bank Risk
There will be a midterm and a final exam. The midterm will be held on February 26. The fi-
nal exam will cover all material discussed in class. The date of the final exam will be determined
by the Registrar’s Office.
Let your scores on the midterm and final exam be mand frespectively. Your grade will be
based on the following formula:
0.7f+ 0.3 max m , f
In other words, your midterm exam will only count if you do better in the midterm exam than in
the final exam. In this case it will count for 30% of your final grade and the final exam will count
for 70% of your final grade. Otherwise, your final exam will count for 100% of your final grade.
Rules on Grading, Missed Tests and Exams
1. No make-up exam for the midterm exam. If you miss the midterm test for any reason, your
final exam will have a weight of 100% of your final grade
2. The grades may be scaled to conform with the regulations of the Faculty of Liberal Arts &
Professional Studies
Notes on Academic Honesty
Conduct that violates the ethical or legal standards of the university community or of one’s program
or specialization, may result in serious consequences. You are encouraged to familiarize yourself
with this Senate legislation located in: cte main pages/ccas.htm
Important Dates
Religious Observances Dates
Withdrawal Policy -w-policy-and-guidelines/

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