ECONOMICS 303
Money, Financial Markets, and Economic Policy
Fall 2005
Instructor - Robert F. Mulligan
email: mulligan@wcu.edu
http://paws.wcu.edu/mulligan
|
WRITING ASSIGNMENT |
1. Office hours - MWF 1:00 - 3:00 PM & TTh
9:00 - 11:00 AM, or by appointment. I am always happy to talk to students
outside my scheduled hours. Feel free to drop in without an appointment,
but if you are coming from off campus, call first to make sure I will be
available.
Office Hours/Teaching Schedule
Office - Forsyth
309, Phone - (828) 227-3329.
Department of Computer Information Systems and Economics -
Forsyth 304 & 305, Phone - (828) 227-7074.
2. Required Texts
The Economics of Money, Banking,
and Financial Markets (7th ed.),
Frederic S. Mishkin
I will provide copies of the
supplemental readings from the American Institute for Economic Research.
3. Course Objectives
a. You will investigate the
relationship between the macroeconomy and basic financial markets: stock, bond,
and foreign exchange markets.
b. You will know the operating
procedures, motivations, instruments, and impact of the Federal Reserve System.
The impact of the Federal Reserve on financial markets will be explored.
c. We will review basic theoretical
models for forecasting changes in GDP, inflation, interest rates, the stock
market, and exchange rates. You will learn to select the appropriate model for
assessing particular items of current information.
d. You will be able to explain the
role of money and monetary policy in business cycle fluctuations and will
attempt to forecast changes in the business cycle using monetary and financial
data and current business cycle data.
Austrian business cycle (ABC) theory will be emphasized.
e. You will learn the fundamentals of
international finance and the role of the U.S. financial system in the world
economy.
f. You will develop a framework for
visualizing the connections among seemingly separate phenomena as a basis for
deeper understanding of why some things matter more than others.
g. We will discuss problems faced by
the European Monetary System as it attempts to establish a common European
currency.
4. Course Organization
"Eighty percent of success
is just showing up." - Woody Allen
a. Class attendance is essential and
roll will be taken at the beginning of every class meeting. Attendance is
important because:
1. Difficult concepts will be
explained and graded activities will occur in class, and
2. Responsible adults display
responsible behavior.
b. Grades: Out of a total of 600
possible points,
|
Test 1 |
100 points |
|
Test 2 |
100 points |
|
Test 3 |
100 points |
|
Forecasting Project |
100 points |
|
Final |
200 points |
|
Total: |
600 points |
Final letter grades
will be assigned according to the following schedule:
|
Letter Grade |
Minimum Required Percentage |
|
A |
95% |
|
A- |
90% |
|
B+ |
87% |
|
B |
83% |
|
B- |
80% |
|
C+ |
75% |
|
C |
70% |
|
C- |
68% |
|
D+ |
65% |
|
D |
63% |
|
D- |
60% |
|
F |
0 |
Western students do
not cheat. Cheating will not be tolerated and will result in an automatic grade
of F for the course. Any indication of cheating on exams,
plagiarizing, or copying previous forecasting projects will result in an
automatic grade of F for the course.
c. Examination Policies:
1.
No make ups. Absences must be excused prior to the exam.
2. You are
responsible for being in class to do assigned work. Any absences will adversely
affect your final grade. There will be no make ups for missed group activities,
in-class assignments, homework, or quizzes.
3. Cheating
will result in an automatic grade of F for the course.
d.
Gridsheets/scantron
forms:
You are required to purchase four scantron forms at
the bookstore. These will be collected by me on Wednesday, January 17. If
you do not hand these in on the designated day, you will not be permitted to
take the exams. Please do not put your names or fill in any circles on the scantron forms you hand in.
e. Withdrawal Policy:
1.
Students should discuss withdrawal with the instructor so I can advise you of
your options and standing in the course. I do not attempt to prevent students
from withdrawing.
2. Ws will
not be given after the deadline except for documented medical or legal reasons.
See the university policy in the Undergraduate Catalog.
5.
Disabled/Handicapped Students
If you have a disability or handicap
requiring special accommodation, notify me immediately so arrangements can be
made.
6. Course Calendar