ECO 3223 - MONEY AND BANKING

Summer 2006

The Course Outline (pdf format).

The Course Outline (html format).

Visit the book web page at http://www.mhhe.com/economics/cecchetti1e

Download the Acrobat Reader (version 5.0) to Read and Print all documents.

Assignments

• Assignment IV
  • Chapter 20: Problems 3, 4, 5, 9.
  • Chapter 21: Problems 5, 7, 11, 12.
  • Chapter 22: Problems 11, 12, 13.
• Assignment III
  • Chapter 15: Problems 1, 3.
  • Chapter 16: Problems 2, 3, 6, 10.
  • Chapter 17: Problems 4, 11, 12, 14.
  • Chapter 18: Problems 2, 8, 9, 11.
• Assignment II
  • Chapter 11: Problems 2, 5, 7, 13.
  • Chapter 13: Problems 4, 5, 12, 17.
  • Chapter 14: Problems 3, 8, 9, 14.
• Assignment I:
  • Chapter 4: Problems 1, 5, 9, 11.
  • Chapter 6: Problems 1, 7, 8, 9.
• Use the Fed name [that you already selected] as your group name, e.g., if your Fed district is New York, then your group name is New York.

Exams

• The Final Exam will be held on June 22, 2006.
  • The Final Exam will cover Chapters: 15, 16, 17, 18, 20, 21, 22 and 23.
  • Prepare by reading the book, the class notes, solving the assignment problems and answering the questions in the Study Guide.
  • DO NOT FORGET to bring a BROWN scantron sheet.
  • DO NOT FORGET to bring a Calculator.
• QUIZ IV will be held on June 15, 2006.
  • The QUIZ will cover Chapters: 20, 21 and 22.
  • THIS IS A MIXED QUIZ: MULTIPLE-CHOICE QUESTIONS and ONE SHORT-ESSAY QUESTION.
  • Prepare by reading the book, the class notes, solving the assignment problems and answering the questions in the Study Guide.
  • DO NOT FORGET to bring a BROWN scantron sheet.
  • DO NOT FORGET to bring a Calculator.
• QUIZ III will be held on June 8, 2006.
  • The QUIZ will cover Chapters: 15, 16, 17 and 18.
  • THIS IS AN ALL MULTIPLE-CHOICE QUIZ.
  • Prepare by reading the book, the class notes, solving the assignment problems and answering the questions in the Study Guide.
  • DO NOT FORGET to bring a BROWN scantron sheet.
  • DO NOT FORGET to bring a Calculator.
• QUIZ II will be held on May 25, 2006.
  • THIS IS AN ALL ESSAY QUIZ.
  • QUIZ II will cover Chapters: 11, 13, 14 and the following class handouts/papers.
  • The QUIZ will cover the following class handouts posted on the class web page and handed in class. We covered these notes in class.
    1. Class Handout: Financial Institutions.
    2. Class Handout: Deposits Taking Institutions.
    3. Class Handout: Non-Deposits Taking Institutions.
    4. Class Handout: Regulations of Financial Institutions.
    5. Class Handout: United States Acts related to the Financial Institutions.
    6. Class Handout: Federal Deposit Insurance Corporation (FDIC).
  • Prepare by reading the book, the class notes, the class handouts, solving the assignment problems and answering the questions in the Study Guide.
  • You are allowed a single page of notes during the QUIZ (FRONT and BACK). This note will be handed to the examiner at the end of the class.
• QUIZ I will be held on May 18, 2006.
  • The QUIZ will cover Chapters: 1, 2, 3, 4 and 6.
  • Prepare by reading the book, the class notes, solving the assignment problems and answering the questions in the Study Guide.
  • DO NOT FORGET to bring a BROWN scantron sheet.
  • DO NOT FORGET to bring a Calculator.

Federal Reserve Team Assignment

• The Federal Reserve Team Assignment.
• The Beige Book Release Schedule for 2006.
• The Business Cycle:
  • FAQ of the NBER Business Cycle Dating Committee.
  • The NBER’s Recession Dating Procedure.
  • Business Cycle Expansions and Contractions.
• The term paper is to be handed prior to 4:00 p.m. on June 20, 2006, in an:
  • e-format upload to turnitin.com [see details below],
  • e-format by e-mail, and
  • in a hard copy.
• Turnitin submission: These are the instructions on how to submit the term paper on turnitin.com:
  • Read the Turnitin Student Guide.
  • Go to http://www.turnitin.com
  • Create a user profile (just like an email account).
  • Add this class to the list of your classes.
  • The Class id: 1533800
  • The enrollment pass: eco3223
  • Submit your paper.
• The Teams:
  • Boston:
  • New York: Andrew Netto, Allen Hamby, Jesus Carvalho (T.J.), Samantha Gonzalez, Pascal Schoneburg.
  • Philadelphia: Jeffrey Davis, Eric Elbaz, Rick Garitta, Shaun Lara, Mike Cuba, Charles Lytle.
  • Cleveland: Kacey Sullivan, Courtney Root, Geremy Salter, Kris Tiedt, Ashley McKinney.
  • Richmond: Steven Seigler, Chih-Hao Hsu, Maria Rojas, Lindsey Angier, Amanda Dickerhoof.
  • Atlanta: Andrew Grandage, Giona McCain, Rose Nestor, Sasha Mcsweeney, Mike Austin, David Bent.
  • Chicago: Ryan Bynan, Robert Simmons, John Mattox, Kari-Jo Koshes, Amanda McKinney.
  • St. Louis: Matthew Coleman, Philip Korczynski, Jessica Londono, Phillip Panteloukas, Raquel Carrillo.
  • Minneapolis: Matt Girardi, Linsey Hillend, Kyle Hepp, Dawn Russell, Christopher Min.
  • Kansas City:
  • Dallas: Amanda Gifol, Sam Floyd, Cherie Francoeur, and Alexandra Nguyen.
  • San Francisco:
  • Federal Reserve Board

LECTURE NOTES, ARTICLES and CLASS DISCUSSIONS

The lecture notes are not substitutes for the textbook, they are a complement to the textbook.

Subscribe to the following:

• Monetary Trends at the St. Louis Federal Reserve Bank.
• National Economic Trends at the St. Louis Federal Reserve Bank.
• How to Register for Monetary Trends Email Notifications.
• How to Register for National Economic Trends Email Notifications.

Notes and Readings

• Chapter 1 - Class Notes.
• Chapter 2 - Class Notes.
• Chapter 3 - Class Notes.
• The Time Line of the U.S. Financial System.
• PAPER: Walter, John R. (1989) Monetary Aggregates: A User’s Guide. Economic Review, Federal Reserve Bank of Richmond, pp. 20-28.
• Chapter 4 - Class Notes.
• Chapter 6 - Class Notes.
• Chapter 7 - Class Notes.
• Historical: The Yield Curve <-- try this one - Look at April 1980.
• Visit the http://www.investinginbonds.com/ to check the yield curve.
• Bonds Markets Defined.
• Link: Large Commercial Banks Data.
• Class Handout: Financial Institutions.
• Class Handout: Deposits Taking Institutions.
• Class Handout: Non-Deposits Taking Institutions.
• Class Handout: Regulations of Financial Institutions.
• Class Handout: United States Acts related to the Financial Institutions.
• Class Handout: Federal Deposit Insurance Corporation (FDIC).
• FDIC: Statistics at a Glance.
• Class Handout: FDIC closure list.
• PAPER: P. Konstas (2006) Reforming Deposit Insurance Levy Economics Institute Public Policy Brief No. 83, January 2006.
• Chapter 11 - Class Notes.
• Chapter 13 - Class Notes.
• Chapter 14 - Class Notes.
• PAPER:  Alan C. Stockman On the Roles of International Financial Markets and Their Relevance for Economic Policy Journal of Money, Credit and Banking.
• PAPER:  Mark Gertle Financial Structure and Aggregate Economic Activity: An Overview Journal of Money, Credit and Banking.
• PAPER:  Wendy Carlin and Colin Mayer (1999) How Do Financial Systems Affect Economic Performance? Oxford Working Papers.
• Chapter 15 - Class Notes.
• Chapter 16 - Class Notes.
• Class Handout: Federal Reserve System.
• PAPER: Michael D. Bordo (2005) Review of A History of the Federal Reserve. National Bureau of Economic Research paper #11714.
• Link to the Federal Reserve System 101.
• Link to the Fed101 "Fed Today Video".
• Link to the Federal Reserve Board.
• Link to the Federal Reserve Educational Page.
• Regulations set by the Federal Reserve.
• The New Currency (Interactive Notes).
• The Bureau of Engraving and Printing - U.S. Banknotes.
• The Bureau of Engraving and Printing - Money Facts.
• Link to the Federal Reserve Balance Sheet.
• Class Handout: The Federal Reserve System.
• Chapter 17 - Class Notes.
• Link to Open Market Operations.
• Link to Money Multiplier.
• Link to the Reserve Requirements.
• Chapter 18 - Class Notes.
• PAPER: Joshua N. Feinman (1993) Reserve Requirements: History, Current Practice, and Potential Reform Federal Reserve Bulletin, issue June, pages 569-589.
• Chapter 20 - Class Notes.
• Chapter 21 - Class Notes.
• Chapter 22 - Class Notes.
• Chapter 23 - Class Notes.

• Money, Value, and Monetary History
• Six Kinds of United States Paper Currency.
• Papers:
  • Nicola Cetorelli (2001) Competition among banks: Good or bad? Economic Perspectives, Federal Reserve Bank of Chicago.
  • O. M. W. Sprague (1910) Proposals for Strengthening the National Banking System, The Quarterly Journal of Economics, vol. 25 (1), 67-95. [YES, it is a 1910 study, there is no typos in the year].
  • J. Alfred Broaddus, Jr. (1994) Choices in Banking Policy. Economic Quarterly, Federal Reserve Bank of Richmond.
  • Robert DeYoung (2001) The Internet’s place in the banking industry. Chicago Fed Letter, Federal Reserve Bank of Chicago.
• Regulations set by the Fed for International Banking: Regulation K
• Papers:
  • The Future of Banking in America: Summary and Conclusions (pdf) | HTML
  • The Evolving Role of Commercial Banks in U.S. Credit Markets (pdf) | HTML
  • The U.S. Federal Financial Regulatory System: Restructuring Federal Bank Regulation
  • John H. Boyd and Stanley L. Graham (1991) Investigating the Banking Consolidation Trend. Quarterly Review Vol. 15 No. 2, Federal Reserve Bank of Minneapolis.
• June Nualtaranee (1999) Transmission Mechanism of Monetary Policy.
• Stephen D. Oliner and Glenn D. Rudebusch (1995) "Is there a bank lending channel for monetary policy?"  Economic Review, Federal Reserve Bank of San Francisco.

• RBC view on Monetary Transmission Mechanisms

  • Plosser, Charles I. "Understanding Real Business Cycles," Journal of Economic Perspectives 3 (1989), pp. 51-77.

  • Robert G. King and Charles I. Plosser. "Money, Credit, and Prices in a Real Business Cycle," American Economic Review, (1984) vol. 74, issue 3, pages 363-80.

MISCELLANEOUS

• How the Government Measures Unemployment.
• How the Fed sets Interest Rates.
• Macroeconomics Resources for Students.
• NATIONAL ACCOUNTS A Guide to the NIPA's By Eugene P. Seskin and Robert P. Parker (Important for Definitions)
• The Consumer Price Index - General Coverage.
• The Consumer Price Index--Why the Published Averages Don't Always Match An Individual's Inflation Experience. The Bureau of Labor Statistics.
• The United States Economy at a Glance.
• Teach yourself basic Macroeconomics. 

Conversion Table for the GRADES

The following letter grade system will be used,

YOUR GRADE IS NOT POSTED The grades will be handed in class

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Last Updated Monday, February 23, 2009 01:56:42 PM