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Money, Banking and Financial Markets |
PACE UNIVERSITY
Lubin School of Business
MBA Program
Pace Plaza, NY, NY
FIN 644 – Money, Banking and Capital Markets
Stephen G Cecchetti (Brandeis University), Money, Banking and Financial Markets (McGraw-Hill, 2006) ISBN: 0072452692
Date Topic
Sept. 7 Introduction. The five components of financial markets. The five themes of the course (“TRIMS-TimeRiskInformationMoneyStability”). Money and payments system.
CASE: Where Are the $100 Bills? (p. 28) Chapters 1-2
Sept. 14 Payment system, overview of financial instruments and markets. Present value and interest rates.
CASE: Terrorism Insurance (p. 38). Chapters 3-4
Sept. 21 Risk. Bonds and determinants of interest rates.
CASE: Government-Run Lotteries (p. 101). Chapters 5-6
Sept. 28 Risk and term structure of interest rates (Prof. Hormozi).
CASE: Michael Milken and Junk Bonds (p. 157). Chapter 7
Oct. 5 Stocks and Market Efficiency (Prof. Hormozi)
CASE: Are Stock Market Prices Too High or Low? (p. 191). 8
Oct. 12 Derivatives and Foreign Exchange
CASE: Long Term Capital Management (p. 222). 9-10
Oct. 19 Economics of Financial Intermediaries. Banks.
CASE: The Rogue Trader, Nick Leeson (p. 308). How does it compare with the Amaranth Losses? 11-12
Oct. 26 Mid-Term, covering Chapters 1-12
Nov. 2 Financial Industry Structure. Hedge Funds, Private Equity, Venture Capital. Regulating the Financial System.
CASE: Deposit Insurance Ceilings (p. 360). 13-14
Nov. 9 Central banking in the USA (Federal Reserve) and Europe.
CASE: The Evolution of Federal Reserve Independence (p. 412). 15-16
Nov. 16 The Central Bank Balance Sheet. Monetary Policy and Interest Rates.
CASE: The Fed Response on 9/11/01 (p. 439). 17-18
Nov. 30 Exchange-Rate Policy. Money Growth.
CASE: The Gold Standard – Should You Buy Gold Today? (pp. 504,507). 19-20
Dec. 7 Modern Monetary Policy. Understanding Business Cycles. Monetary Policy in the Short Run
CASE: Stagflation in the 1970s (p. 634). 21-22-23
Dec. 14 Final Exam, covering Chapters 1-23 Oct. 5 Stocks and Market Efficiency (Prof. Hormozi) CASE: Are Stock Market Prices Too High or Low? (p. 191). 8 Oct. 12 Derivatives and Foreign Exchange CASE: Long Term Capital Management (p. 222). 9-10 Oct. 19 Economics of Financial Intermediaries. Banks. CASE: The Rogue Trader, Nick Leeson (p. 308). How does it compare with the Amaranth Losses? 11-12 Nov. 2 Financial Industry Structure. Hedge Funds, Private Equity, Venture Capital. Regulating the Financial System. CASE: Deposit Insurance Ceilings (p. 360). 13-14 Nov. 9 Central banking in the USA (Federal Reserve) and Europe. CASE: The Evolution of Federal Reserve Independence (p. 412). 15-16 Nov. 16 The Central Bank Balance Sheet. Monetary Policy and Interest Rates. CASE: The Fed Response on 9/11/01 (p. 439). 17-18 Nov. 30 Exchange-Rate Policy. Money Growth. CASE: The Gold Standard – Should You Buy Gold Today? (pp. 504,507). 19-20 Dec. 7 Modern Monetary Policy. Understanding Business Cycles. Monetary Policy in the Short Run CASE: Stagflation in the 1970s (p. 634). 21-22-23 |
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