Courses Catalogue

Monetary Economics

COURSE CODE: ECO3102
COURSE CREDIT UNIT: 0
ACADEMIC PROGRAMME: Education (Economics) - B.Ed
COLLEGE/SCHOOL/FACULTY: College of Education, Open and Distance Learning
STATUS: Elective
PROGRAMME TYPE: Undergraduate

Course Content and Outline

Course Content

Introduction (7 hours)

  • Definition, functions and qualities money
  • Evolution of money
  • Evaluation of monetary standards: the Pros and Cons of a monetary economy

Money demand and supply (8 hours)

  • Definition of money demand and supply
  • Measurement and determinants of money supply
  • Determinants of money demand
  • Theories of money demand and supply

Financial markets (8 hours)

  • Definition of financial markets
  • Types of markets
  • Financial markets Instruments
  • Organized and unorganized markets in LDCs

Financial intermediaries (7 hours)

  • Definition of financial intermediaries
  • Contrasting Banking and none banking financial intermediaries
  • Banking financial intermediaries
  • Commercial banks and credit creation
  • Determinants and Limitations of credit creation theory
  • Central banks, functions and roles
  • Monetary policy, tools and limitations

Theories of money demand and supply (8 hours)

  • The Quantity theory, the Keynesian transaction demand for money, The Baumol-Tobin model and the monetarists’ views.
  • The Hansen Hicksian IS-LM Analysis, including Equilibrium analysis, and the classical Vs Keynesian analysis.

International Monetary issues (7 hours)

  • Foreign exchange rates- determination and fluctuations, effects and remedies.
  • BOP and terms of trade
  • Inflation and interest rate

Teaching and Learning Methods

·         Interactive Lectures

·         Reading Assignments

·         Group Discussions

·         Field Trips

·         Guided Discovery

·         Documentaries

Students’ Learning Activities

  • Group Work
  • Classroom Presentations
  • Assignments