Contribution of the course to the overall degree programme goals
The course is part of the set of applied topics, which complete the knowledge and competences of an economist. It investigates money markets and monetary policies, which determine the economic outcomes, both in the financial sector and in the real economy, in a global context.
The knowledge of Monetary Economics and Finance is crucial for any future economist who intends to play a key role in firms or institutions, or for any specialization field in economics, as envisaged by the most popular master courses. The complexity of the money markets and financial markets, including monetary policies, makes it necessary a deep knowledge of institutions and of the technical tools, also quantitative, to analyze also the real effects of monetary variables.
Expected learning outcomes
Intended learning outcomes in terms of:
The course will provide the students with a comprehensive understanding of money and financial markets, demand and supply of money and financial instruments.
To gain insight of important fields such as monetary policies, price stability and financial crisis .
To learn about properties of different financial instruments .
To learn about the impact of monetary policy
2. Applied Skills
Students will become familiar with the concepts of money markets, financial markets and stock markets
Students will know how to read the appropriate related data in international publications (such as the European Central Bank, the OECD)
Students will know how money markets, financial and insurance markets operate and their effects
3. Critical thinking
Students will be required to discuss the pros and cons of the different financial market models also in relation to historical events (crisis)
Students will discuss the data on money markets and stock market
Students will know how to compare the different financial market policies and market regulation
After having learned what money is and what its functions are. At the end of the course you will be able to understand the main monetary policies, including "quantitative easing" (QE) and other economic stabilization maneuvers. You will become familiar with the subject which, besides being extremely current, is always evolving, both in the payment instruments and in the policies implemented by the Central Banks. In fact, you will be able to read and understand institutional policy reports and the economic effects of different monetary measures, as well as the reasons behind government decisions.
You will also be able to learn in depth the reasons for the recent economic crisis and the connections with past ones.
Macroeconomics is not mandatory but strongly recommended, as it allows a better understanding of the markets. However, the exam can be taken having passed the Microeconomics's exam.
PART I: INTRODUCTION
Why Study Money, Banking, and Financial Markets?
An Overview of the Financial System
What Is Money?
Why do we have saving?
PART II: FINANCIAL MARKETS (Introduction)
The Meaning and Behaviour of Interest Rates
The Risk and Term Structure of Interest Rates
PART III: FINANCIAL INSTITUTIONS
PART IV: CENTRAL BANKING AND THE CONDUCT OF MONETARY POLICY
Central Banks and the Federal Reserve System (ECB)
The Money Supply Process
Tools of Monetary Policy
Monetary Policy: Strategy and Tactics
PART VI: MONETARY THEORY
Main theories of Quantity, Inflation, and the Demand for Money
The Monetary Policy and Aggregate Demand Curves
Aggregate Demand and Supply Analysis
Monetary Policy Theory
The Role of Expectations in Monetary Policy
Transmission Mechanisms of Monetary Policy
1. Financial Crises in Emerging Market Economies
2. The ISLM Model
3. Nonbank Finance
4. Financial Derivatives
5. Conflicts of Interest in the Financial Services Industry
Money, Banking and Financial Markets, 6th Edition, Stephen Cecchetti and Kermit Schoenholtz
"Economics of Money, Banking and Financial Markets", 12th Edition By Frederic S. Mishkin (older editions could be used, check on moodle for more recent topics)
Written Test , possibly also homeworks. The exam will have a first part with short and quick questions and a second part with more complex questions
- lectures based on the professor's slides, plus group discussions on specific topics
Slides of the teacher available in the moodle platform of the course
Type of exam
2030 Agenda for Sustainable Development Goals
This subject deals with topics related to the macro-area "Human capital, health, education" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development
Ca' Foscari University of Venice, as part of its institutional aims and in fulfillment of the obligations set forth in article 13 of the EU Regulation 2016/679 ("Regulation"), gives you information regarding the processing of personal data collected by cookies and/or similar technologies when you visit the www.unive.it website (“Website”). Cookies are small pieces of information that a website sends to the user’s device where it is automatically stored and then sent back to the same website or to a third party every time that the website is visited using the same device.
In this notice, the term “cookie” will mean cookies as defined above as well as any other similar tracking technology used in the Website.
1. Data Controller
The data controller is Ca' Foscari University of Venice, with headquarters in Dorsoduro n. 3246, 30123 Venice (VE), legally represented by the Rector pro tempore.
2. Data Protection Officer
The University has appointed a "Data Protection Officer" ("DPO"), who can be contacted by writing to the email address: email@example.com or to the following address: Ca' Foscari University, Venice, Data Protection Officer, Dorsoduro n. 3246, 30123 Venice (VE).
3. Types of cookies, data collect, purposes and legal basis
The cookies used on the website are (please refer to the cookie list for specific information on each cookie):
essential cookies: cookies that are necessary to support the login system and the access to the “Personal Area” of the Website as well as to remember users’ cookie preferences. Personal data associated with these cookie is: user’s IP address, date and time of the visit, means of data transfer, requested resource, response, response size in byte, link connected to the user requesting the resource, user’s operating system, browser and device used. The legal basis for this processing activity is represented by art. 6.1.b) (“performance of a service asked by the data subject”) and art. 6.1.e) of the Regulation (“execution of a task of public interest or connected to the exercise of public powers''). Being the University is a public body and it is required to have a website where the users can find useful information on its activities (artt. 53 e 54 D.lgs. n. 82/2005). Is not possible to disable these cookies through the banner, as this action will have a negative effect on your navigation of the Website.
analytics cookies (firs party): cookies that collect aggregated and statistical data on the navigation of the Website aimed at measuring the number of visits for each page of the Websites as well as the performance and the usability of the Website. The analytics cookies used on the Website are set by the University. Personal data associated with these cookies is: User IP, browser language, average visit time, page actions (downloads, outlinks), first visit, last visit, device used, ecc. The legal basis for this processing activity is represented by art. 6.1.e) of the Regulation (“execution of a task of public interest or connected to the exercise of public powers''), as the University aims at collecting statistical data on the visits of its Website pages especially with regards to the pages of “Amministrazione Trasparente”. Is not possible to disable these cookies through the banner, as this action will have a negative effect on your navigation of the Website.
third party cookies (social media): these cookies are set by third parties that collect the data in order to analyze the navigation and the preferences of the users. On the website, there are cookies set by Google namely Google-Youtube that allow users to watch Youtube videos on the Website and the University to measure the performance of its communication campaigns. These cookies are managed by Google and the University only processes anonymous and statistical information collected by them, who act as joint controllers on the basis of the CJEU ruling n. C-210/16 (5 June 2018). The legal basis for this processing activity is represented by art. 6.1.a) of the Regulation (“consent of the data subject''). The first time you land on the Website, a banner pops up asking whether you consent to enable these cookies. If you do not consent or withdraw consent at a later time through the “click here to change your cookie preferences” button, this will have no effect on your navigation.
You can always manage your cookie preferences through the browser setting. If you disable all cookies, please note that some activities on the website will not be possible anymore (i.e. the ones on the pages accessible in the Personal Area). To find out more on how to manage cookies through browser settings, please visit:
The processing of personal data will be carried out by authorized employees (in compliance with Article 29 of the Regulation and art. 2-quaterdecies of D. lgs. 196/2003), with the use of computerized procedures, adopting appropriate technical and organizational measures to protect them from unauthorized or illegal access, destruction, loss of integrity and confidentiality, even if accidental in nature.
5. Data retention
For information on the retention period of each cookie, please refer to the list below.
6. Recipients and categories of recipients of personal data and data transfer outside the European Economic Area
For the purposes set out above, in addition to specifically authorized employees and collaborators of the University, personal data may also be processed by those who execute outsourced activities on behalf of the University in their capacity as data processors (the updated list is available at: https://www.unive.it/pag/36643/).
Personal data collected by third party cookies may be transferred outside the European Economic Area (EEA) in compliance with the provisions of the Regulation.
7. Data subjects rights and how to exercise them
As a data subject, you have the right to obtain from the University, in the cases provided for by the Regulation, the access, the rectification and the erasure of your personal data as well as ask for the limitation of the processing of your personal data or to object to the data processing itself (articles 15 and following of the Regulation). The request can be submitted, without any particular formal procedures, by contacting the Data Protection Officer directly at firstname.lastname@example.org or by sending a communication to the following address: Ca' Foscari University of Venice - Data Protection Officer, Dorsoduro 3246, 30123 Venice. Alternatively, you can contact the Data Controller, by writing a PEC (certified email) to email@example.com.
Data subjects, who believe that the processing of their personal data is in violation of the provisions of the Regulation, have the right to file a complaint with the Data Protection Authority, as provided for by art. 77 of the Regulation, or to take legal action (art. 79 of the Regulation).
Appendix on social media:
In addition to the privacy notice published at: www.unive.it/pag/29567, the University provides you with information on the processing of your personal data collected through its social media pages (Facebook, Instagram). In particular, the University only processes anonymous and statistical information collected by the social media providers, who act as joint controllers on the basis of the CJEU ruling n. C-210/16 (5 June 2018). Moreover, the University informs you that when you leave a comment or a post on its social media pages, it will process your data only to administer your request/comment.
Last updated: 27/07/2022
List of cookies
Last update of the list of cookies: 22/12/2022
They maintain the session data of the SingleSignOn.