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Financial Institutions and Monetary Policy

Unit Code: HBE333N




Duration

Contact Hours

Campus

Prerequisite

Corequisite

One Semester or Term

36 Hours

Hawthorn, Sarawak

 Nil

Credit Points: 12.5 Credit Points

Aims & Objectives:

At the completion of this unit, students will be able to:
  • Provide an elementary description of Australia’s flow of funds, monetary aggregates, debt, equity and derivatives markets
  • Understand how changes in official interest rates are transmitted to activity in the real economy
  • Assess the reasons for the Australian financial system having developed the way it did; and being regulated the way it was and is
  • Compare the real and financial economies and understand their interdependence
  • Contrast the main types of financial institutions and products
  • Calculate the extent to which different economic schools of thought and ideas have shaped our financial system, and at which periods of our history; and correlate past governmental financial policies with the ascendancy of fashionable (and often transitory) economic theories over time
  • Appraise government fiscal and monetary policy. Estimate who wins and who loses from changes in government economic and financial policies

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Teaching Methods:

Lecture/seminars (2 hours), Tutorials (1 hour)
Lecture/seminars will be used to introduce the topics, concepts and theories.
Tutorials will provide a forum for discussion, questions, debate, and demonstrating some of the resources available for the discipline.

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Assessment:

Two Tests (20% each), Final Examination (60%)

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Generic Skills Outcomes:

The graduate attributes which relate to this unit help to produce graduates who are:
  • Capable in their chosen professional, vocational or study areas
  • Entrepreneurial in contributing to innovation and development within their business, workplace or community
  • Effective and ethical in work and community situations
  • Adaptable and able to manage change
  • Aware of local and international environments in which they will be contributing (eg socio-cultural, economic, natural)

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Content:

  • The development, regulation, deregulation and performance of the Australian financial system
  • Correlation with changes in economic ideas and theories from neo-classicism, and Keynesianism through to monetarism and economic rationalism
  • The real and financial economies, flow of funds, monetary aggregates, debt, equity and derivatives markets
  • The main types of financial institutions and products
  • Demand for and supply of money, its creation, velocity and stability
  • The roles of the private and public sectors in relation to the money supply, and macroeconomic stability 
  • Future trends, prospects and performance

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Reading Materials:

Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.

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