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University Bulletin
Undergraduate Degree Programs

These course descriptions are not being updated as of August 1, 2016. Current course descriptions are maintained in LionPATH.

Economics (ECON)

ECON 351 Money and Banking (3) Money, credit, commercial and central banking, financial intermediaries, treasury operations, monetary policy. Students who have already taken ECON 451 may not schedule this course.

ECON 351 Money and Banking (3)

(BA) This course meets the Bachelor of Arts degree requirements.

In this course, students learn all about the Federal Reserve (“the Fed”) and the conduct of monetary policy: both conventional and unconventional. Students will examine many different interest rates and learn how they are determined. Students will study the importance of the Federal Reserve’s dual mandate and become familiar with business cycles in the US economy since 1970 and the associated Fed policy during these episodes. Term structures of interest rates are analyzed as well as the risk structure of interest rates. The Taylor Rule and various specifications of the Taylor Rule are applied to these topics. Students also study the efficient market theory and the determination of stock and bond prices. The course finishes by engaging students in the topics of futures, options, and futures options and hedging with futures and options.

The objective of the course is help students get a better understanding of macroeconomic and monetary topics and policy. Upon successful completion of this course, students will be able to contribute to any discussion about the U.S. economy and Federal Reserve policy, analyze real world events as they relate to U.S. monetary policy, and share their newly acquired human capital with others.

The prerequisite for this course is ECON104. Students who have taken ECON451 cannot schedule ECON351.

General Education: None
Diversity: None
Bachelor of Arts: Social and Behavioral Science
Effective: Spring 2016
Prerequisite: ECON 104

Note : Class size, frequency of offering, and evaluation methods will vary by location and instructor. For these details check the specific course syllabus.


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Course descriptions are stored in LionPATH, the University-wide student information system. Please visit the LionPATH Course Catalog to access current course descriptions. At that point, you will be leaving the University Bulletin website.

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