Financial system

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Overview of the Course

An Overview of the Financial System
Money and payment system
Understanding Interest Rates
Central Banking and the Conduct of
Monetary Policy
•  Depository Institutions: Banks and Bank
•  The foreign exchange
Finance and Money


Why Study Money, Banking, and
Financial Markets?

Why Study Financial Markets?
-  Financial markets are markets in which funds are
transferred from people and firms who have an
excess of available funds to people and firms who
have a need of funds.
-  Financial markets affect personal wealth, behavior of
businesses and consumers, promote economic

Finance and Money


Why Study Banking and Financial Intermediaries?
•  Financial Intermediaries: institutions that borrow funds
from people who have saved and make loans to other
–  Banks: accept deposits and make loans
–  Other Financial Institutions: insurance companies,
finance companies, pension funds, mutual funds
and investment companies
•  Financial Intermediaries helps move funds from
savers to borrowers.
•  Financial Innovation: the development of new financial
products and services can be an important force for
good by making the financial system more efficient.
Finance and Money


Why Study Money and Monetary Policy?
•  Evidence suggests that money plays an important role
in generating business cycles
•  Recessions (unemployment) and expansions affect all
of us
•  Monetary Theory ties changes in the money supply to
changes in aggregate economic activity and the price

Finance and Money


Figure 1: Money Growth and the Business Cycle
in the United States, 1950–2011

Finance and Money


Figure 2: Aggregate Price Level and the Money
Supply in the United States, 1950–2011

•  20%: Average of all the end of chapter Quizzes
–  Multiple choice questions (group evaluating)
–  The maximum group members are 4

•  20%: 15-minute Presentation (group evaluating)
•  60%: One Final Exam
–  Multiple choice questions
–  Short answer

Finance and Money


•  Mishkin, Frederick S. (2010), The
Economics of Money, Banking and
Financial Markets, 9th Edition, Pearson
•  Lloyd B. Thomas (2006), Money, banking
and financial markets, Thomson
•  Miller, Van Hoose (2007 ),Money, banking
and financial markets, Thomson

Finance and Money


Chapter 1
An Overview
of the Financial System
(Mishkin: chapter 2)


Chapter Preview
─  Function of Financial Markets
─  Str...
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