Introduction to U.S. Financial Markets

General data

Course ID:	4219-SE016
Erasmus code / ISCED:	08.9 Kod klasyfikacyjny przedmiotu składa się z trzech do pięciu cyfr, przy czym trzy pierwsze oznaczają klasyfikację dziedziny wg. Listy kodów dziedzin obowiązującej w programie Socrates/Erasmus, czwarta (dotąd na ogół 0) – ewentualne uszczegółowienie informacji o dyscyplinie, piąta – stopień zaawansowania przedmiotu ustalony na podstawie roku studiów, dla którego przedmiot jest przeznaczony. / (unknown)
Course title:	Introduction to U.S. Financial Markets
Name in Polish:	Introduction to U.S. Financial Markets (Wprowadzenie do amerykańskich rynków finansowych)
Organizational unit:	American Studies Center
Course groups:	all classes - weekday programme - 1st cycle all classes - weekday programme - 1st cycle - 2nd year all classes - weekday programme - 1st cycle - 3rd year Elective courses - social sciences - BA studies elective courses - weekday studies - first cycle
ECTS credit allocation (and other scores):	(not available) Basic information on ECTS credits allocation principles: the annual hourly workload of the student’s work required to achieve the expected learning outcomes for a given stage is 1500-1800h, corresponding to 60 ECTS; the student’s weekly hourly workload is 45 h; 1 ECTS point corresponds to 25-30 hours of student work needed to achieve the assumed learning outcomes; weekly student workload necessary to achieve the assumed learning outcomes allows to obtain 1.5 ECTS; work required to pass the course, which has been assigned 3 ECTS, constitutes 10% of the semester student load. view allocation of credits
Language:	English
Type of course:	elective courses
Mode:	Classroom
Short description:	The course will introduce students to the main features of U.S. financial markets. It will bring to light some of the more significant boom-and-bust events in these markets. Designed for the curious-minded, the course does not require a background in economics, business or finance. All market terms and language will be explained.
Full description:	The course will introduce students to the main features of U.S. financial markets. We will discuss the key institutions, market structures, participants, governmental regula-tors and financial products found in the markets. Additionally, the course will bring to light some of the more significant boom-and-bust events in these markets. It is the goal of the course that students gain an introductory understanding of U.S. financial markets. 1. Nature and evolution of money 2. Fundamentals of the theory of finance. Definition of finance. 3. Special role, status and functions of the modern central bank 4. Banking risks, the mechanism of cash money creation 5. Money market – its functions, its participants. 6. Foreign exchange market, rate of exchange and role of the central bank in the market under various exchange rate regimes 7. Evolution of the theoretical underpinning of monetary policy in the past decades 8. Present-day understanding of the aims of monetary policy. 9. Nature and consequences of the growing public debt, its implications for monetary and financial stability of the economy, as illustrated by the present-day European experience 10. Capital market – its economic role and importance and its functioning under the impact of the latest financial crisis 11. Investment banking and institutional investors. 13. Problems of stabilization of the financial sector in the light of recent experiences
Bibliography:	Essential Reading 1.Samuelson, Nordhaus, Macroeconomics,McGraw-Hill International edition, 2010, pp.169-191; 191-210 346-364 2.P. Krugman, The Return of Depression Economics and the Crisis of 2008. W. Norton & Company, 2009. 3.Eugene N. White, “The Stock Market Boom and Crash of 1929 Revisited.” Journal of Economic Perspectives, Vol. 4, No. 2 (Spring 1990), pp. 67-83 4.W. Bienkowski, Reaganomics Goes Global: What Can the EU, Russia and Transition Countries Learn from the USA?, Palgrave Macmillan, 2006, pp.5-12;44-53 5.O. Blanchard, A. Amighini, F. Giavazzi, Macroeconomics: A European Perspective, Prentice Hall,2010, pp.58-79; 306-324; 416-435; 436-455; 476-516 6.Frederic S Mishkin Stanley Eakins, “Financial Markets and Institutions”, 8th edition or later, Prentice Hall Ch.11-15, 23 7.G.Walton, J. Hughes, History of the American Economy, Cengage Learning, 2009 Recommended Reading 1.Douglass North, “Institutions”, Journal of Economic Perspectives, 5, Winter (1991), pp. 97-112. 2.O. Blanchard, macroeconomics, Prentice Hall, 2006, pp. 65-83; 314-332; 373-389; 533-569 3.Edwin Mansfield, Study Guide for Economics: Principles, Problems, Decisions, Norton&Company, Inc., 1977, pp. 161-197 4.F. Zakaria. The Post-American World: Release 2.0. W. Norton & Company, 2012. 5.T. Taylor. “Thinking about a ‘New Economy,’” The Public Interest, Spring 2001, pp. 3-19 R. Altman. "The Fall and Rise of the West."Foreign Affairs. 3 Feb. 2015. Web. 3 Feb. 2015.
Learning outcomes:	On completion of this module, the student … Knowledge 1.…has knowledge of the historical development of the American economy concentrating on the importance of finance. 2.…has knowledge and understanding in the field of monetary policy principles and the role of the Federal Reserve System. 3.…has knowledge and understanding of the causes of financial crises incl. the crisis of 2008. Skills 1.…should be able to understand and enumerate the diverse tools that could be used to conduct monetary policy. 2.…should be able to evaluate the impact of the monetary and fiscal policy used by the government. 3.…should be able to explain which instruments of the financial policy have been used successfully to overcome crises, using case studies of the 1930s and 2008. Social Competences 1.…is able to formulate his or her own opinion and discuss it with other students and professionals. 2.…is able to present issues to an audience. 3.…should be willing to share his/her knowledge.
Assessment methods and assessment criteria:	Final exam, 50% Mid-term exam – 50%

This course is not currently offered.

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Copyright by University of Warsaw.