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Money and Banking (online)

Department of Economics
Money and Banking (Online)
Spring 2013

COURSE: 50:220:301/90  Money and Banking (3)
Instructor: Ardy Lynn Wurtzel, M.A. (Ph.D. expected 2014)        
Office Hours: By arrangements
E-mail:  ardy.wurtzel@rutgers.edu

Course Summary:

This course will provide an in-depth examination of the money and banking structure within the U.S. economy and covers the U.S.’s historical development of monetary and banking institutions as well as addresses current problems facing monetary management. The historic economic events and financial crises of late 2008 have changed the entire landscape of money and banking, not just in the U.S., but globally.  By employing an analytical framework to traditional money and banking models, this course provides students with knowledge on theories of money and their applications a rich array of current, real-world events.

Teaching Methods:

The class will consist of textbook readings and quizzes on what you have read, online lectures, computational and analytical homework exercises, examinations, and will require participation in online discussion forums on a weekly basis. These activities will depend largely on completion of assigned readings from the textbook (detailed below). PREREQUISITES: 50:220:102 or 50:220:103

For each week of the course, you are expected to have read the material to be covered that week.  Online education is dependent largely on self-directed, independent mastery of textbook material.  To help ensure that this takes place, a weekly online quiz pertaining to the week’s reading is assigned.  (I sense a collective groan!)  However, it is not that bad:

  • Each quiz is open-book, and each of the 10 multiple choice and true/false questions are taken from right out of reading.
  • As the quizzes are graded (10% of your final grade), reading the material and then finding the answers to the quiz questions is an easy way to earn 10% towards getting a good grade in this course!
  • Recognizing that an unforeseen work, family, or other life issue may interfere with your reading for a given week, I will eliminate your lowest quiz grade.  However, there will be no make-up quizzes, and no quizzes will be accepted late.

Quizzes must be submitted by Sunday at midnight for each week’s reading assignment.  Once you begin the quiz you will have 15 minutes in which you must complete it.

Required Textbook:

  • Frederic S. Mishkin, Economics of Money, Banking, and Financial Markets,  (10th Edition), Pearson Series in Economics, 2012, ISBN-10: 0132770245.

Optional (but recommended)

Supplemental Readings:

From time-to-time, I will assign readings in relevant articles either from scholarly sources such as The American Economic Journal, or topical articles in mass market publications like The Economist, The Wall Street Journal, etc.  For Web articles, you will be provided a link; for other articles you will be able to access them via our course site.

Some of these readings will be assigned in conjunction with a discussion thread; others will be standalone readings.  There is no need to memorize what is in them but you should read them as they are intended to enhance your knowledge about entertainment marketing (and general questions may show up on the exam that you should have no trouble answering if you have read the article.)

Format: online

Online lecture will be in the form of PowerPoint slides augmented by explanatory notes and voice-over examples, anecdotes, and insights.  Some of the lecture material won’t be found in the text, so you are urged to ask questions and engage in the discussion forums.

Discussion Forums:

Learning is enhanced when students work together and do not rely completely on the instructor for answers and direction.  Everyone has something to add and I hope you will try to help each other.

Accordingly, the lecture for most weeks will be supplemented by an instructor-initiated online discussion thread, i.e., Money & Banking in the Economy Forum. Some of these threads will directly relate to the concepts covered in the week’s reading, while others will be about major economic policy debates, current economic crises/events, etc. I expect you to make a substantive post for each discussion topic, as well as a substantive response to a classmate’s post.  A substantive post/response meets the following criteria:

Relevance: relates to, or expands on, the main theme of the discussion topic (is it on point)

Quality of Expression: generates learning within the community; demonstrates knowledge and insight; understanding of material from the text; thoughtful; support points with reasons, logic and examples (how much does it move the discussion forward).

Delivery: Clear, grammatically correct, complete sentences with rare misspellings; postings done in the required timeframe (how well do you say it) .

You can expect me to access the discussion forum weekly to review the class posts.  I may post if I think it would be helpful, for instance, if I think students are proceeding in the wrong direction, but generally these topics are for you to help and engage each other by sharing ideas, examples, resources and experiences, as well as to have a little fun.  In addition to the topic I will provide each week, there will be a second forum (Q & A Forum) where you can directly post questions regarding the week’s learning concepts.  I will answer each of those questions. Unlike the Money & Banking in the EconomyForum, you are not required to post a question nor respond to classmates in the Q & A Forum, but your input is welcomed.

Topics are available Monday morning, and discussions close at midnight Sunday. You most post/respond at least once Monday-Thursday, and at least once Thursday-Sunday.  (This is so that everyone does not wait until Sunday to post, thus inhibiting class interaction.) 

Your participation will be graded based on how well your discussion forum posts meet the relevance, quality of expression, and delivery criteria.  Participation grades will be assessed after every few weeks of posts.  The following chart represents the grading rubric I will apply for the threaded discussion entries:


Unsatisfactory To Needs Work (0-1 Point)

Satisfactory To Good (2-3 Points)

Very Good To Excellent (4-5 Points)


Posts do not contain enough reference back to the original topic; posts don’t address the issue at hand sufficiently; posts lack originality (just paraphrases the text or what peers have posted.)

Posts are on-topic, relevant, and contain original content.

Post comprehensively addresses the topic; adds value to the discussion; contributions to discussion are stimulating; introduces and generates discussion of a related issue. 

Quality of expression

Posts do not elicit reflections from and/or build on ideas of others; show little evidence of knowledge and understanding of course content; lacks examples.

Posts elicit reflections from and/or build on ideas of others; show evidence of knowledge and understanding of course content; occasional examples.

Posts in-depth, incisive reflections; demonstrates critical thinking; shares real-world experiences and examples; offers different perspective on what’s being discussed.


Posts incomplete sentences and/or occasional grammar or spelling errors.

Posts complete sentences and rarely have grammar or spelling errors.

Very well-written posts within required timeframe. No grammar or spelling errors.

Total Possible Points: 10 points each assignment (cumulative, 10% of final course grade)

Homework Assignments:

The homework assignments are a learning process, enabling students to learn and understand the material before examinations arise. Homework will be assigned weekly (or bi-weekly) and will be based upon reading and lecture material presented that week. The assignments will be multiple choice or mini-short answer format and will be completed online (see our course site). I will not accept late homeworks – no excuses. Obviously, there are always personal issues we all face from time to time. If you have a personal issue interfere with completing homework assignments, I expect you to notify me via email.  (Homework assignments will compose 10% of your final grade for this course).

Evaluation Procedures:

In addition to the weekly quizzes, there will be two midterms and a final cumulative exam (3 exams total) on material covered during the course. The exams will consist of a mix of objective and short answer problems and will test for understanding and application of the course concepts rather than recall.  Accordingly, you are urged to ask questions for understanding and engage in online discussions.  Please see the exam weights for your final course grade composition below:

Final course grade calculation: Overall course points will be calculated as follows.



Weekly Quizzes


Weekly Homework Assignments


Discussion Forum Participation


Midterm Exam #1


Midterm Exam #2


Final Exam (cumulative)


Total Grade Possible


Grading scale: letter grades assigned as follows.

100%-94%     A

87%-84%      B

77%-74%       C

67%-64%      D

93%-90%       A-

83%-80%      B-

73%-70%       C-

63%-60%      D-

89%-87%       B+

79%-77%      C+

69%-67%       D+

59%-0%        F

Library Resources:

Rest assured that you have the same level of library support services as on-campus students.  You can borrow any of the vast collection of books and other materials housed by the Rutgers Library system.  In addition, you can remotely access the extensive online resources available.

Theodora Haynes (856) 225-2838 Haynes@camden.rutgers.edu, a Business research librarian at Rutgers–Camden is available to assist you in accessing the Library’s resources. 

Academic Integrity:

Academic freedom is a fundamental right in any institution of higher learning. Honesty and integrity are necessary preconditions of this freedom. Academic integrity requires that all academic work be wholly the product of an identified individual or individuals. Joint efforts are legitimate only when the assistance of others is explicitly acknowledged. Ethical conduct is the obligation of every member of the university community, and breaches of academic integrity constitute serious offenses. 

The School of Business Camden policy on academic integrity is based on the university’s Code of Student Conduct, as outlined in the university-wide academic policies and procedures, which may be found in its entirety online at http://academicintegrity.rutgers.edu/academic-integrity-policy/

As needed, we will use the Turn-it-in system to check written work for plagiarism against a vast database of previously submitted work, the entire Internet, and the full text library databases. Even if the system finds a match between some portion of your paper and another source, it is not necessarily plagiarism provided that it is appropriately cited. If you are unsure how to appropriately cite others’ work, please consult any APA guide. Rutgers University librarians will be happy to help you locate such a guide. 

Students whose work is found to be plagiarized will receive, at a minimum, a zero on the assignment, and possibly an F for the course. University procedures regarding violations of the honor code will be followed. Feel free to post questions regarding the above in the Virtual Office.