econ423courseobjectives8and9

econ423courseobjectives8and9 - Course Objectives Chapters 8...

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Course Objectives Chapters 8 and 9 Econ 423 - Financial Markets Lauren Heller, Summer 2009 Chapter 8: Conduct of Monetary Policy Objectives By the end of this chapter, you should be able to: o Show the effect of a given monetary policy transaction (open market purchases or sales, discount loans, etc.) on the balance sheets of the Federal Reserve system, the banking system, and the nonbank public. o Derive the demand and supply of reserves with respect to the Federal Funds Rate and the level of Nonborrowed reserves, and explain the factors that shift each curve, including changes in open market operations, discount lending, and reserve requirements. o Differentiate between the types of discount loans made by the Fed, as well as between defensive and dynamic open market operations. o Explain the Fed's role as a "Lender of Last Resort", including the benefits and costs of such a policy with respect to bank failures and moral hazard. o Compare and contrast the monetary policy tools of the European Central bank with that of the Federal Reserve System. o
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econ423courseobjectives8and9 - Course Objectives Chapters 8...

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