This month i am attending a central banking seminar

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This month I am attending a central banking seminar at the Federal Reserve Bank of New York on January 12 and 13, so the workload will be light those days and I will not have office hours those mornings. On January 19, our chat room will be used for a demonstration during a workshop on technology in education sponsored by the Institute
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Econ 350 Winter 2011 syllabus 2 for Student-Centered Learning. We will demonstrate how the virtual classroom works to workshop attendees, but besides that everything will be the same that day. To analyze and model the role of money in an economy, we will create our own electronic currency, ClassCash. ClassCash can be used to buy items auctioned on-line, to bid on research topics, to reward class participation, to buy and sell bonds, and for other uses that will be determined throughout the semester. In order to provide a market for ClassCash , each of you will be required to participate in the online bond markets during the semester. ClassCash accounts will be kept in an online ledger. The person with the most ClassCash at the end of the semester will receive fifty dollars in real money. Throughout the term we will explore the following issues: What is money? What is the role of money? How does it affect the macroeconomy? What is the history of money and banking? How does the financial system operate? How did this current crisis come about? What are the causes and effects of the recent credit crisis? Who is to blame? What is capital and why is it important? What is the function and structure of the U.S. banking system? Who gains and who loses from the U.S. banking system? Why is the Federal Reserve Board (and Ben Bernanke) so important? What is monetary policy and how does it work? What economic models can be used to explain monetary policy? What is the future of money and banking? What are the proposals for financial reform? Will mergers lead to an increase in the concentration and centralization of capital? Can community development through local financial institutions succeed? How can I get rich from all of this? How does this apply to the community and the university? How can we make the world a better place? This winter term we will focus on three issues for student projects: financial institutions involved in the recent credit crisis, banking and poverty, and the political economy of financial reform. Online class presentations will give you the opportunity to share the results of your research with others in your group, rather than just having the professor being the only one to read your work, and to learn from the work of other students. Your first report is due on the first Friday, January 7. READINGS The following books are required for the course: Frederic S. Mishkin, The Economics of Money, Banking, and Financial Markets , ninth edition, Pearson Addison Wesley Kenneth Spong, Banking Regulation: Its Purposes, Implementation, and Effects , fifth edition Board of Governors of the Federal Reserve System, The Federal Reserve System: Purposes & Functions , eighth edition Federal Reserve Bank of Philadelphia, A Day in the Life of the FOMC
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