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2022/3/30 上午2:14Syllabus for ECO349H1 S LEC5101 20221:Money, Banking and Financial Markets
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Course Syllabus
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**Preliminary** Course Syllabus (Dated: January 9, 2022)
Money, Banking and Financial Markets
ECO349H1-S LEC5101
Department of Economics
University of Toronto – St. George
Winter 2022
Class times and location: Thursdays 18:00-21:00, Room RW 117
Note: Classes will be held online synchronously until February 24. Classes may also take
place online beyond this date as circumstances evolve. Check the Quercus course page
regularly for updates and announcements.
Instructor: Chris D’Souza
Contact Information:
Email: Use the Quercus Inbox to communicate with me outside of class and office hours
Office Hours: Thursdays 17:00-18:00 (i.e., before class), Online or Room RW 110 (once in-person
classes begin)
Contact Hours and Course Organisation: Classes and office hours will usually take place in-
person (online until January 27 and when required). Lectures will usually last two hours each
week. Normally, the third hour of the scheduled class will be used to work through textbook
questions, assist with the organization of groups for assignments and to conduct quizzes.
Office hours will be used to address questions from students about lecture content, textbook
material, and assignments.
Until January 31 , and when necessary, classes will be held online synchronously via Zoom
meetings if COVID-19 restrictions prevent in-person classes. Zoom meeting links will be
posted in Quercus. Students must have access to reliable high-speed internet and a
dependable laptop or desktop computer (PC or Mac) to attend these online classes.
st
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dependable laptop or desktop computer (PC or Mac) to attend these online classes.
Recordings will not normally be available.
Zoom meeting links will be posted in Quercus. Students must create an official UofT Zoom
account using their UTORid and password at https://utoronto.zoom.us. Logging in with an
unofficial account will leave you stranded in the waiting room.
Communication
I will use the Quercus course website to post announcements, required and optional readings,
and other course-related content.
Please use the Quercus Inbox Application to communicate with me. I will do my best to answer
your questions within 72 hours.
You may also post questions about course content in the Quercus Discussions board.
Student interaction and group discussion may be organised through Quercus Discussions, and
during in-person office hours before class.
Quercus Discussion boards will be used to address students’ course-related questions. The
Discussions board allow you to ask and answer questions about course material and discuss
course topics more generally. The board is a platform for you to engage with your classmates,
practice your skills, test your knowledge, and learn with your classmates. I will monitor the
Discussions, but it is primarily for student-to-student interaction like an online study group, and not
a substitute for online office hours.
Course Description and Learning Outcomes: This course explores a wide range of topics
involving money, financial markets, financial institutions, and the links between the financial sector,
the ‘real’ economy, and the central bank. We also examine the importance of financial markets,
banks, and other financial institutions in the economy, and how information asymmetries and
regulation have shaped their evolution.
Topics surveyed include the role of money and the financial system in promoting economic
welfare, the behaviour of bond and stock market prices and investment returns, the role of
commercial banks in the economy, the regulation of financial institutions and the tools of central
banks. This course also studies the role of the central bank in the economy, which includes the
use of monetary policy to mitigate financial market instability and to promote economic growth.
Furthermore, given the high degree of global financial market integration, we also investigate the
links between Canada’s financial system and the international financial system, in part through
exchange rate movements.
Learning Outcomes:
Gain a better understanding of the Canadian banking sector, financial markets and their
interaction with the broader economy
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Increase familiarity with how financial markets, such as bond and stock markets, operate, and
learn how they may promote economic efficiency
Advance your understanding of the role of the central bank and how monetary policy can
influence growth and fluctuations in the economy
Learn about the functions of money, why and how it promotes economic efficiency, and
discover how its form has evolved over time
Gain a better understanding of how changes in interest rates affect consumers, businesses,
financial institutions, and the overall economy
Understand how foreign exchange markets operate and why exchange rates are important,
and the main factors that affect exchange rates in the long run
Advance your understanding of how financial systems around the world contributed to the
decade-old global financial crisis and great recession
Improve competence working with economic and financial market data
Apply course concepts to real-world and hypothetical economic shocks and conduct economic
research and analysis
Interpret the economic and finance literature and provide policy recommendations
Communicate effectively through written reports, oral presentations and discussion
Tools for Developing Learning Outcomes:
The course employs both mathematical models and an analytical framework to understand the
economics of money, banking and financial markets. The theory of informational economics,
principal-agent theory, moral hazard and adverse selection will be used to understand the
functioning of financial institutions and financial markets. The theoretical links between the
financial sector and the real sector of the economy will be examined to get an understanding how
banks and financial markets contribute to economic growth and business cycles. The course will
discuss monetary theory, the functions and roles of the central bank, to gain an understanding of
the interactions between the central bank and financial institutions. There will also be opportunities
for in-class and office hour discussions regarding current developments in financial markets, the
Bank of Canada and Federal Reserve interest rate announcements, regulatory changes for banks
and financial markets, and personal finance topics.
Prerequisites: Prerequisites are strictly checked and enforced and must be completed before
taking a course. By taking this course you acknowledge that you will be removed from the course
at any time if you do not meet all requirements set by the Department of Economics. The most
recent prerequisite information is available in the Academic Calendar. Note: prerequisites for
various courses have changed, so don’t assume that the information in last year’s syllabus can be
re-used.
Course Materials:
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Required Textbook: The Economics of Money, Banking, and Financial Markets, 7 Canadian
Edition, Frederic Mishkin, Apostolos Serlitis. Pearson Publishers
(https://www.pearson.com/store/p/the-economics-of-money-banking-and-financial-markets-seventh-
canadian-edition/P100002580569) . The eText will be used extensively during the course. Online
academic and policy papers will also be assigned as required or optional readings. Students can
purchase an access code from the bookstore
(https://www.campusebookstore.com/integration/AccessCodes/default.aspx?bookseller_id=96) . The
access code and the Pearson Course ID: dsouza54759 will be required to register
(https://mlm.pearson.com/northamerica/students/get-registered/index.html) as a Student and access
the eText.
Tip: You are not required to purchase access to MyLab Economics for this course, but it may
be helpful. The site contains practice questions and various study aids. Once you register
(https://mlm.pearson.com/northamerica/students/get-registered/index.html) as a Student at
Pearson, you can get temporary or trail access (without payment) to the MyLab Economics
website. See “Waiting for Financial Aid” at the bottom of the “Select an Option” when
registering.
Each week, we will cover one or two chapters from the eText. You are expected to complete the
required readings, watch any uploaded videos and complete quizzes and assessments by their
due dates. You will have an opportunity to ask questions during the virtual office hours.
Week 1: Chapter 1 - Why Study Money, Banking, and Financial Markets? (Incl. Appendix);
Chapter 2 - An Overview of the Financial System
Week 2: Chapter 3 - What is Money? Chapter 4 - The Meaning of Interest Rates
Week 3: Chapter 5 - The Behaviour of Interest Rates
Week 4: Chapter 6 - The Risk and Term Structure of Interest Rates
Week 5: Chapter 7 - The Stock Market, Rational Expectations, Efficient Market Hypothesis
Week 6: Chapter 8 - An Economic Analysis of Financial Structure; Chapter 11 - Financial
Crises; Contingent Capital (https://www.bankofcanada.ca/wp-content/uploads/2011/12/fsr-1210-
dsouza.pdf) (Bank of Canada Financial Stability Report)
Week 7: Chapter 14 - Central Banks and the Bank of Canada; Money Creation in the Modern
Economy (https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-
creation-in-the-modern-economy.pdf) (Bank of England Quarterly Bulletin)
Week 8: Chapter 16 - Tools of Monetary Policy
th
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Week 8: Chapter 16 - Tools of Monetary Policy
Week 9: Chapter 17 - The Conduct of Monetary Policy: Strategy and Tactics
Week 10: Chapter 18 - The Foreign Exchange Market; Dornbusch's Exchange Rate
Overshooting Model (https://www.imf.org/external/pubs/ft/wp/2002/wp0239.pdf) (IMF)
Week 11: Major Group Assignment Presentations
Week 12: Course review
Along with the eText readings, I will post my lecture slides, lecture recordings (during the first two
weeks of class) and other required reading material, including journal articles and working papers,
on the Quercus course portal. Please visit this site regularly for recent postings and
announcements.
Evaluation and Grading Scheme:
The final grade in the course will be determined as follows:
1. Bi-Weekly Quizzes worth 2.5% each (5 Quizzes; Only the top four (4) quizzes will count):
10% of total course grade
Quizzes will be posted online on the Quercus course page during the last half-hour of class
(20:30-21:00 ET). Students will have about 20 minutes to complete the quiz.
Questions will be based on the required readings recently posted on Quercus.
Quizzes cannot be completed past the due date and time.
There will be no extensions for any reason.
A student’s lowest quiz score or any one missed quiz will be excluded in the calculation of the
final grade.
2. Two ‘Small’ Group Assignments: 30% of total course grade
Students will be randomly assigned to groups of 4 or 5 students but may choose to
work together in groups of their own choosing.
Each group must have at least three and at most five members.
Any changes in groups must be reported using the Quercus Assignments tool by the
students that have moved groups.
Groups may work together using the group discussion boards built into Quercus.
Assignment details and rubrics will be posted on Quercus.
Assignments must be submitted through the Quercus course portal.
3. ‘Major’ Group Assignment: 25% of total course grade
The group assignment will require students to write a paper. Each student will be expected to
write at least one section of the paper (or about 1500 words).
Each group must have at least three and at most five members.
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Each group must have at least three and at most five members.
Assignment details and an extensive rubric will be posted on Quercus.
Students will need to create their own groups using the Quercus Assignments tool.
Each group must submit their assignment through the Quercus course portal.
Optional group presentations will offer students an opportunity to gain feedback before
submission.
4. Final Exam: 35% of total course grade – Date to be announced
The exam will be scheduled by the Faculty of Arts and Science on a date during the official
exam period.
The exam will be based on required readings from the eText, class lectures, class discussion,
and course slides.
There will be multiple-choice, short- and long-answer questions.
Short- and long-answer questions will assess students’ knowledge, application, comprehension
skills and critical thinking skills.
The course involves multiple group assignments. For example, the final ‘Major’ group
assignment asks students to write a policy paper based on their research and analysis and
provide a monetary policy recommendation (e.g., considering a large adverse shock to the
domestic and global economy). To complete the assignments, students may communicate with
their group members via the group Discussions board built in the Quercus course page. See
https://qstudents.utoronto.ca/group-tool-the-student-side-of-things/
(https://qstudents.utoronto.ca/group-tool-the-student-side-of-things/)
Online Submissions of Group Assignments: All groups must submit their assignments on-line
through the Quercus course portal. It is every student’s responsibility to ensure that their online
submission is submitted successfully by the due date. Accommodations will not be made for
unsuccessful submissions due to, but not limited to: i) the system timing out; ii) submitting the
incorrect document(s); and iii) poor internet connection / no internet connection etc.
Late Group Assignment Submissions: There will be a 10% penalty of the total group
assignment mark per day (including weekends) for a late assignment. If a group anticipates
missing the assignment deadline due to uncontrollable circumstances and requires an extension
of time, they should request this at least 5 business days in advance of the due date. Students
may be required to submit supporting documentation at my discretion. The reallocation of grades
for assignments missed for legitimate reasons will be made at my discretion. Group assignments
handed in after the work has been returned to the class cannot be marked for credit.
Accommodations due to late registration into the course will not be approved. Computer viruses,
crashed hard drives, broken printers, lost or corrupted files, incompatible file formats, faulty
internet, battery problems, and similar mishaps are common issues when using technology, and
are not acceptable grounds for a deadline extension. It is every student’s responsibility to ensure
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are not acceptable grounds for a deadline extension. It is every student’s responsibility to ensure
that their online submission is submitted successfully by the due date. Accommodations will not be
made for unsuccessful submissions due to, but not limited to, i) the system timing out, ii)
submitting the incorrect document(s), iii) poor internet connection / no internet connection etc.
Assignment Writing Resources:
1. All undergraduate students taking courses in the Faculty of Arts and Science are eligible to
work with the writing centre at the college or campus where they are registered. For
information about writing centre appointments visit https://writing.utoronto.ca/writing-
centres/arts-and-science/ (https://writing.utoronto.ca/writing-centres/arts-and-science/) .
2. To learn more about how writing centres work, students may visit
http://writing.utoronto.ca/writing-centres/learning/ (http://writing.utoronto.ca/writing-
centres/learning/) .
3. More than 60 Advice files on all aspects of academic writing are available from
http://advice.writing.utoronto.ca. Printable PDF versions are listed at
http://advice.writing.utoronto.ca/student-pdfs/ (http://advice.writing.utoronto.ca/student-
pdfs/) .
4. Students should read "How Not to Plagiarize" and other advice on documentation format and
methods of integrating sources. These pages are all listed at
http://advice.writing.utoronto.ca/using-sources/ (http://advice.writing.utoronto.ca/using-
sources/) .
Missed Quizzes: Students who miss a quiz or assignment due date because of circumstances
beyond their control (e.g., illness or an accident) can request that the Department grant them
special consideration. The following steps must be completed in order to be considered for
academic accommodation for any missed quiz or assignment:
1. Your absence must be declared on ACORN on the day of the missed quiz / due date, or by the
day after, at the latest.
2. You must notify me by within one week of the missed quiz / deadline.
3. The University is temporarily suspending the need for a doctor’s note or medical certificate for
any absence from academic participation if you are experiencing COVID-19 symptoms.
However, this policy may change at any point during the course. If you missed your quiz for a
reason connected to your registered disability, the Department will accept documentation
supplied by Accessibility Services.
4. Consult the Office of the Registrar should your absence be lengthy or affect multiple courses.
The written explanation and documentation that you submit represents an appeal from you,
requesting the opportunity to account for that portion of your grade in some other manner. If an
appeal is not received, or if the appeal is deemed unacceptable, you will receive a grade of zero
for the item you missed. If the appeal is granted – that is, your reason for missing the item is
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for the item you missed. If the appeal is granted – that is, your reason for missing the item is
considered acceptable by the instructor, then the student will be given another opportunity to write
the test or provided with a new assignment due date.
Note that it is your responsibility to ensure that your email account is working. Claims that a
Departmental decision was not received will NOT be considered as a reason for further
consideration. Note that holidays and pre-purchased plane tickets, family plans, your friend’s
wedding, lack of preparation, or too many other tests/assignments are not acceptable excuses for
missing a quiz, a test or an item of term work.
Students CANNOT petition to re-write a quiz once the test has begun. If you are feeling ill, please
do not start the online test, seek medical attention immediately, and the policy on Missed Term
Work will apply.
Regrade Request of Group Assignments may be granted. Student groups must provide via the
Quercus Inbox, and with specificity, questions or concerns with the grading. Please be advised
that the marker will re-read & re-mark the whole test. Also note that your group’s mark may go up,
down or remain the same. If you are not satisfied with a re-evaluation, you may appeal to the
instructor in charge of the course if the instructor did not mark the work. If your work is remarked,
you must accept the resulting mark. You may only appeal a mark beyond the instructor if the term
work was worth at least 25% of the course mark.
Technology: Expectations and Requirements
To complete this course, additional requirements – beyond the basics of having your TCard (your
U of T Student ID card), a handheld calculator, paper, pencils, and erasers – may include:
Reliable and regular access to a laptop/desktop that has a working microphone; A cell phone is
NOT sufficient; A tablet is NOT required for this course
You may also need reliable and regular access to high-speed internet; See the University’s
Recommended Technology Requirements for Remote/Online Learning
(https://www.viceprovoststudents.utoronto.ca/covid-19/tech-requirements-online-learning/) for more
details
Being proactive to avoid technical and other difficulties, which includes submitting well before
deadlines, maintaining your devices, carefully reading all assessment instructions, and
contacting me immediately with any problems
Ability to correctly convert local Toronto time to your time zone: we will not accept confusion
about deadlines (which will be given in local Toronto time) as an excuse for lateness or missed
work
Having a current installation of Excel and Word software, which is available at no cost to
current U of T students
Ensuring that you maintain regular backup copies of your files, use antivirus software, and
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Ensuring that you maintain regular backup copies of your files, use antivirus software, and
schedule enough time when completing an assessment to allow for delays due to technical
difficulties.
NOTE: Computer viruses, crashed hard drives, lost or corrupted files, incompatible file formats,
faulty internet, and similar mishaps are common issues when using technology, and are not
acceptable grounds for a deadline extension.
Plagiarism Detection Tool: Normally, students will be required to submit their course essays to
the University’s plagiarism detection tool for a review of textual similarity and detection of possible
plagiarism. In doing so, students will allow their essays to be included as source documents in the
tool’s reference database, where they will be used solely for the purpose of detecting plagiarism.
The terms that apply to the University’s use of this tool are described on the Centre for Teaching
Support & Innovation web site (https://uoft.me/pdt-faq (https://uoft.me/pdt-faq) ).
Students and/or groups must inform me at the start of the course if they choose to opt out of
Plagiarism Detection. If a student or group opts-out, they will be required to submit all of the
following as an alternative to using the University’s plagiarism detection tool to check for
plagiarism:
An annotated bibliography
All their rough work
Call numbers and/or web site addresses of all sources cited.
Student Conduct: It is your responsibility as a student at the University of Toronto to familiarize
yourself with, and adhere to, The Code of Student Conduct
(https://governingcouncil.utoronto.ca/secretariat/policies/code-student-conduct-february-14-2002) ,
which is a University policy that sets out expectations for student behavior, and prescribes
processes for dealing with prohibited behaviour.
The Student’s Companion to the Student Code of Conduct
(http://www.viceprovoststudents.utoronto.ca/wp-content/uploads/The-Students-Companion-to-the-
Student-Code-of-Conduct.pdf) is a set of frequently asked questions and the responses about the
Code of Student Conduct. It aims to simplify and clarify Code usage for the University’s community
members.
Privacy and Use of Course Materials: If necessary, due to COVID-19 health and safety
restrictions, classes may be held online via Zoom meetings. Zoom meeting recordings may
then be posted in Quercus. In these circum-stances:
This course, including your participation, will be recorded on video and will be available to
stu-dents in the course for viewing remotely and after each session. Course videos and
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stu-dents in the course for viewing remotely and after each session. Course videos and
materials belong to your instructor, the University, and/or other sources depending on the
specific facts of each situation, and are protected by copyright. Do not download, copy, or
share any course or student materials or videos without the explicit permission of the
instructor. For questions about recording and use of videos in which you appear please
contact your instructor.
Netiquette: What is netiquette? Netiquette is the code of conduct that is expected in an
online environment that is similar to what they expect in the classroom.
Adhere to the same standards as you would in the classroom. For example, respect
your peers. Use proper and respectful language and refrain from any insults, threats or
bad jokes. You make think you are being funny by the minor insults, but you are not. Not
everyone will have your same sense of humor.
Be forgiving of mistakes. Do not point out insignificant errors of other students in front
of the whole class. It’s counterproductive and interrupts the flow of discussion.
It is advised to mute your microphone during lecture. Background noises are
distracting to everyone including how hard you type on your keyboard. Believe it or not,
it makes more noise than you think.
When your professor asks a question please use the chat function to que your answer.
This also applies if you have to ask a question. Use the chat function and your
professor will answer the questions in the order they appear. Be patient. There will be
delays and your instructor and/or your peers needs a few moments to read.
Before you hit the enter key to send messages through the chat function please re-read
your response or question carefully and check for errors. Please note it is okay to make
minor errors so long as you are understood.
Be clear and concise but do not using texting language. Full sentences please. Note:
It’s okay to use emoji’s but do not overdo it.
Be mindful of internet language, e.g. the interpretation of all cap letters is that you are
shouting.
Do not dominate the discussion. Give other students the opportunity to join in the
discussion and present their ideas.
Be positive. Do not start “flame wars” (emotionally-charged opinions) and intervene if
you see this happening in a positive matter. Challenge the idea and not the student
directly. Remember the purpose of a discussion is to increase your knowledge base.
Do not make fun of someone’s ability to read, write or speak. Remember we are all here
to learn in a supportive environment.
Avoid using slang and/or vernacular language. UofT is a very diverse community and
this could possibly lead to misinterpretation, especially in the chat function.
If someone posts information that you think may have been posted accidentally, let
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If someone posts information that you think may have been posted accidentally, let
them know about it privately. Do not spread the accidental post to your peers.
Remember we all make mistakes.
Academic Integrity is essential to the pursuit of learning and scholarship in a university, and to
ensuring that a degree from the University is a strong signal of each student’s individual academic
achievement. As a result, the University treats cases of cheating and plagiarism very seriously.
The University of Toronto’s Code of Behaviour on Academic Matters
(https://governingcouncil.utoronto.ca/sites/default/files/2020-
03/Code%20of%20Behaviour%20on%20Academic%20Matters%20July%201%202019.pdf) outlines
behaviours that constitute academic dishonesty and the process for addressing academic
offences. Potential offences include, but are not limited to:
In papers and assignments:
Using someone else’s ideas or words without appropriate acknowledgement.
Submitting your own work in more than one course without the permission of the instructor.
Making up sources or facts.
Obtaining or providing unauthorized assistance on any assignment.
On quizzes and exams:
Using or possessing unauthorized aids.
Looking at someone else’s answers during an exam or test.
Misrepresenting your identity.
In academic work:
Falsifying institutional documents or grades.
Falsifying or altering any documentation required, including (but not limited to) doctor’s notes.
With regard to remote learning, the University wishes to remind students that they are expected to
adhere to the Code of Behaviour on Academic Matters
(https://governingcouncil.utoronto.ca/sites/default/files/2020-
03/Code%20of%20Behaviour%20on%20Academic%20Matters%20July%201%202019.pdf) regardless of
the course delivery method. By offering students the opportunity to learn remotely, the University
expects that students will maintain the same academic honesty and integrity that they would in a
classroom setting. Potential academic offences in a digital context include, but are not limited to:
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Remote assessments:
Accessing unauthorized resources (search engines, chat rooms, Reddit, etc.) for assessments.
Using technological aids (e.g. software) beyond what is listed as permitted in an assessment.
Posting test, essay, or exam questions to message boards or social media.
Creating, accessing, and sharing assessment questions and answers in virtual “course
groups.”
Working collaboratively, in-person or online, with others on assessments that are expected to
be completed individually.
All suspected cases of academic dishonesty will be investigated following procedures outlined in
the Code of Behaviour on Academic Matters
(https://governingcouncil.utoronto.ca/sites/default/files/2020-
03/Code%20of%20Behaviour%20on%20Academic%20Matters%20July%201%202019.pdf) . If you have
questions or concerns about what constitutes appropriate academic behaviour or appropriate
research and citation methods, you are expected to seek out additional information on academic
integrity from your instructor or from other institutional resources
(https://www.utm.utoronto.ca/academic-integrity/resources/students) .
Honesty and fairness are considered fundamental to the university's mission, and, as a result, all
those who violate those principles are dealt with as if they were damaging the integrity of the
university itself. When students are suspected of cheating or a similar academic offence, they are
typically surprised at how formally and seriously the matter is dealt with -- and how severe the
consequences can be if it is determined that cheating did occur. The University of Toronto treats
cases of cheating and plagiarism very seriously.
Examples of offences for which you will be penalized include (but are not limited to):
Using any unauthorized aids on an exam or test (e.g., "cheat sheets," cell phones, electronic
devices, etc.)
Representing someone else's work or words as your own -- plagiarism
Falsifying documents or grades
Purchasing an essay or term paper
Submitting someone else's work as your own
Submitting the same essay or term paper in more than one course (without permission)
Looking at someone else's answers during an exam or test
Impersonating another person at an exam or test or having someone else impersonate you
Making up sources or facts for an essay or report.
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Course Summary:
Date Details Due
Thu Jan 20, 2022 !
Quiz 1
(https://q.utoronto.ca/courses/253409/assignments/787192) due by 9pm
Thu Feb 3, 2022 ! Quiz 2 due by 9pm
As a student it is your responsibility to ensure the integrity of your work and to understand what
constitutes an academic offence. If you have any concerns that you may be crossing the line,
always ask your instructor. Your instructor can explain, for example, the nuances of plagiarism and
how to use secondary sources appropriately; he or she will also tell you what kinds of aids --
calculators, dictionaries, etc. -- are permitted in a test or exam. Ignorance of the rules does not
excuse cheating or plagiarism.
Students are required to adhere to policies set out by the University of Toronto
(http://www.governingcouncil.utoronto.ca/policies.htm) . By taking this course you acknowledge
these policies, including the Code of Student Conduct
(http://www.governingcouncil.utoronto.ca/Assets/Governing+Council+Digital+Assets/Policies/PDF/ppjun011995.pdf)
, the Code of Behaviour on Academic Matters
(https://governingcouncil.utoronto.ca/sites/default/files/2020-
03/Code%20of%20Behaviour%20on%20Academic%20Matters%20July%201%202019.pdf) , and the
course policies set out in this course syllabus. It is your responsibility as a student at the University
of Toronto to familiarize yourself with, and adhere to, these policies. This means, first and
foremost, that you should read them carefully.
Another helpful document that you should read is How Not to Plagiarize
(http://www.writing.utoronto.ca/advice/using-sources/how-not-to-plagiarize) , by M. Procter.
Accessibility: For accessibility services/accommodation, please see:
http://www.studentlife.utoronto.ca/as (http://www.studentlife.utoronto.ca/as)
Resources to help you at the UofT are listed at the Academic Success Centre:
https://www.studentlife.utoronto.ca/asc (https://www.studentlife.utoronto.ca/asc)
For course-related issues, please get in touch with me and your College Registrar. For longer-run
issues or issues outside our course please contact your College Registrar
http://www.artsci.utoronto.ca/newstudents/nextsteps/contact
(http://www.artsci.utoronto.ca/newstudents/nextsteps/contact)
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(https://q.utoronto.ca/courses/253409/assignments/787193)
Thu Feb 10, 2022 !
Small Group Assignment #1
(https://q.utoronto.ca/courses/253409/assignments/787201) due by 6pm
Thu Feb 17, 2022 !
Quiz 3
(https://q.utoronto.ca/courses/253409/assignments/787194) due by 9pm
Thu Mar 10, 2022 !
Quiz 4
(https://q.utoronto.ca/courses/253409/assignments/787196) due by 9pm
Thu Mar 17, 2022
! Small Group Assignment #2:
Determine the properties of yield
curves
(https://q.utoronto.ca/courses/253409/assignments/787202)
due by 6pm
Mon Mar 21, 2022
! Deadline: Organisation of
Major Assignment Groups and
Submission into Quercus
(https://q.utoronto.ca/courses/253409/assignments/787200)
due by 11:59pm
Thu Mar 24, 2022 !
Quiz 5
(https://q.utoronto.ca/courses/253409/assignments/787195) due by 9pm
Thu Mar 31, 2022
! (Optional) Major Group
Assignment Presentations
(https://q.utoronto.ca/courses/253409/assignments/787199)
due by 3pm
Thu Apr 7, 2022
! Major Group Assignment -
Central bank policies for an
economic recovery, a new
financial shock, and persistently
high inflation
(https://q.utoronto.ca/courses/253409/assignments/787198)
due by 6pm
! Final Exam
(https://q.utoronto.ca/courses/253409/assignments/787197)
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Course Syllabus
Jump to Today
**Preliminary** Course Syllabus (Dated: January 9, 2022)
Money, Banking and Financial Markets
ECO349H1-S LEC5101
Department of Economics
University of Toronto – St. George
Winter 2022
Class times and location: Thursdays 18:00-21:00, Room RW 117
Note: Classes will be held online synchronously until February 24. Classes may also take
place online beyond this date as circumstances evolve. Check the Quercus course page
regularly for updates and announcements.
Instructor: Chris D’Souza
Contact Information:
Email: Use the Quercus Inbox to communicate with me outside of class and office hours
Office Hours: Thursdays 17:00-18:00 (i.e., before class), Online or Room RW 110 (once in-person
classes begin)
Contact Hours and Course Organisation: Classes and office hours will usually take place in-
person (online until January 27 and when required). Lectures will usually last two hours each
week. Normally, the third hour of the scheduled class will be used to work through textbook
questions, assist with the organization of groups for assignments and to conduct quizzes.
Office hours will be used to address questions from students about lecture content, textbook
material, and assignments.
Until January 31 , and when necessary, classes will be held online synchronously via Zoom
meetings if COVID-19 restrictions prevent in-person classes. Zoom meeting links will be
posted in Quercus. Students must have access to reliable high-speed internet and a
dependable laptop or desktop computer (PC or Mac) to attend these online classes.
st
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dependable laptop or desktop computer (PC or Mac) to attend these online classes.
Recordings will not normally be available.
Zoom meeting links will be posted in Quercus. Students must create an official UofT Zoom
account using their UTORid and password at https://utoronto.zoom.us. Logging in with an
unofficial account will leave you stranded in the waiting room.
Communication
I will use the Quercus course website to post announcements, required and optional readings,
and other course-related content.
Please use the Quercus Inbox Application to communicate with me. I will do my best to answer
your questions within 72 hours.
You may also post questions about course content in the Quercus Discussions board.
Student interaction and group discussion may be organised through Quercus Discussions, and
during in-person office hours before class.
Quercus Discussion boards will be used to address students’ course-related questions. The
Discussions board allow you to ask and answer questions about course material and discuss
course topics more generally. The board is a platform for you to engage with your classmates,
practice your skills, test your knowledge, and learn with your classmates. I will monitor the
Discussions, but it is primarily for student-to-student interaction like an online study group, and not
a substitute for online office hours.
Course Description and Learning Outcomes: This course explores a wide range of topics
involving money, financial markets, financial institutions, and the links between the financial sector,
the ‘real’ economy, and the central bank. We also examine the importance of financial markets,
banks, and other financial institutions in the economy, and how information asymmetries and
regulation have shaped their evolution.
Topics surveyed include the role of money and the financial system in promoting economic
welfare, the behaviour of bond and stock market prices and investment returns, the role of
commercial banks in the economy, the regulation of financial institutions and the tools of central
banks. This course also studies the role of the central bank in the economy, which includes the
use of monetary policy to mitigate financial market instability and to promote economic growth.
Furthermore, given the high degree of global financial market integration, we also investigate the
links between Canada’s financial system and the international financial system, in part through
exchange rate movements.
Learning Outcomes:
Gain a better understanding of the Canadian banking sector, financial markets and their
interaction with the broader economy
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Increase familiarity with how financial markets, such as bond and stock markets, operate, and
learn how they may promote economic efficiency
Advance your understanding of the role of the central bank and how monetary policy can
influence growth and fluctuations in the economy
Learn about the functions of money, why and how it promotes economic efficiency, and
discover how its form has evolved over time
Gain a better understanding of how changes in interest rates affect consumers, businesses,
financial institutions, and the overall economy
Understand how foreign exchange markets operate and why exchange rates are important,
and the main factors that affect exchange rates in the long run
Advance your understanding of how financial systems around the world contributed to the
decade-old global financial crisis and great recession
Improve competence working with economic and financial market data
Apply course concepts to real-world and hypothetical economic shocks and conduct economic
research and analysis
Interpret the economic and finance literature and provide policy recommendations
Communicate effectively through written reports, oral presentations and discussion
Tools for Developing Learning Outcomes:
The course employs both mathematical models and an analytical framework to understand the
economics of money, banking and financial markets. The theory of informational economics,
principal-agent theory, moral hazard and adverse selection will be used to understand the
functioning of financial institutions and financial markets. The theoretical links between the
financial sector and the real sector of the economy will be examined to get an understanding how
banks and financial markets contribute to economic growth and business cycles. The course will
discuss monetary theory, the functions and roles of the central bank, to gain an understanding of
the interactions between the central bank and financial institutions. There will also be opportunities
for in-class and office hour discussions regarding current developments in financial markets, the
Bank of Canada and Federal Reserve interest rate announcements, regulatory changes for banks
and financial markets, and personal finance topics.
Prerequisites: Prerequisites are strictly checked and enforced and must be completed before
taking a course. By taking this course you acknowledge that you will be removed from the course
at any time if you do not meet all requirements set by the Department of Economics. The most
recent prerequisite information is available in the Academic Calendar. Note: prerequisites for
various courses have changed, so don’t assume that the information in last year’s syllabus can be
re-used.
Course Materials:
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Required Textbook: The Economics of Money, Banking, and Financial Markets, 7 Canadian
Edition, Frederic Mishkin, Apostolos Serlitis. Pearson Publishers
(https://www.pearson.com/store/p/the-economics-of-money-banking-and-financial-markets-seventh-
canadian-edition/P100002580569) . The eText will be used extensively during the course. Online
academic and policy papers will also be assigned as required or optional readings. Students can
purchase an access code from the bookstore
(https://www.campusebookstore.com/integration/AccessCodes/default.aspx?bookseller_id=96) . The
access code and the Pearson Course ID: dsouza54759 will be required to register
(https://mlm.pearson.com/northamerica/students/get-registered/index.html) as a Student and access
the eText.
Tip: You are not required to purchase access to MyLab Economics for this course, but it may
be helpful. The site contains practice questions and various study aids. Once you register
(https://mlm.pearson.com/northamerica/students/get-registered/index.html) as a Student at
Pearson, you can get temporary or trail access (without payment) to the MyLab Economics
website. See “Waiting for Financial Aid” at the bottom of the “Select an Option” when
registering.
Each week, we will cover one or two chapters from the eText. You are expected to complete the
required readings, watch any uploaded videos and complete quizzes and assessments by their
due dates. You will have an opportunity to ask questions during the virtual office hours.
Week 1: Chapter 1 - Why Study Money, Banking, and Financial Markets? (Incl. Appendix);
Chapter 2 - An Overview of the Financial System
Week 2: Chapter 3 - What is Money? Chapter 4 - The Meaning of Interest Rates
Week 3: Chapter 5 - The Behaviour of Interest Rates
Week 4: Chapter 6 - The Risk and Term Structure of Interest Rates
Week 5: Chapter 7 - The Stock Market, Rational Expectations, Efficient Market Hypothesis
Week 6: Chapter 8 - An Economic Analysis of Financial Structure; Chapter 11 - Financial
Crises; Contingent Capital (https://www.bankofcanada.ca/wp-content/uploads/2011/12/fsr-1210-
dsouza.pdf) (Bank of Canada Financial Stability Report)
Week 7: Chapter 14 - Central Banks and the Bank of Canada; Money Creation in the Modern
Economy (https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-
creation-in-the-modern-economy.pdf) (Bank of England Quarterly Bulletin)
Week 8: Chapter 16 - Tools of Monetary Policy
th
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Week 8: Chapter 16 - Tools of Monetary Policy
Week 9: Chapter 17 - The Conduct of Monetary Policy: Strategy and Tactics
Week 10: Chapter 18 - The Foreign Exchange Market; Dornbusch's Exchange Rate
Overshooting Model (https://www.imf.org/external/pubs/ft/wp/2002/wp0239.pdf) (IMF)
Week 11: Major Group Assignment Presentations
Week 12: Course review
Along with the eText readings, I will post my lecture slides, lecture recordings (during the first two
weeks of class) and other required reading material, including journal articles and working papers,
on the Quercus course portal. Please visit this site regularly for recent postings and
announcements.
Evaluation and Grading Scheme:
The final grade in the course will be determined as follows:
1. Bi-Weekly Quizzes worth 2.5% each (5 Quizzes; Only the top four (4) quizzes will count):
10% of total course grade
Quizzes will be posted online on the Quercus course page during the last half-hour of class
(20:30-21:00 ET). Students will have about 20 minutes to complete the quiz.
Questions will be based on the required readings recently posted on Quercus.
Quizzes cannot be completed past the due date and time.
There will be no extensions for any reason.
A student’s lowest quiz score or any one missed quiz will be excluded in the calculation of the
final grade.
2. Two ‘Small’ Group Assignments: 30% of total course grade
Students will be randomly assigned to groups of 4 or 5 students but may choose to
work together in groups of their own choosing.
Each group must have at least three and at most five members.
Any changes in groups must be reported using the Quercus Assignments tool by the
students that have moved groups.
Groups may work together using the group discussion boards built into Quercus.
Assignment details and rubrics will be posted on Quercus.
Assignments must be submitted through the Quercus course portal.
3. ‘Major’ Group Assignment: 25% of total course grade
The group assignment will require students to write a paper. Each student will be expected to
write at least one section of the paper (or about 1500 words).
Each group must have at least three and at most five members.
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Each group must have at least three and at most five members.
Assignment details and an extensive rubric will be posted on Quercus.
Students will need to create their own groups using the Quercus Assignments tool.
Each group must submit their assignment through the Quercus course portal.
Optional group presentations will offer students an opportunity to gain feedback before
submission.
4. Final Exam: 35% of total course grade – Date to be announced
The exam will be scheduled by the Faculty of Arts and Science on a date during the official
exam period.
The exam will be based on required readings from the eText, class lectures, class discussion,
and course slides.
There will be multiple-choice, short- and long-answer questions.
Short- and long-answer questions will assess students’ knowledge, application, comprehension
skills and critical thinking skills.
The course involves multiple group assignments. For example, the final ‘Major’ group
assignment asks students to write a policy paper based on their research and analysis and
provide a monetary policy recommendation (e.g., considering a large adverse shock to the
domestic and global economy). To complete the assignments, students may communicate with
their group members via the group Discussions board built in the Quercus course page. See
https://qstudents.utoronto.ca/group-tool-the-student-side-of-things/
(https://qstudents.utoronto.ca/group-tool-the-student-side-of-things/)
Online Submissions of Group Assignments: All groups must submit their assignments on-line
through the Quercus course portal. It is every student’s responsibility to ensure that their online
submission is submitted successfully by the due date. Accommodations will not be made for
unsuccessful submissions due to, but not limited to: i) the system timing out; ii) submitting the
incorrect document(s); and iii) poor internet connection / no internet connection etc.
Late Group Assignment Submissions: There will be a 10% penalty of the total group
assignment mark per day (including weekends) for a late assignment. If a group anticipates
missing the assignment deadline due to uncontrollable circumstances and requires an extension
of time, they should request this at least 5 business days in advance of the due date. Students
may be required to submit supporting documentation at my discretion. The reallocation of grades
for assignments missed for legitimate reasons will be made at my discretion. Group assignments
handed in after the work has been returned to the class cannot be marked for credit.
Accommodations due to late registration into the course will not be approved. Computer viruses,
crashed hard drives, broken printers, lost or corrupted files, incompatible file formats, faulty
internet, battery problems, and similar mishaps are common issues when using technology, and
are not acceptable grounds for a deadline extension. It is every student’s responsibility to ensure
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are not acceptable grounds for a deadline extension. It is every student’s responsibility to ensure
that their online submission is submitted successfully by the due date. Accommodations will not be
made for unsuccessful submissions due to, but not limited to, i) the system timing out, ii)
submitting the incorrect document(s), iii) poor internet connection / no internet connection etc.
Assignment Writing Resources:
1. All undergraduate students taking courses in the Faculty of Arts and Science are eligible to
work with the writing centre at the college or campus where they are registered. For
information about writing centre appointments visit https://writing.utoronto.ca/writing-
centres/arts-and-science/ (https://writing.utoronto.ca/writing-centres/arts-and-science/) .
2. To learn more about how writing centres work, students may visit
http://writing.utoronto.ca/writing-centres/learning/ (http://writing.utoronto.ca/writing-
centres/learning/) .
3. More than 60 Advice files on all aspects of academic writing are available from
http://advice.writing.utoronto.ca. Printable PDF versions are listed at
http://advice.writing.utoronto.ca/student-pdfs/ (http://advice.writing.utoronto.ca/student-
pdfs/) .
4. Students should read "How Not to Plagiarize" and other advice on documentation format and
methods of integrating sources. These pages are all listed at
http://advice.writing.utoronto.ca/using-sources/ (http://advice.writing.utoronto.ca/using-
sources/) .
Missed Quizzes: Students who miss a quiz or assignment due date because of circumstances
beyond their control (e.g., illness or an accident) can request that the Department grant them
special consideration. The following steps must be completed in order to be considered for
academic accommodation for any missed quiz or assignment:
1. Your absence must be declared on ACORN on the day of the missed quiz / due date, or by the
day after, at the latest.
2. You must notify me by within one week of the missed quiz / deadline.
3. The University is temporarily suspending the need for a doctor’s note or medical certificate for
any absence from academic participation if you are experiencing COVID-19 symptoms.
However, this policy may change at any point during the course. If you missed your quiz for a
reason connected to your registered disability, the Department will accept documentation
supplied by Accessibility Services.
4. Consult the Office of the Registrar should your absence be lengthy or affect multiple courses.
The written explanation and documentation that you submit represents an appeal from you,
requesting the opportunity to account for that portion of your grade in some other manner. If an
appeal is not received, or if the appeal is deemed unacceptable, you will receive a grade of zero
for the item you missed. If the appeal is granted – that is, your reason for missing the item is
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for the item you missed. If the appeal is granted – that is, your reason for missing the item is
considered acceptable by the instructor, then the student will be given another opportunity to write
the test or provided with a new assignment due date.
Note that it is your responsibility to ensure that your email account is working. Claims that a
Departmental decision was not received will NOT be considered as a reason for further
consideration. Note that holidays and pre-purchased plane tickets, family plans, your friend’s
wedding, lack of preparation, or too many other tests/assignments are not acceptable excuses for
missing a quiz, a test or an item of term work.
Students CANNOT petition to re-write a quiz once the test has begun. If you are feeling ill, please
do not start the online test, seek medical attention immediately, and the policy on Missed Term
Work will apply.
Regrade Request of Group Assignments may be granted. Student groups must provide via the
Quercus Inbox, and with specificity, questions or concerns with the grading. Please be advised
that the marker will re-read & re-mark the whole test. Also note that your group’s mark may go up,
down or remain the same. If you are not satisfied with a re-evaluation, you may appeal to the
instructor in charge of the course if the instructor did not mark the work. If your work is remarked,
you must accept the resulting mark. You may only appeal a mark beyond the instructor if the term
work was worth at least 25% of the course mark.
Technology: Expectations and Requirements
To complete this course, additional requirements – beyond the basics of having your TCard (your
U of T Student ID card), a handheld calculator, paper, pencils, and erasers – may include:
Reliable and regular access to a laptop/desktop that has a working microphone; A cell phone is
NOT sufficient; A tablet is NOT required for this course
You may also need reliable and regular access to high-speed internet; See the University’s
Recommended Technology Requirements for Remote/Online Learning
(https://www.viceprovoststudents.utoronto.ca/covid-19/tech-requirements-online-learning/) for more
details
Being proactive to avoid technical and other difficulties, which includes submitting well before
deadlines, maintaining your devices, carefully reading all assessment instructions, and
contacting me immediately with any problems
Ability to correctly convert local Toronto time to your time zone: we will not accept confusion
about deadlines (which will be given in local Toronto time) as an excuse for lateness or missed
work
Having a current installation of Excel and Word software, which is available at no cost to
current U of T students
Ensuring that you maintain regular backup copies of your files, use antivirus software, and
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Ensuring that you maintain regular backup copies of your files, use antivirus software, and
schedule enough time when completing an assessment to allow for delays due to technical
difficulties.
NOTE: Computer viruses, crashed hard drives, lost or corrupted files, incompatible file formats,
faulty internet, and similar mishaps are common issues when using technology, and are not
acceptable grounds for a deadline extension.
Plagiarism Detection Tool: Normally, students will be required to submit their course essays to
the University’s plagiarism detection tool for a review of textual similarity and detection of possible
plagiarism. In doing so, students will allow their essays to be included as source documents in the
tool’s reference database, where they will be used solely for the purpose of detecting plagiarism.
The terms that apply to the University’s use of this tool are described on the Centre for Teaching
Support & Innovation web site (https://uoft.me/pdt-faq (https://uoft.me/pdt-faq) ).
Students and/or groups must inform me at the start of the course if they choose to opt out of
Plagiarism Detection. If a student or group opts-out, they will be required to submit all of the
following as an alternative to using the University’s plagiarism detection tool to check for
plagiarism:
An annotated bibliography
All their rough work
Call numbers and/or web site addresses of all sources cited.
Student Conduct: It is your responsibility as a student at the University of Toronto to familiarize
yourself with, and adhere to, The Code of Student Conduct
(https://governingcouncil.utoronto.ca/secretariat/policies/code-student-conduct-february-14-2002) ,
which is a University policy that sets out expectations for student behavior, and prescribes
processes for dealing with prohibited behaviour.
The Student’s Companion to the Student Code of Conduct
(http://www.viceprovoststudents.utoronto.ca/wp-content/uploads/The-Students-Companion-to-the-
Student-Code-of-Conduct.pdf) is a set of frequently asked questions and the responses about the
Code of Student Conduct. It aims to simplify and clarify Code usage for the University’s community
members.
Privacy and Use of Course Materials: If necessary, due to COVID-19 health and safety
restrictions, classes may be held online via Zoom meetings. Zoom meeting recordings may
then be posted in Quercus. In these circum-stances:
This course, including your participation, will be recorded on video and will be available to
stu-dents in the course for viewing remotely and after each session. Course videos and
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stu-dents in the course for viewing remotely and after each session. Course videos and
materials belong to your instructor, the University, and/or other sources depending on the
specific facts of each situation, and are protected by copyright. Do not download, copy, or
share any course or student materials or videos without the explicit permission of the
instructor. For questions about recording and use of videos in which you appear please
contact your instructor.
Netiquette: What is netiquette? Netiquette is the code of conduct that is expected in an
online environment that is similar to what they expect in the classroom.
Adhere to the same standards as you would in the classroom. For example, respect
your peers. Use proper and respectful language and refrain from any insults, threats or
bad jokes. You make think you are being funny by the minor insults, but you are not. Not
everyone will have your same sense of humor.
Be forgiving of mistakes. Do not point out insignificant errors of other students in front
of the whole class. It’s counterproductive and interrupts the flow of discussion.
It is advised to mute your microphone during lecture. Background noises are
distracting to everyone including how hard you type on your keyboard. Believe it or not,
it makes more noise than you think.
When your professor asks a question please use the chat function to que your answer.
This also applies if you have to ask a question. Use the chat function and your
professor will answer the questions in the order they appear. Be patient. There will be
delays and your instructor and/or your peers needs a few moments to read.
Before you hit the enter key to send messages through the chat function please re-read
your response or question carefully and check for errors. Please note it is okay to make
minor errors so long as you are understood.
Be clear and concise but do not using texting language. Full sentences please. Note:
It’s okay to use emoji’s but do not overdo it.
Be mindful of internet language, e.g. the interpretation of all cap letters is that you are
shouting.
Do not dominate the discussion. Give other students the opportunity to join in the
discussion and present their ideas.
Be positive. Do not start “flame wars” (emotionally-charged opinions) and intervene if
you see this happening in a positive matter. Challenge the idea and not the student
directly. Remember the purpose of a discussion is to increase your knowledge base.
Do not make fun of someone’s ability to read, write or speak. Remember we are all here
to learn in a supportive environment.
Avoid using slang and/or vernacular language. UofT is a very diverse community and
this could possibly lead to misinterpretation, especially in the chat function.
If someone posts information that you think may have been posted accidentally, let
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If someone posts information that you think may have been posted accidentally, let
them know about it privately. Do not spread the accidental post to your peers.
Remember we all make mistakes.
Academic Integrity is essential to the pursuit of learning and scholarship in a university, and to
ensuring that a degree from the University is a strong signal of each student’s individual academic
achievement. As a result, the University treats cases of cheating and plagiarism very seriously.
The University of Toronto’s Code of Behaviour on Academic Matters
(https://governingcouncil.utoronto.ca/sites/default/files/2020-
03/Code%20of%20Behaviour%20on%20Academic%20Matters%20July%201%202019.pdf) outlines
behaviours that constitute academic dishonesty and the process for addressing academic
offences. Potential offences include, but are not limited to:
In papers and assignments:
Using someone else’s ideas or words without appropriate acknowledgement.
Submitting your own work in more than one course without the permission of the instructor.
Making up sources or facts.
Obtaining or providing unauthorized assistance on any assignment.
On quizzes and exams:
Using or possessing unauthorized aids.
Looking at someone else’s answers during an exam or test.
Misrepresenting your identity.
In academic work:
Falsifying institutional documents or grades.
Falsifying or altering any documentation required, including (but not limited to) doctor’s notes.
With regard to remote learning, the University wishes to remind students that they are expected to
adhere to the Code of Behaviour on Academic Matters
(https://governingcouncil.utoronto.ca/sites/default/files/2020-
03/Code%20of%20Behaviour%20on%20Academic%20Matters%20July%201%202019.pdf) regardless of
the course delivery method. By offering students the opportunity to learn remotely, the University
expects that students will maintain the same academic honesty and integrity that they would in a
classroom setting. Potential academic offences in a digital context include, but are not limited to:
2022/3/30 上午2:14Syllabus for ECO349H1 S LEC5101 20221:Money, Banking and Financial Markets
⻚码：12/14https://q.utoronto.ca/courses/253409/assignments/syllabus
Remote assessments:
Accessing unauthorized resources (search engines, chat rooms, Reddit, etc.) for assessments.
Using technological aids (e.g. software) beyond what is listed as permitted in an assessment.
Posting test, essay, or exam questions to message boards or social media.
Creating, accessing, and sharing assessment questions and answers in virtual “course
groups.”
Working collaboratively, in-person or online, with others on assessments that are expected to
be completed individually.
All suspected cases of academic dishonesty will be investigated following procedures outlined in
the Code of Behaviour on Academic Matters
(https://governingcouncil.utoronto.ca/sites/default/files/2020-
03/Code%20of%20Behaviour%20on%20Academic%20Matters%20July%201%202019.pdf) . If you have
questions or concerns about what constitutes appropriate academic behaviour or appropriate
research and citation methods, you are expected to seek out additional information on academic
integrity from your instructor or from other institutional resources
(https://www.utm.utoronto.ca/academic-integrity/resources/students) .
Honesty and fairness are considered fundamental to the university's mission, and, as a result, all
those who violate those principles are dealt with as if they were damaging the integrity of the
university itself. When students are suspected of cheating or a similar academic offence, they are
typically surprised at how formally and seriously the matter is dealt with -- and how severe the
consequences can be if it is determined that cheating did occur. The University of Toronto treats
cases of cheating and plagiarism very seriously.
Examples of offences for which you will be penalized include (but are not limited to):
Using any unauthorized aids on an exam or test (e.g., "cheat sheets," cell phones, electronic
devices, etc.)
Representing someone else's work or words as your own -- plagiarism
Falsifying documents or grades
Purchasing an essay or term paper
Submitting someone else's work as your own
Submitting the same essay or term paper in more than one course (without permission)
Looking at someone else's answers during an exam or test
Impersonating another person at an exam or test or having someone else impersonate you
Making up sources or facts for an essay or report.
2022/3/30 上午2:14Syllabus for ECO349H1 S LEC5101 20221:Money, Banking and Financial Markets
⻚码：13/14https://q.utoronto.ca/courses/253409/assignments/syllabus
Course Summary:
Date Details Due
Thu Jan 20, 2022 !
Quiz 1
(https://q.utoronto.ca/courses/253409/assignments/787192) due by 9pm
Thu Feb 3, 2022 ! Quiz 2 due by 9pm
As a student it is your responsibility to ensure the integrity of your work and to understand what
constitutes an academic offence. If you have any concerns that you may be crossing the line,
always ask your instructor. Your instructor can explain, for example, the nuances of plagiarism and
how to use secondary sources appropriately; he or she will also tell you what kinds of aids --
calculators, dictionaries, etc. -- are permitted in a test or exam. Ignorance of the rules does not
excuse cheating or plagiarism.
Students are required to adhere to policies set out by the University of Toronto
(http://www.governingcouncil.utoronto.ca/policies.htm) . By taking this course you acknowledge
these policies, including the Code of Student Conduct
(http://www.governingcouncil.utoronto.ca/Assets/Governing+Council+Digital+Assets/Policies/PDF/ppjun011995.pdf)
, the Code of Behaviour on Academic Matters
(https://governingcouncil.utoronto.ca/sites/default/files/2020-
03/Code%20of%20Behaviour%20on%20Academic%20Matters%20July%201%202019.pdf) , and the
course policies set out in this course syllabus. It is your responsibility as a student at the University
of Toronto to familiarize yourself with, and adhere to, these policies. This means, first and
foremost, that you should read them carefully.
Another helpful document that you should read is How Not to Plagiarize
(http://www.writing.utoronto.ca/advice/using-sources/how-not-to-plagiarize) , by M. Procter.
Accessibility: For accessibility services/accommodation, please see:
http://www.studentlife.utoronto.ca/as (http://www.studentlife.utoronto.ca/as)
Resources to help you at the UofT are listed at the Academic Success Centre:
https://www.studentlife.utoronto.ca/asc (https://www.studentlife.utoronto.ca/asc)
For course-related issues, please get in touch with me and your College Registrar. For longer-run
issues or issues outside our course please contact your College Registrar
http://www.artsci.utoronto.ca/newstudents/nextsteps/contact
(http://www.artsci.utoronto.ca/newstudents/nextsteps/contact)
2022/3/30 上午2:14Syllabus for ECO349H1 S LEC5101 20221:Money, Banking and Financial Markets
⻚码：14/14https://q.utoronto.ca/courses/253409/assignments/syllabus
(https://q.utoronto.ca/courses/253409/assignments/787193)
Thu Feb 10, 2022 !
Small Group Assignment #1
(https://q.utoronto.ca/courses/253409/assignments/787201) due by 6pm
Thu Feb 17, 2022 !
Quiz 3
(https://q.utoronto.ca/courses/253409/assignments/787194) due by 9pm
Thu Mar 10, 2022 !
Quiz 4
(https://q.utoronto.ca/courses/253409/assignments/787196) due by 9pm
Thu Mar 17, 2022
! Small Group Assignment #2:
Determine the properties of yield
curves
(https://q.utoronto.ca/courses/253409/assignments/787202)
due by 6pm
Mon Mar 21, 2022
! Deadline: Organisation of
Major Assignment Groups and
Submission into Quercus
(https://q.utoronto.ca/courses/253409/assignments/787200)
due by 11:59pm
Thu Mar 24, 2022 !
Quiz 5
(https://q.utoronto.ca/courses/253409/assignments/787195) due by 9pm
Thu Mar 31, 2022
! (Optional) Major Group
Assignment Presentations
(https://q.utoronto.ca/courses/253409/assignments/787199)
due by 3pm
Thu Apr 7, 2022
! Major Group Assignment -
Central bank policies for an
economic recovery, a new
financial shock, and persistently
high inflation
(https://q.utoronto.ca/courses/253409/assignments/787198)
due by 6pm
! Final Exam
(https://q.utoronto.ca/courses/253409/assignments/787197)
