Money, Banks & Macroeconomics
Module overview The Money, Banks & Macroeconomics module provides a rigorous discussion of the role of money, banks and other financial institutions in a modern economy. You will study the fragilities in fractional reserve banking, the role of the central bank, and the weaknesses caused by the shadow banking sector. Throughout this short module, you will also explore the causes of historic bank failures and systemic crises, and you will learn the analytical tools used in macroeconomics to understand the role of monetary policy in the macroeconomy. Who would benefit from this module? This module would benefit those working in financial regulation authorities, central banks as well as investment banks and rating agencies as well as those working as Asset Managers and Reserves Managers as well as anyone who is involved in projects requiring due dilligence.
Key benefits ■ Gain a broad understanding of the wider context in which financial institutions operate ■ Learn to use analytical tools from macroeconomics to understand the role of monetary policy in the macroeconomy. ■ Gain a Postgraduate Award upon successful completion.
Faculty This module features insights from Andy Haldane (Chief Economist and Executive Director, Monetary Analysis & Statistics, Bank of England), David Walker (International Association of Deposit Insurers Secretary General), Professor Jean-Charles Rochet (University of Geneva), John Barrdear (Senior Research Economist, Monetary Assessment and Strategy Division, Bank of England), and Riccardo Masalo (Senior Economist, Monetary Analysis Division, Bank of England). Module structure ■ The module lasts for 17 weeks and culminates in an assessment ■ Module materials are organised into 10 lessons – each lasting one week ■ You can expect to spend around 11 hours studying per lesson ■ Lessons include reading materials, video interviews, discussion points, reflection activities ■ There are four wbsLive online sessions with your tutor.
Key topics covered During this module, you will cover the following.
Topics
Stylised facts on financial crises and procyclicality of credit
The three-equation model in the open economy
Importance and size of insurance market
Parity conditions and exchange rate overshooting
Macroeconomic implications and procyclicality
Money, its origins and the source of its value, and Fractional reserve banking Financial system: an overview and its functions in financing and risk-sharing Lender of last resort and rationales for deposit insurance
Financial contagion across the interbank network Amplification of shocks and so systemic risk
The trade balance and the balance of payments constraint Monetary policy making in the three-equation model
Please note that this is not an exhaustive list and we recommend you contact us for a more detailed discussion.
Key info
■ The module will run between February 2022 and June 2022 ■ This module features a two-week induction period prior to starting.
Class profile*
2 Nationalities represented
44 Average age of participants
65/35 % male/ female split
20 Average years’ work experience
*February 2021 Postgraduate Award intake.
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wbs.ac.uk/go/banking
wbs.ac.uk/go/banking
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