Money & Capital Markets - City University Of New York

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Money & Capital MarketsGraduate Course BUSN 7215Summer Syllabus Instructor’s Information TMName: Prof. Myles BassellMobile Phone:(615) 400 - 5390Email: omOffice Location: 216 Whitehead HallVirtual Office Hours: 24/7 Email / Instant Message / Text Message / Phone Profile: http://www.brooklyn.cuny.edu/pub/Faculty Details5.jsp?faculty 379 l/teachingportfolio Course Website:www.professorbassell.com Suggested Reading Required MaterialsFinancial Markets & InstitutionsBy Mishkin and Eakins7th edition (2012)McGraw-Hill PublishersISBN: 978-0-13-213683-9Wall Street JournalBloomberg MarketsFinancial TimesJournal of Financial Modeling Learning GoalsIn this case study based graduate course we will1) explore the function and structure of financial markets, including money, bond, stock, mortgageand foreign exchange markets,2) discuss issues regarding financial institutions, monetary policy, interest rates, and the FederalReserve System, and3) develop financial models that predict financial crises, bank failures, and market behavior.The knowledge and skills you learn in this graduate level Money & Capital Markets course will developyour capacity to: 1) lead in organizational situations, 2) apply knowledge in new and unfamiliarcircumstances, 3) adapt and innovate to solve problems, and 4) understand management issues from aglobal perspective. You will be able to a) create, b) evaluate, c) analyze, d) apply, e) understand, andf) remember information regarding financial markets and institutions. Basis for JudgmentStudents will demonstrate an understanding of money and capital concepts and the ability to applythe concepts by analyzing and evaluating case studies. Students are required toi) evaluate the cases, ii) apply course concepts, iii) formulate solutions, iv) makerecommendations, and v) justify their position. Links to industry websites are provided for assignments togive students a practical understanding of theoretical concepts. Demonstration of Achievement: Assurance of LearningExam 135%Homework30%Exam 235%Chapters 1-8Brooklyn CollegeJuly 29thChapters 1–15Brooklyn CollegeAugust 12th

Money & Capital MarketsGraduate Course BUSN 7215 Prof Bassell page 2 of 15Brooklyn College, School of Business, Graduate Program Learning OutcomesThis graduate level Money & Capital Markets course requires students to a) create,b) evaluate, c) analyze, d) apply, e) understand, and f) remember information regarding Money& Capital Markets. At the conclusion of the course, students should be able to:Create a financial model to predict financial crises.Evaluate the function and structure of financial markets, monetary policy tools, goals, and tactics, the causes and effects of financial crises, and the impact of risk and term structure on interest rates.Analyze, compare, and contrast the money, bond, stock, and mortgage markets, primary and secondary markets, the types of mortgage loans, and the determinants of asset demand.Apply, illustrate, and implement statistical techniques to economic data, and the one-period stock valuation model.Understand and discuss the foreign exchange market, the reasons for changes in interest rates and the role in valuation, the efficient market hypothesis, adverse selection and moral hazard, and changes in exchange rates.Remember, explain, and contrast Money & Capital Markets concepts, terms, anddefinitions

Money & Capital MarketsGraduate Course BUSN 7215Prof Bassellpage 3 of 15This syllabus is subject to change as necessary. All assignments are based on case studies.Assignments are due on BlackBoard at 10pm. Late assignments will not be accepted.ASSIGNMENT SCHEDULEWeek1DateDue @ 10pmJuly 15 MonHW AChapter 1 & 2 Financial Markets, Institutions, & SystemsJuly 17 WedHW BChapters 3 & 4 The Role of Interest Rates & Their ChangesJuly 18 Fri2Chapter 5 How Does Risk & Term Structure Affect Rates?July 22 MonHW CChapter 6 Are Financial Markets Efficient?July 24 WedHW DChapter 7 Why Do Financial Institutions Exist?July 25 Fri3456Required Reading AssignmentsChapter 8 Why Do Financial Crises Occur?July 29 MonExam 1Brooklyn CollegeJuly 31 WedHW EChapter 9 Central Banks and the Federal Reserve SystemAug 2FriHW FChapter 10 Conduct of Monetary PolicyAug 5MonHW GChapter 11 & 12 Money MarketsAug 7WedHW HChapter 13 & 14 Stock Market & Mortgage MarketsAug 9FriChapter 15 The Foreign Exchange MarketAug 12 MonExam 2Brooklyn CollegeAug 14 WedHW IChapter 16 The International Financial SystemAug 16 FriHW JChapter 17 & 18 Banking and Financial RegulationAug 19 MonHW KChapter 19 & 20 Banking and Mutual Fund IndustriesFor all assignments you must: demonstrate your understanding by accurately explaining the relevant concepts, draw conclusions, demonstrate superior critical thinking skills, apply the chapter concepts to the scenario correctly, include facts from the scenario to support your position, formulate solutions and make a recommendation regarding next steps.You must use the facts in the case and the concepts in the book to draw conclusions, formulatesolutions, and make recommendations. Students must demonstrate the ability to create,evaluate, analyze, apply, understand, and remember information regarding Money & CapitalMarkets.There are 4 criteria used to evaluate your posting:1) Quantity, 2) Quality, 3) Relevance, and 4) Manner.

MONEY & CAPITAL MARKETS BUSN 7215X Prof Myles Bassellpage 4 of 15Brooklyn College, School of Business, Graduate ProgramHWAThe Financial System Chapter 21. Financial markets allow those with excess funds to connect with those with a shortage of funds. Thetransaction that allows for the transfer of funds can occur through direct or indirect finance. Debt andequity markets, primary and secondary markets, exchanges and over-the-counter markets, andmoney and capital markets are all types of financial markets. Some financial institutions areintermediaries that issue liabilities to get funds and use those funds to get assets by buying securitiesor making loans. There are 3 types of financial intermediaries: 1) banks, 2) contractual savingsinstitutions, and 3) investment intermediaries.Let us learn more about financial intermediaries by examining the Federal Reserve’sU.S. Flow of Funds Report. Click the link below or copy and paste the link into your Click the March 8, 2012 report and the click the PDF “Level tables” link on the left side of page. Thenext U.S. Flow of Funds report will be issued on September 25, 2013. 1) Create your own table for2007, 2008, 2009, 4th Quarter 2010 and 4th Quarter 2011 to answer the questions below regarding thefollowing financial intermediaries: chartered commercial banks, savings institutions, and credit unions.Identify and explain any trends.a. What dollar amount and percentage of assets held in loans?b. What dollar amount and percentage of assets are held in mortgage loans?c. What dollar amount and percentage of assets are reserves held at the Federal Reserve or vaultcash?2) Discuss transaction costs and explain fully how financial intermediation can reduce transaction costsand provide customers with liquidity services. Define, describe, and discuss in detail the differencesbetween 2 types of depository institutions, 2 types of contractual savings institutions, and 2 types ofinvestment intermediaries.3) Define, discuss, and explain asymmetric information, adverse selection, moral hazard, and conflictsof interest.4) The New York Stock Exchange (NYSE) is an example of a secondary market. Let’s learn more aboutthis secondary market by visiting http://www.nyse.coma) What is the mission of the NYSE?b) Firms must pay a fee to list their shares for sale on the NYSE. What would be the fee for a firmwith ten million common shares outstanding?

MONEY & CAPITAL MARKETS BUSN 7215X Prof Myles Bassellpage 5 of 15Brooklyn College, School of Business, Graduate ProgramHWBUnderstanding Interest Rates Chapter 31 Investigate the data available from the Federal Reserve athttp://www.federalreserve.gov/releases Then answer the following questions.a What is the difference in the interest rates on commercial paper for financial firms versus nonfinancialfirms? Provide specific data from the Federal Reserve website to support your point of view. Explain andapply the relevant concepts from chapter 3. Discuss the implications for investors and make arecommendation for investors that want your advice.b What was the interest rate on the one-month Eurodollar at the end of 1971? Provide specific data fromthe Federal Reserve website to support your point of view. Explain and apply the relevant concepts fromthe chapter. Discuss the implications for investors and make a recommendation for investors that wantyour advice.c What is the most recent interest rate reported for the 10-year Treasury note? Provide specific datafrom the Federal Reserve website to support your point of view. Explain and apply the relevant conceptsfrom the chapter. Discuss the implications for investors and make a recommendation for investors thatwant your advice.Interest Rates and Inflation Chapter 42 One of the largest single influences on the level of interest rates is inflation. There are a number ofsites that report inflation over time. Go to xtand review the data available. Note that the last columns report various averages. Move these data into aspreadsheet using the method discussed in the Web exploration at the end of Chapter 1.a What has the average rate of inflation been since 1950, 1960, 1970, 1980, and 1990? Which year hadthe lowest level of inflation? Which year had the highest level of inflation? Provide specific data from theBLS website to support your point of view. Explain and apply the relevant concepts from the chapter.Discuss the implications for investors and make a recommendation for investors that want your advice.b Increasing prices erode the purchasing power of the dollar. It is interesting to compute what goodswould have cost at some point in the past after adjusting for inflation.Go to t would a car that cost 22,000 today have cost the year that you were born? Provide specific datafrom the BLS website to support your point of view. Explain and apply the relevant concepts from thechapter. Discuss the implications for investors and make a recommendation for investors that want youradvice.c One of the points made in this chapter is that inflation erodes investment returns. Go towww.moneychimp.com/articles/econ/inflation calculator.htmand review how changes in inflation alter your real return. Provide specific data from the Money Chimpwebsite to support your point of view. Explain and apply the relevant concepts from the chapter. Discussthe implications for investors and make a recommendation for investors that want your advice. Whathappens to the difference between the adjusted value of an investment compared to its inflation-adjustedvalue as 1) Inflation increases? 2) The investment horizon lengthens? 3) Expected returns increase?The remaining homework assignments are available on BlackBoard.

MONEY & CAPITAL MARKETS BUN 7215X Prof Myles Bassellpage 6 of 15Brooklyn College, School of Business, Graduate ProgramSUGGESTED WEB BASED READING AND RESOURCESChapter 1 Financial Markets and InstitutionsFederal Reserve Board Statistics and Historical ases/statisticsdata.htmFederal Reserve Statistical Release H.15 - Historical a.htmStockCharts.com - Charting Tools - Historical Chart pter 2 The Financial SystemYahoo! Finance. Major World Stock Indexes, with charts and news.http://quote.yahoo.com/m2?uFederal Reserve Flow of Funds U.S. Securities and Exchange Commissionhttp://www.sec.govChapter 7 Why Do Financial Institutions Exist?Lemons Problemhttp://nobelprize.org/nobel prizes/economics/laureates/2001/public.htmlChapter 8 Why Do Financial Crises Occur?Dow-Jones Industrial Average (DJIA) closing values from 1900 to ral Reserve Bank of St. Louis FRED ories/22MacroMarkets - U.S. national composite house price index.http://www.macromarkets.com/csi housing/index.aspSpeech from Chairman Ben S. Bernanke regarding Monetary Policy and the Housing Bubble - Jan 3, h/bernanke20100103a.htmSUGGESTED WEB BASED READING AND RESOURCES for the remaining chapters are available on BlackBoard.

Money & Capital MarketsGraduate Course BUSN 7215Prof Bassellpage 7 of 15Rubric for Evaluating AssignmentsCriteriaA90 B80 C70 FLess than 250 wordsQuantity500 words per question 400 words per question 250 words per question per question. EitherThe amount ofThe amount ofThe amount ofthe assignment wasinformation providedinformation providedinformation providednot submitted, or theredemonstrates andemonstrates a gooddemonstrates only a fair is not enough detail toexcellent ability forability for creating,ability for creating,demonstrate ancreating, evaluating,evaluating, analyzing,evaluating, analyzing,understanding of theanalyzing, applying,applying, understanding, applying, understanding, concepts or the abilityunderstanding, andand remembering theand remembering theto apply the conceptsremembering the topicstopics of the course.topics of the course.or plagiarism isof the course.suspected and thegrade is a zero.QualityDemonstrates a goodDemonstrates anexcellent understanding understanding of theof the chapter concepts, chapter concepts andexplains effectively andaccurately the relevantconcepts, applies thechapter conceptsproperly to the case,Demonstrates only a fair Either the assignmentunderstanding of thewas not submitted, orchapter concepts andthe posting does notoften accurately andonly a fair ability to applydemonstrate aneffectively explains thethe concepts. Conceptsconcepts, applies chapter are not fully or accurately understanding of theconcepts to the case,explained. Citations and concepts or the abilityrecommends next steps, examples were generally to apply the conceptsrecommends specificand includes facts from not included asor plagiarism isaction, and includes facts the case to support anecessary.suspected and thefrom the case to support main idea. Citations andgrade is a zero. Noa main idea. Citationsexamples were usuallyrecommendations orand examples wereincluded as necessary.solutions formulated.included as necessary.RelevanceDirectly related to theRelated to the case, butSomewhat related to the Not related to thecase or chapter and isoften not integrated wellother postings and theintegrated with otherwith other postings.case or chapter.Organized and usuallyDisorganized and/or has Very disorganized andassignment.postings.MannerVery organized and hasno spelling, punctuation, has no spelling,many spelling andhas numerous spelling,or grammatical errors.punctuation, orgrammatical errors thatpunctuation, andgrammatical errorsmakes it difficult togrammatical errors.understand.

Money & Capital MarketsGraduate Course BUSN 7215Prof Bassell page 8 of 15Brooklyn College, School of Business, Graduate Program Methodology Textbook: The textbook is required and an important tool used to expose students to importantMoney & Capital Markets concepts and topics. You should read all the chapters in the book,but some chapters will receive greater attention than others during the semester. Case Studies: The application of key Money & Capital Markets concepts will be explored andstudents will be required to analyze case studies. The answers are usually not in the cases or thetextbook. You must use the facts in the case and the concepts in the book to drawconclusions and make recommendations. The case studies are a great learning tool since theywill help improve your understanding of the concepts and strengthen your critical reasoning skills. Thequestions are designed to give you the opportunity to 1) create, 2) evaluate, 3) analyze,4) apply, 5) understand, and 6) remember information regarding Money & Capital Markets. Youmust give a comprehensive explanation using the criteria and components of the relevantconcepts. Your answer must be persuasive and use the course concepts as a basis. Each case studyanalysis should be a minimum of 2,500 words. Each question requires a minimum response of500 words, but there is no maximum number of words. If your posting is less than 500 words youmight receive partial credit. The minimum is not equivalent to a grade of 100% and doing theminimum is not enough to get a grade of 100%. However, it is not just about the number of wordsposted. There are 4 criteria used to evaluate your posting 1) Quantity, 2) Quality,3) Relevance, and 4) Manner. Discussion Boards: Discussion threads will post to the course online via Black Board. Students arerequired to enter the discussion board and post thoughtful comments and questions. Commentsshould demonstrate an understanding of key course concepts, strong critical thinking skills, and apersuasive logic. You must make 4 posts: 1 primary post that answers the questions and 3 secondaryposts regarding the postings of others on our team. “I agree with you” is not a thoughtful comment. Ifyou agree you should explain why and engage others in the discussion. The purpose of the discussionboard is to have a dialogue about the case studies and to have a meaningful interaction. Video Segments: There are several videos posted on BlackBoard. These video cases and lecturesclose the gap between theoretical and practical. Some case studies you will watch and others you willread. My goal is to make the course interactive, helpful in your pursuit of knowledge, and provide youwith tools that will allow you to be successful in your career.

Money & Capital MarketsGraduate Course BUSN 7215Prof Bassell page 9 of 15Brooklyn College, School of Business, Graduate Program My GoalMy goal is for students to L E A R N ! It is all about you! My MissionTo help students achieve their educational and professional goals. My Goals For You1. Increase Your money and capital and negotiating knowledge and skills2. Improve Your ability to use computers and the Internet3. Enhance Your ability to analyze and solve problems4. Expand Your ability to find and use information on your own5. Strengthen Your ability to apply concepts and skills6. Fortify Your appreciation and sensitivity to ethical issues and diversity7. Develop Your ability to express your ideas and lead an organization My Dozen Objectives1. Distribute a written syllabus on or before the first day of class2. Demonstrate my ability to organize materials for the class3. Stimulate interest in the topic being studied4. Generate effective class discussion5. Communicate effectively and speak clearly6. Encourage independent thinking and ethical behavior7. Demonstrate openness to students’ comments, questions, and viewpoints8. Display an exceptional understanding of the course subject matter9. Keep to the time and schedule requirements of the class10.Provide students access to me outside of class and be available for Q&A11.Clearly communicate course requirements and assignments12.Promptly grade assignments

Money & Capital MarketsGraduate Course BUSN 7215 Prof Bassell page 10 of 15Brooklyn College, School of Business, Graduate Program Demonstration of Achievement: Assurance of LearningExam 135%Homework30%Exam 235%Chapters 1-8Brooklyn CollegeJuly 29thChapters 1–15Brooklyn CollegeAugust 12th Grading Criteria : Graduate LevelA93% B-80% - 82%A-90% - 92%C 76% - 79%B 86% - 89%C73% - 75%B83% - 85%FBelow 73% Exams Please bring photo ID, a pen,

Financial Markets & Institutions By Mishkin and Eakins 7th edition (2012) McGraw-Hill Publishers ISBN: 978-0-13-213683-9 Learning Goals In this case study based graduate course we will 1) explore the function and structure of financial markets, including money, bond, stock, mortgage and foreign exchange markets,

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