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Money, Сredit, Banks

2020/2021
Учебный год
ENG
Обучение ведется на английском языке
4
Кредиты
Статус:
Курс обязательный
Когда читается:
2-й курс, 3 модуль

Преподаватель

Course Syllabus

Abstract

The course is devoted to the study of the theoretical foundations and practical features of the functioning of the monetary system, the organization of monetary circulation in the context of the development of information technology and the digitalization of the economy. As part of the course, lending organizations, the functioning of the banking system, and mechanisms of monetary regulation are studied. To master the academic discipline, students must possess the following knowledge and competencies in the field of the monetary system: know the theoretical foundations of the functioning of the monetary system and monetary circulation, the organization of lending, the functioning of the banking system and monetary regulation; possess the skills of analyzing statistical data on money circulation, the state of the monetary sphere, the banking system; assess the role of credit institutions in a modern market economy, assess the impact of monetary regulation on the economy as a whole and the activities of an enterprise; have the skills of self-assessment of credit products, analysis of banking operations and indicators of the monetary system. Discipline current control includes control work, homework and exam.
Learning Objectives

Learning Objectives

  • The study of the theoretical foundations in the field of monetary circulation and regulation is necessary to understand the functioning of monetary processes in a modern economy and assess their impact on participants in economic relations and the results of their activities.
Expected Learning Outcomes

Expected Learning Outcomes

  • Analyzes the structure and dynamics of money supply
  • Analyzes indicators of money circulation
  • Analyzes inflation indicators and evaluates anti-inflationary policy measures
  • Analyzes balance of payments indicators to identify macroeconomic patterns
  • Analyzes the parameters of credit transactions
  • Analyzes the indicators of the banking sector, draws conclusions about its stability and development prospects
  • Analyzes the balance sheet of the Central Bank of the Russian Federation
  • Assesses the impact of money-credit policy on the country's economy
Course Contents

Course Contents

  • Essence, functions and types of money
    Money origin concept. Necessity and prerequisites for the emergence of money. Money as an economic category. Types of money and their features. Money theory. Functions of money. Quasi-money and monetary surrogates. Electronic money and mobile payments.
  • Monetary system
    The essence and types of monetary systems. Characteristics of the elements of monetary systems. Monetary system of the Russian Federation. Money supply, indicators of its volume and structure. The law of money circulation. Emission and release of money into economic circulation. Money multiplier. The concept and structure of money turnover. National payment system: essence, structure, principles and infrastructural foundations. Payment instruments. Cash circulation. Organization of cashless payments. Traditional and electronic payment systems. Internet payment systems.
  • Inflation
    Essence and causes of inflation. Modern inflation as a multifactorial process. Description of the main types of inflation. The causes of inflation in Russia. Monetary reforms as a way to radically change the monetary system: nullification, devaluation, denomination. The main directions of anti-inflationary policy. Inflation targeting.
  • Currency and currency system
    Concept and classification of currencies. Exchange rates regime. Analysis of factors influencing the exchange rate. Currency system: essence, functions and types. Evolution of the world monetary system. Concept and types of exchange rate. Currency market. Foreign exchange policy. Balance of payments.
  • Credit and credit system
    The nature and the need for the loan. Credit theory. Credit functions. The credit system and its role in the economy. Credit system participants. Loan forms. Demand and supply of credit. Loan interest. Nominal and real interest rates. Interest rate structure.
  • Banks and banking system
    Banks as financial intermediaries. Transformation of the role and functions of banks in modern conditions. Banking system: essence, composition and features of development. Banking infrastructure: tasks and activities. Types of banking operations and transactions. Remote Banking. Features of the balance of the commercial bank. Digital banking. Basel Committee on Banking Supervision. The Central Bank of the Russian Federation as a mega-regulator of the financial market. Banking regulation in Russia.
  • Money-credit policy
    Liquidity assessment of the banking sector and the mechanisms of its regulation. Banking sector sustainability indicators. The essence and objectives of money-credit policy. Money-credit policy instruments and regimes. Reserve requirements policy. Refinancing of credit institutions. Interest rate policy of the Central Bank of the Russian Federation. Issue of bonds of the Central Bank of the Russian Federation. REPO transactions. Currency swap operations. Transmission mechanism of money-credit policy
Assessment Elements

Assessment Elements

  • non-blocking Exam
  • non-blocking Homework
  • non-blocking Classroom work
  • non-blocking Control work 2
Interim Assessment

Interim Assessment

  • Interim assessment (3 module)
    0.2 * Classroom work + 0.2 * Control work 2 + 0.5 * Exam + 0.1 * Homework
Bibliography

Bibliography

Recommended Core Bibliography

  • Godley, W. Monetary Economics. An Integrated Approach to Credit, Money, Income, Production and Wealth / Wynne Godley, Marc Lavoie. – London: Palgrave Macmillan, 2012. – 500 p. – https://link.springer.com/book/10.1007/978-1-137-08599-3

Recommended Additional Bibliography

  • Winkler, B. A Flow-of-Funds Perspective on the Financial Crisis.Volume I: Money, Credit and Sectoral Balance Sheets / Bernhard Winkler, Ad van Riet, Peter Bull. - London: Palgrave Macmillan, 2014. – 317 p. Retrieved from: https://link.springer.com/book/10.1057/9781137352989