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ECO717Social Sciences2 Unitsintermediate

Advanced Monetary Economics

This course on Advanced Monetary Economics provides an in-depth understanding of the monetary sector and its role in the economy. It covers the nature and functions of money, money demand and supply, and monetary policy analysis. Students will explore the structure of balance of payment accounts, the role of monetary policy in less developed countries, and the functions of financial institutions. The course equips students with the analytical tools necessary for contributing to monetary policy discussions.

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200h
Study Time
13
Weeks
15h
Per Week
intermediate
Math Level
Course Keywords
Monetary EconomicsMoney SupplyMonetary PolicyFinancial InstitutionsBalance of Payments

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
📊
Math Level
Moderate Math
📖
Learning Type
Theoretical Focus

Course Topics

Key areas covered in this course

1

Nature of Money

2

Demand for Money

3

Supply of Money

4

Monetary Policy Instruments

5

Balance of Payments

6

Financial Institutions

7

International Financial Institutions

Total Topics7 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Financial Analyst

Apply your skills in this growing field

Monetary Policy Advisor

Apply your skills in this growing field

Economist

Apply your skills in this growing field

Banking Officer

Apply your skills in this growing field

Investment Manager

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

BankingFinanceGovernmentConsultingResearch

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

MODULE 1: THE NATURE, DEMAND AND SUPPLY OF MONEY

3h

Unit 1: Monetary Economics and Nature of Money

3 study hours
  • •Read the introduction to Monetary Economics and understand its scope.
  • •Define money and identify its key characteristics.
  • •Explain the different functions of money, including medium of exchange, unit of account, and store of value.
Week
2

MODULE 1: THE NATURE, DEMAND AND SUPPLY OF MONEY

3h

Unit 2: Money Demand and Determinants

3 study hours
  • •Explain the motives for holding money, including transactionary, precautionary, and speculative motives.
  • •Discuss Friedman's theory of demand for money, emphasizing the role of wealth.
  • •Illustrate the determinants of money demand, including income, interest rates, and price levels.
Week
3

MODULE 1: THE NATURE, DEMAND AND SUPPLY OF MONEY

3h

Unit 3: The Quantity Theory of Money

3 study hours
  • •Enumerate Fisher's quantity theory of money and its assumptions.
  • •Discuss the Cambridge cash balance approach to the quantity theory of money.
  • •Highlight the superiority of the cash balance version over Fisher's quantity theory.
Week
4

MODULE 1: THE NATURE, DEMAND AND SUPPLY OF MONEY

3h

Unit 4: Money Supply and Monetary Equilibrium

3 study hours
  • •Explain the meaning and components of money supply, including narrow and broad money.
  • •Illustrate the determinants of money supply, such as reserve requirements and high-powered money.
  • •Enumerate the conditions for monetary equilibrium, where money demand equals money supply.
Week
5

MODULE 2: MONETARY POLICY ANALYSIS

3h

Unit 1: Objectives and Instruments of Monetary Policy

3 study hours
  • •Explain the meaning and objectives of monetary policy, including price stability and full employment.
  • •Identify the instruments of monetary policy, such as open market operations and reserve requirements.
  • •Discuss the meaning and objectives of fiscal policy, including resource mobilization and income redistribution.
Week
6

MODULE 2: MONETARY POLICY ANALYSIS

3h

Unit 2: Nigerian Monetary Policy Targets

3 study hours
  • •Give an overview of Nigerian monetary policy, including its evolution and current framework.
  • •Explain different monetary policy targets in Nigeria, such as monetary targeting and inflation targeting.
  • •Enumerate different monetary policy transmission mechanisms, including interest rate and exchange rate channels.
Week
7

MODULE 2: MONETARY POLICY ANALYSIS

3h

Unit 3: Balance of Payment Accounts

3 study hours
  • •Highlight the components of the balance of payments, including current, capital, and financial accounts.
  • •Illustrate the structure of Nigeria's balance of payments, identifying key items and trends.
  • •Discuss the causes and consequences of balance of payments disequilibrium.
Week
8

MODULE 2: MONETARY POLICY ANALYSIS

3h

Unit 4: Monetary Policy and Economic Stabilisation

3 study hours
  • •Explain the types of monetary policy, including expansionary and contractionary policies.
  • •Discuss the role of monetary policy in developing countries, focusing on inflation control and economic growth.
  • •Identify the limitations of monetary policy in developing countries, such as informal sectors and underdeveloped markets.
Week
9

MODULE 3: FINANCIAL INSTITUTIONS AND ECONOMIC DEVELOPMENT

3h

Unit 1: Financial System

3 study hours
  • •Explain the concept of a financial system and its importance in economic development.
  • •Identify the components of a financial system, including institutions, markets, and instruments.
  • •Discuss the structure of the Nigerian financial system, highlighting key regulatory authorities and institutions.
Week
10

MODULE 3: FINANCIAL INSTITUTIONS AND ECONOMIC DEVELOPMENT

3h

Unit 2: Bank Financial Institutions

3 study hours
  • •Explain the functions of a central bank, including monetary policy implementation and banking supervision.
  • •Enumerate the functions of a deposit money bank, such as accepting deposits and granting loans.
  • •Describe the process of credit creation by banks and its impact on the money supply.
Week
11

MODULE 3: FINANCIAL INSTITUTIONS AND ECONOMIC DEVELOPMENT

3h

Unit 3: Non-Bank Financial Institutions

3 study hours
  • •Discuss the functions of non-bank financial institutions (NBFIs), such as insurance companies and microfinance banks.
  • •Highlight the role of NBFIs in economic development, focusing on financial inclusion and specialized lending.
  • •Enumerate the problems of NBFIs, such as regulatory challenges and funding constraints.
Week
12

MODULE 3: FINANCIAL INSTITUTIONS AND ECONOMIC DEVELOPMENT

3h

Unit 4: International Financial Institutions

3 study hours
  • •Identify the functions of the World Bank, including poverty reduction and development financing.
  • •Explain the role of the International Monetary Fund (IMF) in promoting global financial stability.
  • •Discuss the key functions of the African Development Bank (AfDB) in supporting African development.
Week
13

Comprehensive Course Review

6h

Final Revision and Exam Preparation

6 study hours
  • •Review all key concepts and theories covered in the course.
  • •Work through sample problems and exercises from each module.
  • •Prepare for final examinations by focusing on areas of weakness.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create concept maps linking monetary policy instruments to macroeconomic goals.

2

Practice analyzing balance of payments data and identifying potential imbalances.

3

Review the functions of different financial institutions and their impact on economic development.

4

Focus on understanding the transmission mechanisms of monetary policy.

5

Study past exam papers to familiarize yourself with the question formats and difficulty levels.

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