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FMT409Sciences3 Unitsintermediate

Monetary Economics

This course provides an overview of monetary economics, covering topics such as money, demand and supply of money, financial institutions, inflation, deflation, and monetary policies. It explores the Nigerian capital and money markets, international trade, balance of payments, public finance, taxation, and public debt. The course also examines national income, economic growth, development planning, unemployment, and management of foreign operations and international trade.

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208h

Study Time

13

Weeks

16h

Per Week

basic

Math Level

Course Keywords

Monetary EconomicsMoney SupplyFinancial InstitutionsInflationMonetary Policy

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level

Builds on foundational knowledge

65%

intermediate

➕

Math Level

Basic Math

📖

Learning Type

Theoretical Focus

Course Topics

Key areas covered in this course

1

Money and its functions

2

Demand and supply of money

3

Financial institutions

4

Inflation and deflation

5

Monetary and fiscal policies

6

International trade and balance of payments

7

Public finance and taxation

8

Public debt

9

National income accounting

10

Economic growth and development

11

Unemployment

12

Management of foreign operations

Total Topics12 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

Economist

Apply your skills in this growing field

Policy Advisor

Apply your skills in this growing field

Investment Banker

Apply your skills in this growing field

Accountant

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

BankingFinanceGovernmentConsultingInternational Trade

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Money

3h

Unit 1: Money

3 study hours

•Read the introduction to understand the concept of money and its evolution.
•Study the definitions of money and differentiate it from wealth and financial resources.
•Analyze the barter system and its limitations.
•Attempt the student assessment exercise on the barter system.

Week

2

Module 2: Demand for Money

3h

Unit 2: Demand for Money

3 study hours

•Define the demand for money and understand its relationship with wealth.
•Study the Liquidity Preference Theory and its implications.
•Examine the motives for holding money: transactionary, precautionary, and speculative.
•Attempt the self-assessment exercises.

Week

3

Module 3: Supply of Money

3h

Unit 3: Supply of Money

3 study hours

•Define the supply of money and its components.
•Understand the determinants of money supply, including the behavior of banks and the public.
•Examine the money stock composition and how it is measured.
•Attempt the self-assessment exercise.

Week

4

Module 4: Types of Financial Institutions

3h

Unit 4: Types of Financial Institutions

3 study hours

•Define financial institutions and their role in channeling funds.
•Recognize the various types of financial institutions, including banks and non-banks.
•Arrange financial institutions into bank and non-bank categories.
•List the types of financial institutions in Nigeria.

Week

5

Module 5: Functions and Control of Financial Institutions

6h

Unit 5: Functions of Financial Institutions

3 study hours

•Recognize the functions of bank financial institutions like CBN, Commercial Banks, Merchant Banks, and Development Banks.
•Recall the functions of non-bank financial institutions like insurance companies, Finance Companies, Primary Mortgage Institutions, NERFUND, Discount Houses, NSITF, etc.
•Define the functions of specialized banks Non-Conventional Banks.

Unit 6: The Control of Financial Institutions

3 study hours

•Identify the regulatory and supervisory authorities of the various Financial Institutions.
•Examine how Central Bank of Nigeria controls the various Financial Institutions.
•Specify the role of the Nigerian Deposit Insurance Corporation.

Week

6

Module 6: Inflation and Deflation

3h

Unit 7: Inflation

3 study hours

•Define inflation and its various types.
•Specify the causes of inflation in Nigeria.
•Appreciate the effects of inflation on the economy.
•Recall the various ways of controlling inflation.

Week

7

Module 6: Inflation and Deflation

3h

Unit 8: Deflation

3 study hours

•Define deflation and its causes.
•Determine the effects of deflation on the economy.
•Suggest the various ways of controlling deflation.
•Distinguish between Deflation and Inflation.

Week

8

Module 7: Tools of Monetary Policies

3h

Unit 9: Tools of Monetary Policies

3 study hours

•Present an introduction of the meaning, objectives and stance of monetary policy.
•Discuss in brief the various tools and techniques of monetary policy.
•Show the administrative procedure of formulation and monetary policy and the lags that often occur.

Week

9

Module 8: The Nigerian Capital and Money Markets

3h

Unit 10: The Nigerian Capital and Money Markets

3 study hours

•Understand the meaning of financial market, money market, capital market and their operators, instruments.
•Identify the money market instrument and institutions.
•Recognize the feature of a Developed Money Market

Week

10

Module 9: International Trade and Balance of Payments

3h

Unit 11: International Trade

3 study hours

•Learn the concept, reasons for and importance of International Trade.
•Quote the classical Theories of International Trade, especially the theory of comparative advantage and other rationals for trade between nations.
•Outline the advantages and disadvantages of International Trade.

Week

11

Module 9: International Trade and Balance of Payments

3h

Unit 12: The Balance of Payments

3 study hours

•Define Balance of Trade and Terms of Trade.
•Make clearer the meaning of Balance of Payments and its various items.
•Distinguish between the various parts of the current and capital accounts that constitute the component/ structure of the Balance of Payments.

Week

12

Module 10: Public Finance and Fiscal Policies

6h

Unit 13: Scope of Public Finance

3 study hours

•Specify the meaning of Public Finance.
•Differentiates between Public Sector, and Private Sector of the economy.
•Examine the objectives of Public Finance.

Unit 14: Taxation and Fiscal Policies

3 study hours

•State clearly the reasons why Government levy tax or tax objectives.
•Define the principles of taxation, what tax is, its effect and various types of tax.
•Point out the characteristics or features of a good tax system

Week

13

Module 11: Budgeting and Public Debt

6h

Unit 15: Budgeting in the Nigerian Public Sector - (Government Budgeting)

3 study hours

•Define what a Budget is, know how government prepares budget, presents it to the national assembly and recognize the steps to be taken in the presentation of a National Budget.
•Examine what is budget deficit and budget surplus.
•Appreciate the main roles of the budget.

Unit 16: Public Debt

3 study hours

•Know the meaning of public debt.
•Analyze fully the rationale or reason for public debt.
•Appreciate the effects of public debt and or the public economy.

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

Review definitions of money, M1, M2, and their components (Unit 3).

2

Practice calculating money multiplier effects from changes in reserves (Unit 3).

3

Create a table comparing Keynesian vs. Monetarist views on money demand (Units 2, 9).

4

Outline the steps the CBN takes to formulate monetary policy (Unit 9).

5

Explain the relationship between interest rates and bond prices (Units 2, 10).

6

Create concept maps linking Units 13-15 public finance concepts.

7

Practice calculating trade balances and terms of trade (Units 11, 12).

8

Review the components of the Balance of Payments (Unit 12).

9

Outline the key assumptions of the classical quantity theory of money (Unit 2).

10

Practice calculating national income using expenditure, income, and output approaches (Unit 17).

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