ECON 456 - Introduction to Monetary Theory

Units: 3
Review of current literature on the demand for and supply of money; effects of monetary policy on inflation, unemployment, interest rates, and balance of payments.

Prerequisites: ECON 305.
Equivalent Quarter Course: ECON 4315.
Possible Instructional Methods: Entirely On-ground.
Grading: A-F grading only.
Student Learning Outcomes - Upon successful completion of this course students will be able to:

Understand the various concepts of money and money substitutes;
Understand the sources of money and money substitutes;
Explain and anticipate the consequences of changes in the quantity of money on such nominal variables as interest rates, the price level, inflation, and the exchange rate;
Explain and anticipate the consequences of changes in the quantity of money on such economic variables as the gross domestic product and unemployment;
Understand the sources of competing theories of monetary policy.