University of Santo Tomas College of Commerce and Business Administration Department of Financial Management
COURSE PLAN MONETARY POLICY AND CENTRAL BANKING (FIN 105)
Course Facilitator: Ms. Nora Elena M. Castillo Days/Time/Room: MWF: 12 noon – 1 PM /Room 416, 2 PM – 3 PM/Room 418 Yr/Sec : 4FM1, 4FM5 4FM5 A. Course Description: Description: This course introduces the students to the fundamental concepts and principles of the monetary system, monetary policy and the role and functions of the central banking systems of the Bangko Sentral ng Pilipinas (BSP), Federal Reserve System and the European Central Bank. Topics include money creation and central banking: Instruments of monetary policy: Operations of the monetary board: crosses, models and curves: monetary theories, policies ideas and results. This course covers the system of public finance. The course develops in the students an in-depth understanding of monetary concepts relevant to the finance function. B. Course Intended Learning Outcomes: The student should develop technical and analytical skills by applying different concepts, principles and processes of monetary system and use these orientations to demonstrate critical thinking and problem solving skills and provide fair judgment judgment and sound sound financial financial decisions. decisions. They should demonstrate an in-depth knowledge, analysis of the trends and issues and understanding of the different paradigm shifts underlying the trends and issues in the Philippine Banking System, Federal Reserve System and the European Central Bank, the banking industry on global perspective. They should demonstrate social awareness and responsibility in analysing the effectiveness and relevance of public finance and the different trends and problems underlying it. They should engage in intensive individual study and work well with others in formal and informal cooperative and collaborative learning teams.
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C. Course Outline: D. Week 1-5
Topic Unit I. BANKING AND THE PHILIPPINE FINANCIAL SYSTEM
A. Money and Banking (BSP, Federal Reserve, and Euro CB)
Concept and Functions of Money Central Banking and Conduct of Monetary Policy The CB and Monetary Creation Process Monetary Policy Framework in the Philippines Philippine Financial/Banking System Financial innovations
B. CBP since 1993
From CBP to BSP Restructuring of the old CB of the Philippines Legal and Institutional Arrangements The Monetary Board of BSP Independence ND Accountability of BSP Functions of the BSP
C. Other CBs
Federal Reserve System Euro Central Bank Review of the Different Central Bank Governors, the highlights of performances during their term of office
D. Philippine Financial System
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Week
Topic
Role of PDIC Role of BSP in the Financial System
Unit II. CENTRAL BANKING AND BANK SUPERVISION OF BSP 6-8
E. Supervision of Financial Institutions Supervision and Examination Sector i. Financial Institutions under BSP Supervision ii. Risk-based supervision iii. Consolidated Supervision
F. Currency Operations
Bank Issue CB/BSP Currency Issue Currency Production Banknote Production Process Cash Operations Protecting the Integrity of the Currency Role of Money in the Economy Glimpse of the notes and coins issued by the CBP and BSP
PRELIMINARY EXAMINATIONS Unit III. MONETARY POLICY 9 - 16
A. Monetary Policy: Brief Survey with Focus in the Philippines
How Monetary Policy Impacts on the Economy Expectations and Lag in the Impact of Monetary Policy
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Issues in the Design of a Money Policy Framework
B. Monetary Policy: Brief Survey with Focus in the Philippines
17-18
Project presentations: Various Monetary Tools and Policies implemented by the Central Banks in the Philippines and abroad, timeliness and effectiveness of the program
Unit IV. PUBLIC FINANCE
A. History of Public Finance B. Implementing Public Finance FINAL EXAMINATIONS
E. Basic Readings Money & Banking in the Philippines, a BSP Publication Manual of Regulations for Banks, a BSP Publication Bank Management & Financial Services, 7 th Edition, Peter S. Rose and Sylvia C. Hudgins Money and Banking (M & B2), Dean Croushore F. Extended Readings Weekly Publication of Asian Wall Street Journal Biblionet/webnet http://www.bsp.gov.ph http://www.federalreserve.gov http://www.mart.com.ph http://www.pdex.com.ph G. Course Requirments: FIN 101
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H. Grading System: Preliminary Term Class Standing ------------ 60% Quizzes Recitation Case Analyses Article Reviews Prelim Exam ----------------- 40% Final Term Preliminary Grade --------- 50% Class Standing ----------- 30% Quizzes Recitation Case Analyses Reports Final Exam --------------- 20% TOTAL =
I.
100% ====
Classroom Policies: 1. Students are expected to attend class, participate in discussions, come to class prepared, and submit class assignments on time. (Late assignments will only be accepted from students who have legitimate excuses). 2. Students should come early to class to avoid tardiness and absenteeism. Students coming to class 10 minutes after the time shall be marke d “late” and will be considered “absent” beyond 20 minutes. 3. Students should be responsible to find out what material was covered from other students during the class session that the student missed due to some unforeseen circumstances. 4. Plagiarism, cheating and unethical behaviour in any form will not be tolerated in this course. Engaging in such behaviours will result in a failing course grade. You are to do all of your own work. Plagiarism is defined as representing (and using) another person’s ideas, writings, and work as one’s own. 5. Cell phones are to be turned off during class. Tell the professor if you have special circumstances regarding the necessity of use during class.
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6. Make sure that the classroom is clean every start and end of class. 7. No cursing and bullying. 8. Stringent compliance to the code of conduct and discipline under PPS No. 1027 (pp. 91-92) of the Student Handbook A.Y. 2013-14. 9. Students should wear their school uniform properly and neatly and their IDs. Aside from what is prescribed in the student handbook, the following are the professor’s rules: 10. No make-up quizzes shall be given for missed quizzes, regardless of circumstances, unless extremely meritorious, to be determined on a case-to-case basis, upon the sole discretion of the course facilitator. Per College Policy, students who failed to take their preliminary and/or final examination(s) on the scheduled date(s) may be given make-up examinations. The lesson coverage of said make-up examinations shall be the same as that of the regularly scheduled examination, but the make-up examination questions are designed to be more difficult and challenging. All make-up examinations must be taken no later than the prescribed deadline specified by the College. 11. All assignments, projects and other requirements must be submitted on the specified date provided by the course facilitator. Late submission of course requirements shall merit a corresponding deduction in points. The course facilitator reserves the right to determine the acceptability of reason(s) presented by the student. 12. Prayer before and after class must be conducted. 13. Student should seek permission from the professor before going out of the classroom. J. Consultation Schedule: Faculty Member Email-address Consultation Hours Venue
Ms. Nora Elena M. Castillo
[email protected] MWF 3 – 4 PM Faculty Room, St. Raymund Building
Prepared by:
Noted by:
NORA ELENA M.CASTILLO
ASST. PROF. ANTHONY DC. ALTAREJOS Chair Financial Mangement Department
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