Money and Banking, ECON30005
Lecture 24: Review of the Course
Lawrence Uren
University of Melbourne
24 May 2024
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Exam Structure
• The exam is two hours long
• Plus reading time
• Part A - Multiple choice (20 questions, 1 point per
question, 20)
• Part B - Multipart questions (5 questions - written
response, 30)
• Part C - Calculation - Model questions (2 questions multipart, 20)
• Materials: closed book but allowed Casio Fx-82 calculator,
English-foreign language dictionary, drawing tools
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Exam Content
The exam is
• Comprehensive: covers all topics
• Content: “Everything on the exam has been at least
touched upon in lectures and tutorials”
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Exam Study
I would make sure I understand
• Lecture material
• Tutorials
• Assignments
• Textbook - Mishkin has lots of interesting questions
• Exam from 2021 and 2022 (solutions will be posted
sometime next week)
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Where to go for extra help?
• Online tutor in the Welcome Module is still open
• Pit-stop tutorials:
• Yobin, 11 - 1 pm on Wedneday 29 May in Spot 2018
• Nikhil, 12 - 2 pm on Monday 3 June in FBE454
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After the Exam
• All students that fail will have their exam marked by two
people
• But the Bell Curve Tolls for Thee - may need to scale up or
down depending upon exam grades
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Subject Experience Surveys
This is the fourth time teaching this subject:
• Your feedback is always valued
• Most useful responses include specific comments
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In the beginning...
• What will this course cover?
1. Money
2. Financial Intermediation
3. Financial Crisis
4. Monetary policy and the Macroeconomy
• And I wanted this course to · · ·
1. Be relatively practical
2. Cover a blend of theoretical and empirical contributions
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Question: What Should I Know About The Models We
Have Studied?
• Mathematical derivations
• Conceptual insights
On this exam, Part B is more focused on conceptual insights
and Part C is more focused on derivations
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Models Studied in this Course
• Kiyotaki-Wright
• Classical Dichotomy
• Baumol-Tobin
• Stiglitz-Weiss
• Diamond-Dybvig
• Geanakoplos
• Cagan’s model
• Rules vs Discretion
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Previous Exams
Let’s look at the 2023 exam:
• B1: Baumol-Tobin, described the environment but you had
to set out the relevant equations
• B2: Diamond and Dybvig: mostly understanding
conceptual insights
• B3: Rules vs Discretion: equations are provided and
derivations and interpretation required
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Final Words
• This is a third-year elective
• Natural future pathways to study more economics would
be to do apply for Honours or Masters
• Good luck on the exam and in the future
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