UCL Department of Economics


ECON3028 - Economics of Money and Banking

Term 2


This module aims to enable students to apply both microeconomic and macroeconomic analysis to the assessment of current debates on financial and monetary issues.


A basic understanding of:

  • The principles of bank management and their changing character in recent decades
  • Strategies adopted by banks to address risk, with particularly reference to informational asymmetries
  • The economic theory of bank intermediation
  • The role of banking in the financial system and in the wider economy
  • Banking regulation and government intervention in the banking sector
  • Theories and debates on the role and effectiveness of monetary policy
  • Monetary aggregates, exchange rates and inflation as targets of monetary policy
  • The historical experience of UK monetary policy during the past three decades
Taught by:
Cloda Jenkins
Assessment: 20 hours of lectures plus 4 compulsory tutorial classes and 4 accompanying problem sets (including both essays and mathematical problems). Assessment will be by examination - requiring both problem solving and essay-writing. 2-hour unseen written examination in Term 3.
Suitable for:
3rd year Economics (L100), Econ/Geog (LL17) and Phil/Econ (VL51) 3rd year students.
Prerequisites: ECON2001: Microeconomics and ECON2004: Macroeconomic Theory and Policy.
Moodle page: