ECF3143 Economics of money and banking
Faculty of Business and Economics
ECF3143 Economics of money and banking is a level 3, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2026 in Semester 2 at Caulfield. It needs (ECC1000, ECW1101, ECF1100 or ECB1101) and (ECC2010, ECB2330, ECW2730 or ECF2331).
- Credit points
- 6
- Offered in 2026
- Semester 2
- Caulfield
- Assessment
- No exam
- 3 tasks
- Workload
- 144 hours
- per semester
This is the 2026 handbook entry. See the 2027 entry.
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Requisites
Before ECF3143
Prerequisites
Pass these before you enrol.
Prohibitions
You can't enrol if you have passed any of these.
After ECF3143
No unit lists ECF3143 as a prerequisite in the 2026 handbook.
Enrolment rules
To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 Higher level. You may have satisfied this by completing relevant prerequisite unit/s, or you have covered relevant topics in your final years of secondary study. You should self-assess your maths competency prior to enrolling in this unit.
Equivalent units
The same content under another code. Only one of them counts.
Overview
This unit is designed to analyse the effect of money on the key economic variables such as interest rates, inflation, output and the workings of the banking sector. In addition, we'll also examine the roles commercial banks and the central bank play in the process of money creation and implementation of monetary policies. The unit also teaches an economic approach to interpret today's information and policy decisions that can help you to predict future events and the effects those events can have on your own decisions.
Offerings in 2026
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Caulfield | On campus |
Assessment
- Exercise20%
- Quiz / Test40%
- Project40%
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Learning outcomes
When you finish this unit, you should be able to:
- 1
understand the theoretical structure of an economy with particular emphasis on monetary policy formulation and implementation
- 2
understand the institutional structure of the banking system
- 3
analyse and predict the key economic variables when the economy is faced with real and nominal shocks
- 4
use an economic model to analyse policy measures.
Workload and teaching
- Workshops24 hours
- Teaching approachCase-based teaching
- Teaching approachProblem-based learning
- Teaching approachActive learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
This unit includes case-based teaching, where you apply your knowledge and engage in analytical and reflective thinking to solve complex contextual scenarios. Activities are often designed so that there is not one clear answer, but you need to work together to examine, analyse and make decisions to resolve the situation.
This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Learning resources
Required resources
Mishkin, Frederic S. Mishkin. The Economics of Money, Banking and Financial Markets, 12th Edition. Pearson.
Where it fits
ECF3143 is part of 1 area of study in the 2026 handbook.
Contacts
- Chief Examiners
- Dr Qingyuan Du
Common questions
What are the prerequisites for ECF3143?
You need (ECC1000, ECW1101, ECF1100 or ECB1101) and (ECC2010, ECB2330, ECW2730 or ECF2331) before you enrol. Enrolment rules also apply.
When is ECF3143 offered?
In 2026, ECF3143 runs in Semester 2 at Caulfield.
How much work is ECF3143?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECF3143 have an exam?
No. ECF3143 has 3 assessment tasks and no exam.
Which majors and minors include ECF3143?
ECF3143 is part of Economics and business strategy.