Description
Prerequisite BSM300. For anyone in business it is important to understand the influence that the banking system has upon interest rates, economic growth, and price and employment stability. This course covers the banking system, credit, money and interest rates, and the interrelationship between the domestic and international financial institutions. The course begins by studying monetary systems from 5000 BC to modern times. Students learn how our economies evolved from barter societies to new forms of money such as credit cards and electronic funds transfer. Next, the course presents the commercial banking systems in the U.S. and foreign countries. Then the course covers the role of the Federal Reserve System?s and other nations? central banks in influencing a country?s economic status. Then a more detailed analysis of bank operations is presented and the analysis is expanded to other types of financial institutions such as savings banks, credit unions, mortgage companies and governme