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Unit Overview


This unit revises key definitions and measures used in the financial sector and uses them to examine recent developments in money, banking and financial markets, including an evaluation of policy responses to financial crises.

6 points
(see Timetable)
Semester 1UWA (Perth)Face to face
Details for undergraduate courses
  • Level 3 core unit in the Financial Economics major sequence
  • Level 3 option in the Business Economics; Economics major sequences
  • Level 3 elective

Students are able to (1) explain the operation of modern financial markets and their regulation, including the behaviour of the markets for a variety of financial instruments; (2) identify recent trends in financial markets and their causes and effects; (3) analyse institutional and regulatory changes in financial markets and the conduct of monetary policy since the global financial crisis in 2008; and (4) analyse the operation of financial markets and financial intermediaries and their effect on the economy.


Indicative assessments in this unit are as follows: (1) online quizzes; (2) online assignments; and (3) examination. Further information is available in the unit outline.

Student may be offered supplementary assessment in this unit if they meet the eligibility criteria.

Unit Coordinator(s)
Girish Bahal
Unit rules
ECON2234 Macroeconomics: Policy and Applications (or equivalent)
or any Level 2 Finance unit.
for pre-2012 courses: ECON1102 Macroeconomics: Money and Finance (or equivalent)
Contact hours
lectures/tutorials/seminars/workshops: up to 3 hours per week

Mishkin, F. S. The Economics of Money, Banking and Financial Markets, 11th Global Edition: Pearson 2016

  • The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
  • All students are responsible for identifying when they need assistance to improve their academic learning, research, English language and numeracy skills; seeking out the services and resources available to help them; and applying what they learn. Students are encouraged to register for free online support through GETSmart; to help themselves to the extensive range of resources on UWA's STUDYSmarter website; and to participate in WRITESmart and (ma+hs)Smart drop-ins and workshops.
  • Unit readings, including any essential textbooks, are listed in the unit outline for each unit, one week prior the commencement of study. The unit outline will be available via the LMS and the UWA Handbook one week prior the commencement of study. Reading lists and essential textbooks are subject to change each semester. Information on essential textbooks will also be made available on the Essential Textbooks. This website is updated regularly in the lead up to semester so content may change. It is recommended that students purchase essential textbooks for convenience due to the frequency with which they will be required during the unit. A limited number of textbooks will be made available from the Library in print and will also be made available online wherever possible. Essential textbooks can be purchased from the commercial vendors to secure the best deal. The Student Guild can provide assistance on where to purchase books if required. Books can be purchased second hand at the Guild Secondhand bookshop (second floor, Guild Village), which is located on campus.
  • Contact hours provide an indication of the type and extent of in-class activities this unit may contain. The total amount of student work (including contact hours, assessment time, and self-study) will approximate 150 hours per 6 credit points.