ECN205 - The History of Money

Outline information
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Last revision date Jun 3, 2019 12:07:18 AM
Last review date Aug 2, 2019 12:15:05 AM

Subject Title
The History of Money

Subject Description
Many perceive money as natural phenomenon which has been in existence forever.  Yet money is a human invention like the creation of the wheel or manufacture of the computer chip.  The concept of money is a powerful one and forms the basis of the world's financial system.  Like oil in an engine, money ensures that our modern global economy runs smoothly.  This course will cover the origins of money and explore how it fostered the present global monetary structure of banking, bonds, stocks and insurance.

Credit Status
One General Education elective credit in the Sciences and Social Sciences category.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

  1. Discuss the conditions in which state and market controlled economies create an inherent tension in the global financial system. 
  2. Discuss the historical origins of money to show the transitory value of currency.
  3. Examine the rise of modern banking and its importance as provider of credit in the economy.
  4. Analyze the ways in which the bond market impacts the economic and political spheres of the nation state.
  5. Describe the influence of “irrational exuberance” on the global stock markets.
  6. Examine property ownership in the international economy in relation to its impact on enabling economic downturn and turmoil.
  7. Analyze modern insurance as an attempt to mitigate economic and personal risks.
  8. Describe the interconnected global financial structure’s broad implications for society as a whole.

Essential Employability Skills
Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfils the purpose and meets the needs of the audience.

Respond to written, spoken, or visual messages in a manner that ensures effective communication.

Use a variety of thinking skills to anticipate and solve problems.

Analyze, evaluate, and apply relevant information from a variety of sources.

Show respect for diverse opinions, values, belief systems, and contributions of others.

Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals.

Manage the use of time and other resources to complete projects.

Take responsibility for one's own actions, decisions, and consequences.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecacollege.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.