Economics (ECON) 385

Money, Banking, and Canadian Financial Institutions (Revision 6)

ECON 385 course cover

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Delivery Mode: Individualized study (with eTextbook)

Credits: 3

Area of Study: Social Science. Econ 385 can be used as Applied Studies (Business and Administrative Studies) by credential students only.

Prerequisite: ECON 248

Centre: Faculty of Business

ECON 385 has a Challenge for Credit option.

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ECON 385 examines the important roles that money, banking, and financial institutions play in the economy, and assesses wide-ranging institutional changes that affect banking and financial systems. This course reviews recent changes in the Canadian and world financial systems, and provides a theoretical framework with which to analyze problems such as bank failures, regulatory reform, the debt crisis, and the internationalization of financial transactions that affect all sectors of the Canadian economy.


The course consists of the following six units.

  • Unit 1: The Nature and Evolution of Money and Payments Systems
  • Unit 2: Financial Markets
  • Unit 3: Canadian Financial Institutions
  • Unit 4: The Management of Financial Institutions
  • Unit 5: Central Banking and the Conduct of Monetary Policy
  • Unit 6: International Finance and Monetary Policy


Your final grade is determined by a weighted average of the grades you receive on the following activities. To receive credit for this course, you must achieve a minimum grade of 50 percent on the final examination, and an overall grade of at least D (50 percent) for the entire course.

Activity Grade Weight
6 Quizzes (5% each) 30%
2 Assignments (8% each) 16%
2 Research Questions (2% each) 4%
Final Exam 50%
Total 100%

The final examination for this course must be taken online with an AU-approved exam invigilator at an approved invigilation centre. It is your responsibility to ensure your chosen invigilation centre can accommodate online exams. For a list of invigilators who can accommodate online exams, visit the Exam Invigilation Network.

To learn more about assignments and examinations, please refer to Athabasca University's online Calendar.

Course Materials


Registration in this course includes an electronic textbook. For more information on electronic textbooks, please refer to our eText Initiative site.

Mishkin, F. S., & Serletis, A. (2020). The economics of money, banking, and financial markets. (7th Can. ed.). Pearson. ISBN 9780135239469

A print version of the eText may be available for purchase from the publisher through a direct-to-student link provided on the course website; you can also acquire the textbook on your own if you wish.

Other Resources

All other learning resources will be available online.

Challenge for Credit Overview

The Challenge for Credit process allows you to demonstrate that you have acquired a command of the general subject matter, knowledge, intellectual and/or other skills that would normally be found in a university-level course.

Full information about Challenge for Credit can be found in the Undergraduate Calendar.

Challenge Evaluation

To receive credit for the ECON 385 challenge registration, you must achieve a grade of at least 50 percent on the examination.

Online Exam (3 hours)

Undergraduate Challenge for Credit Course Registration Form

Athabasca University reserves the right to amend course outlines occasionally and without notice. Courses offered by other delivery methods may vary from their individualized-study counterparts.

Opened in Revision 6, January 27, 2021.

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