About this Course

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Approx. 33 hours to complete
English

Instructor

Learner Career Outcomes

38%

started a new career after completing these courses

25%

got a tangible career benefit from this course

14%

got a pay increase or promotion
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Flexible deadlines
Reset deadlines in accordance to your schedule.
Approx. 33 hours to complete
English

Offered by

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Columbia University

Syllabus - What you will learn from this course

Content RatingThumbs Up97%(7,627 ratings)Info
Week
1

Week 1

2 hours to complete

Introduction

2 hours to complete
12 videos (Total 124 min), 2 readings
12 videos
Prerequisites?7m
What is a Bank, a Shadow Bank, a Central Bank?12m
Central Themes13m
Reading: Allyn Young3m
FT: The Eurocrisis, Liquidity vs. Solvency10m
Hierarchy of Financial Instruments9m
Hierarchy of Financial Institutions6m
Dynamics of the Hierarchy6m
Discipline and Elasticity, Currency Principle and Banking Principle8m
Hierarchy of Market Makers9m
Managing the Hierarchy18m
2 readings
Lecture Notes (for download)10m
Allyn Young10m
Week
2

Week 2

3 hours to complete

Introduction, continued

3 hours to complete
20 videos (Total 130 min), 1 reading, 1 quiz
20 videos
Allyn Young: Money and Economic Orthodoxy9m
National Banking System Before the Fed3m
Civil War Finance, Bonds, and Loans8m
Civil War Finance, Legal Tenders7m
National Banking System, Origins6m
National Banking System, Instability5m
Federal Reserve System, Plan6m
Federal Reserve System, Actual6m
FT: Dealer of Last Resort5m
Reading: Hyman Minsky3m
Sources and Uses Accounts6m
Payments: Money and Credit5m
Payments: Discipline and Elasticity4m
The Survival Constraint3m
Payment Example: Money and Credit10m
Flow of Funds Accounts10m
The Survival Constraint, Redux2m
Liquidity, Long and Short9m
Financial Fragility, Flows and Stocks6m
1 reading
Hyman Minsky10m
1 practice exercise
Introduction30m
Week
3

Week 3

3 hours to complete

Banking as a Clearing System

3 hours to complete
20 videos (Total 125 min), 1 reading, 1 quiz
20 videos
One Big Bank8m
Multiple Banks, A Challenge3m
Reading: Charles F. Dunbar2m
Correspondent Banking, Bilateral Balances10m
Correspondent Banking, System Network3m
Clearinghouse, Normal Operations8m
Clearinghouse, Private Lender of Last Resort10m
Central Bank Clearing4m
Central Bank Cooperation5m
FT: European Bank Deleveraging5m
What are Fed Funds?5m
Payment Settlement versus Required Reserves1m
Payment Elasticity/Discipline, Public and Private9m
The Function of the Fed Funds Market9m
Payment versus Funding: An Example11m
Brokers versus Dealers2m
Payments Imbalances and the Fed Funds Rate7m
Secured versus Unsecured Interbank Credit5m
Required Reserves, Redux7m
1 reading
Dunbar10m
1 practice exercise
Banking as a Clearing System30m
Week
4

Week 4

3 hours to complete

Banking as a Clearing System, continued

3 hours to complete
20 videos (Total 131 min), 1 reading, 1 quiz
20 videos
Money Market Interest Rate Patterns3m
What is Repo?3m
Repo in Balance Sheets7m
Comparison with Fed Funds5m
Legal Construction of Repo9m
Security Dealers Balance Sheet11m
Repo, Modern Finance, and the Fed8m
Interest Rate Spreads: Before the Crisis5m
Interest Rate Spreads: After the Crisis8m
FT: Ring-fencing and the Volcker Rule9m
The Eurodollar Market in Crisis4m
What are Eurodollars?7m
Why is There a Eurodollar Market?4m
Eurodollar as Global Funding Market11m
Liquidity Challenge of Eurodollar Banks10m
FRA as Implicit Swap of IOUs4m
Forward Parity, Interest Rates, EH3m
Forward Parity, Exchange Rates, UIP5m
Forward Rates are NOT Expected Spot Rates2m
1 reading
Bagehot10m
1 practice exercise
Banking as a Clearing System, continued30m

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