An intellectually engaging course opening a debate about how we think about markets and how we should tackle the current challenges. Accessible to non-economists. I warmly recommend it to everyone.
Extremely helpful is understanding the money view of banking system. One of the best courses. A small suggestion - it can be interspersed with more examples especially from the emerging markets.
By Fahad Y•
Excellent explanation of the way money moves the world we live in today. Brilliant professor who's passion and depth of understanding adds to the fascination of the world of money & banking.
By Faisal n K•
I have learned a lot from this course. This course has completely changed the way I see economy and finance. I remeber once warren buffet said in his AGM"few teachers can completely changed the way you see world for me it was ben graham".professor mehrling could be my ben graham. It was evident from professors lectures the amazing knowledge and skills he has. Specially the way professor interprets FT articles is superb.Sometimes this course do get tough and confusing and to clear that confusion you have to revise old lectures. This course has helped me to get better understanding of how global financial system works
By Vatsal G•
Working at a bank, I realized that economics and finance are in reality more driven by liquidity and money hierarchy than fundamental values. This course has given a very practical perspective on how the entire system evolved. The economics and finance they teach in schools need to come over the assumptions of perfectly liquid markets. The world is different. Let them prepare the coming generation about this since early age.
By Kevin S•
Super insightful, I wasn't able to do a course in Money and Banking in university and I'm very glad I got to do this updated view on how banking works in the modern age. Excellent course
By Brad H•
Professor Mehrling is fantastic. I found this course supremely interesting, and I learned an incredible amount from it. I would venture to say that most have not taken an economics course like this one before. This definitely felt like a real college course.. 13 weeks of lecture, 2.5-3 hours of lecture each week. I believe Professor Mehrling said in-class that the two prerequisites for this course (for Columbia University students, not Coursera users) are Intermediate Micro and Intermediate Macro, so the course is definitely fairly high-level. To put it into perspective, I was an Accounting/Finance major with Econ minor and have CPA/CFA. So while not "trained" in economics, I've had a fair amount of exposure, but I definitely felt intellectually challenged and frequently had to relisten to parts of lectures. Definitely recommend this course! Learned something every minute of every lecture.
By Georgios D•
Although I hold a BSc in Economics and an MBA, I have to admit that before taking this mooc I only had some vague macro-based ideas about the actual mechanics of banking. This mooc is an eye opener to the realities of our modern money & credit markets and institutions. I finally understood some heavilly complicated concepts, like derivative financial instruments, that are presented in a manner that builds intuition easily around their usefulness as tools, despite their heavy quant mathematics that always deterred me!
By Damon W•
Learned a lot from this even though I should have taken a derivatives course beforehand to understand forwards, swaps etc a bit better as they were discussed. I now feel I have a good understanding of the banking system as a whole and how it succeeds and fails. Also gave some good food for thought on how to better regulate and manage the system going forward. I took this course as the coronavirus pandemic pricked the asset bubble and inspired yet another financial crisis. It was remarkable how many of the things he was discussing from the GFC are still a problem today and for much the same reasons!
By alex h•
I found this to be an excellent introduction to how modern banking works. If this class grows increasingly popular, go long whatever company sells chalk because the professor consumes quite a bit as he sketches out a seemingly infinite number of T-accounts to illustrate the trading of money through multiple markets, including Fed Funds, EuroDollar, Repo, Swap and FX. By the end of the class, you get a good sense for the plumbing behind markets, and develop an alternative and practical view of what drives asset prices than what you perhaps learned studying economic or financial theory. You also gain an appreciation for how big shadow banking is globally, how all money is not created equal, and how the value of any asset can change drastically through the mechanics of the dealer system as investors discover this point.
By Carlos C•
Most comprehensive course I have taken regarding Money and how it interacts with the economy. Having studied Economics as my undergrad, I was very disatisfied with the Monetary Policy course I took (the only one where we got the chance to see how Money interacts with the economy), because of its simplicity and "Jimmy Stewart" banking form of teaching, as Professor Mehrling usually refers to during this course. Congratulations and thanks for teaching me lots of important things I never heard during my career! Every Econ major should definitely take this course (even if you graduated), if you want to understand how the financial system really works, what is the real function of the Central Bank, and how we have evolved from the rupture of Bretton Woods in 1971!
By Alfonso G Y•
It is a pleasant, agile, instructive course that brings a new vision of the interaction between economic, financial and monetary stuff. Perry Mehrling is exemplary, a teacher who reflects that he loves what he does. The dedication in each lesson, the contribution of material in the form of readings and the way classes are taught (with the use of slate and chalk included!) is increasingly unusual in today's times.
By BHAVYA K•
I think EMB is the best course out there if you'd like to learn how money markets and capital markets interact in the modern times. This is something very unlike what is taught in your regular macro or fin courses, which will start making much more sense after you've done well in this course. Highly recommended.
The concept of 'money view' was totally different, and very helpful to understand modern economy events. My major is Economics, but compared with what I've learned in my school, this course was a lot more realistic than any lectures in my school.
By Food a A O o t U•
The course was really interesting. The professor`s knowledge is really deep and his explanations and examples are very good. I really enjoyed this course, It gave me a different perspective on the money market.
By Giorgio G•
Fantastic content, it explains how banks work behind the scenes and many intricacies of the current financial system. Super suggested even to those who don't have a financial background.
By giuseppe t•
Superb course, taught by a superb professor. It provides you with all the nuances and the intellectual stimulus to dig further deep into money markets, banking and finance.
By Vishwesh R•
Some really complex topics explained in really simple and fundamental terms
By Manan M•
The course needs to be updated with time.
By Hector N•
Very interesting perspective on money and banking and the link between the two. A few suggestions for improvement: (a) make real e-lectures, not just take-outs from lectures, (b) provide a textbook (the lecture notes are mediocre), and (c) clarify what the course structure is.
By José G F Q d A•
This is a truly superb course, probably unique in its breadth, depth and realistic, fact-based approach to teaching money and banking. I particularly liked the systematic use of balance sheets for the presentation of the materials, the emphasis on History and institutions to understand the contemporary banking system, the explanations on the hierarchy of money and credit and of how all banking is essentially an exchange of IOUs (mostly created from thin air). The transition from traditional banking to shadow banking is very well explained. The role of the Fed as a liquidity backstop for the financial system, the eurodollar as a source of global funding and the causes of the financial crisis are all clearly presented. I'm now eagerly waiting for an updated version of the course, since the recorded lectures are from late 2012.
By Arnab R•
I am not a student of economics yet always believed I had the intuitive sense to understand it. So I dared to take this 13 week course adding excessive discipline over elasticity so that I complete it . There were times I had to replay the videos multiple times to pick the finer points. Times I had to google to understand terms like budget line, possibility frontier , covered interest parity etc. I did not mind it at all because the entire course was so inspiring, so full of knowledge that I was ready to put all my heart to grasp it. The course is superb, the instructor Perry is definitely one among the world's best teacher. Since I started studying as a 3 year old- this is the among the 3 or 4 courses that will influence my thinking the most. Thankyou , thankyou. This certificate is my prized collection.
By Alexandre Z R•
I did in my local university a course in Monetary Economics and then I did this. This course it's not a traditional course, if you know previously something about it, you will recognize this is a lifetime work of investigation, theorization, of a academic passion about how this trully work in markets. It's not a easy course, I have to repeat many weeks to get along. But Professor Mehrling structured the course with reading materials that give you a broader understading, he uses real data to explain and exemplify, he reads FT and discuss. I'm so grateful for this course, before that I used to think I knew monetary system. Now that I know much more I'm aware of my ignorance. Hope some day he make another course, or just update this one with the new events in the central baking world.
By hiroo y•
It starts very simple, but this is really a profound course. Begining from "what is money", it looks into classic banking, how things changed in the shadow banking system, what money markets do and how the players operate, especially the role of market making brokers. If you have some economics and/or finance back ground, this will have your views stand on their head, and then come back on their feet. You will have a changed view on central banking. I don't think anyone can completely absorb this in one go, but it will provide really stimulating and eye opening views on every section of the lecture.
By Nicolas H•
While the course presupposes a state and underconceptualizes or rather even ignores the law it still is the go to online course for anyone interested in the phenomenon that probably is as misunderstood as it is often mentioned: money. Specifically "global money". Perry has amazing teaching skills, too. You can tell he not only has taught this course a lot of times but he also loves what he's doing and keeps on getting an even better teacher. I've done this course multiple times and will probably keep doing it. There is so much in here to learn and to more deeply understand...
By Dhruba D•
Economics and Finance have always been explaining theories and concepts to students. Often when thought back/pondered upon, the theories are unable to explain all the queries of real life.
This course stitches through all the theories and present a very well thought out and a complete picture of the financial world. A very unique perspective and a rare perspective at that.
Highly recommended that you register and pay for this course. As it makes the learning so much more interesting, intriguing and gives us so much understanding of the money view of the financial world.
By Constantin B•
Extremely interesting course where no financial specific skills or knowledge is required to capture the essential aspects of each lecture. It really helped me to connect economic aspects together with financial ones learned during university studies. Furthermore, it provided me many new key insights on how the money and banking system works as well as monetary policy. I also strongly suggest it because the professor is absolutely immersive and addictive thanks to his genuine passion for these topics and desire to teach them. Thanks a lot for this great opportunity!