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Learner Reviews & Feedback for Economics of Money and Banking by Columbia University

1,078 ratings
296 reviews

About the Course

The last three or four decades have seen a remarkable evolution in the institutions that comprise the modern monetary system. The financial crisis of 2007-2009 is a wakeup call that we need a similar evolution in the analytical apparatus and theories that we use to understand that system. Produced and sponsored by the Institute for New Economic Thinking, this course is an attempt to begin the process of new economic thinking by reviving and updating some forgotten traditions in monetary thought that have become newly relevant. Three features of the new system are central. Most important, the intertwining of previously separate capital markets and money markets has produced a system with new dynamics as well as new vulnerabilities. The financial crisis revealed those vulnerabilities for all to see. The result was two years of desperate innovation by central banking authorities as they tried first this, and then that, in an effort to stem the collapse. Second, the global character of the crisis has revealed the global character of the system, which is something new in postwar history but not at all new from a longer time perspective. Central bank cooperation was key to stemming the collapse, and the details of that cooperation hint at the outlines of an emerging new international monetary order. Third, absolutely central to the crisis was the operation of key derivative contracts, most importantly credit default swaps and foreign exchange swaps. Modern money cannot be understood separately from modern finance, nor can modern monetary theory be constructed separately from modern financial theory. That's the reason this course places dealers, in both capital markets and money markets, at the very center of the picture, as profit-seeking suppliers of market liquidity to the new system of market-based credit....

Top reviews


Jul 17, 2017

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.


Jun 27, 2020

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.

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251 - 275 of 291 Reviews for Economics of Money and Banking


Sep 14, 2020

superb course

By Jose M C

Dec 24, 2018

It was great!

By Sebas G

Apr 27, 2018


By Alejandro J A

Jan 06, 2018


By João P C d C

Jun 22, 2020

Baita curso!

By Saran P

Apr 14, 2018

Good course!

By George G

Jun 07, 2017


By Ariel A M G

Jul 18, 2020

good course

By Bolian C

Jan 02, 2017


By Holger R

Sep 04, 2017

Very good.

By lingjie p

Mar 09, 2017


By Zaza G

Aug 13, 2020


By Javier N

Sep 09, 2017


By Otar K

May 05, 2017


By Taras V

Jan 18, 2018







Aug 22, 2019


By Eray

Jan 26, 2017


By Issah Q

Oct 18, 2016


By Nusrat J

Jul 22, 2020


By Jacqueline K

Aug 25, 2020

Having not been present in money, finance or the world of economics for some time the first couple weeks of this course were rather intimidating. As the weeks progressed and the progression of the course became more clear, I found the course very interesting and insightful. I took this course as a personal interest course and not as a "credit" course and learned a great deal not only about the differing views regarding money, but also about the events surrounding money and the powers of banks.

By Biagio B

Jul 16, 2017

Overall I really liked the course. Many real world examples are provided, the course covers all topics mentioned during the examples and it gives you insight in many world's banking mechanism. Negative aspects: too long, some chapter can be cut off, you need a minimum background in economics to fully enjoy the course.

By 肖均

May 10, 2020

The content of this course is very relevant to the real-world financial system, and provide an alternative way to understand how the financial system works and how they relate to each other. This is the biggest difference from those standard books of the money and bank. Overall, it is a very good course.

By Поморина М А

Oct 28, 2019

The course content is very interesting and provides a broad view of the history of the development of the theory of money and banking.

However, tests are not always correct. The choice of answer is often ambiguous. We need slides that briefly present the essence of the problems under consideration.

By Maximilian S

May 27, 2020

I learned so much about an important topic and Prof. Mehrling keeps you interrested in the course throughout all lectures. I enjoyed the connection to the real world through the real world examples. Just 4 stars, because I missed some balance sheet quizes or more mathematical questions