Chevron Left
Back to Economics of Money and Banking

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

1,419 ratings

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 16, 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 26, 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.

Filter by:

351 - 375 of 375 Reviews for Economics of Money and Banking

By Biagio B

Jul 16, 2017

By Jun X

May 9, 2020

By Поморина М А

Oct 28, 2019

By Maximilian S

May 27, 2020


Dec 6, 2021

By Ryan K

Apr 27, 2018

By Julian H F

Feb 24, 2017

By umwoosung

Jan 9, 2017

By Daniel M D

Mar 30, 2021

By soto h

Jun 30, 2020

By Arti K

Jun 28, 2017

By Deleted A

Apr 23, 2020

By Yifei H

Jul 6, 2020

By Oludamilare A

Nov 22, 2018


Nov 17, 2021

By Miguel P

May 28, 2018

By Richard K

Oct 26, 2017

By Atul J G

Dec 4, 2016


Jan 18, 2017

By Louis L

Jul 2, 2018

By Elaine C

Dec 28, 2021

By Shavar W

Jul 25, 2022


Mar 10, 2017

By Suraj P

Jul 10, 2020

By Shubham K

Jun 5, 2020