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

1,297 ratings
354 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 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.

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176 - 200 of 350 Reviews for Economics of Money and Banking


May 16, 2020

It is an eye opener for me essentially as regards how banking system works in our world

By Rene F

Dec 8, 2019

A staple for those that want to understand the current mechanics of money and banking

By Gustavo G

Oct 29, 2018

Es excelente. Por su teoría, por su fundamentación y por la metodología de enseñanza.

By Ruperto U

Mar 18, 2021

Really interesting topic and very well explained by Prof. Mehrling. Congratulations

By Panchio R

Apr 4, 2019

Such great and complete course. Professor extremely professional and knowledgeable.

By Alexander L R Y

Mar 3, 2017

Fantastic course and Professor Mehrling is an incredible mentor with great insights

By Kingtau M

Sep 15, 2020

I enjoyed learning from this course. The lecturer is truly an expert in his field,

By Dmitriy H

Aug 6, 2017

Excellent course providing in-depth understanding of modern finances and banking.

By Cagdas R O

Jan 11, 2017

awesome professor interesting lectures thank you columbia university and coursera

By Waqas A W

Apr 6, 2021

best course of economics and finance, love it so much

Thanks a lot Coursera Team

By Jimena M M

Oct 14, 2018

AS an economist working in external statistics at the national bank of Belgium

By Beau B

Jan 18, 2017

One of the most interesting and fascinating courses I've watched on Coursera!

By Harish

May 19, 2020

The Course was very useful and it was interesting learned lot of new things.


May 11, 2019


By José R P V

Jul 26, 2020

Thank you so much, professor Mehrling. It was such an very interest course!

By Alexandre P

May 1, 2020

A very interesting course ! A little bit difficult but very interesting !

By Víctor F R

Jul 15, 2020

it suppose a true challenge for everybody who wants learn about banking

By Roberto A

Apr 24, 2018

great teacher great understanding , but do you have courses on spanish?

By Phillip S W

May 11, 2021

A very interesting subject but many to be covered and understood well.

By Albert A B

Apr 16, 2021

best professor ever, explains it very straightforward and common sense

By Oleg

Aug 5, 2019

Unbelievable course, one of the most enlightning! Thank you very much!

By Ibrahim N

Sep 4, 2018

The best course on my entire Coursera experience. Really recommend it.


Apr 17, 2021



By Franklin M

Apr 9, 2017

Fantastic, it is rare to found a course as profound as this in a MOOC

By Ricardo C

Sep 18, 2016

Great course! Essential for anyone working in finance and economics.