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

4.9
stars
1,295 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

BG
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.

PM
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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301 - 325 of 350 Reviews for Economics of Money and Banking

By Josemartin C

Dec 24, 2018

It was great!

By Sebas G

Apr 26, 2018

indispensable

By Alejandro J A

Jan 5, 2018

Excellent!!!!

By João P C d C

Jun 21, 2020

Baita curso!

By Saran P

Apr 14, 2018

Good course!

By George G

Jun 7, 2017

Excellent!!!

By Ariel A M G

Jul 18, 2020

good course

By Bolian C

Jan 1, 2017

Excellent!!

By Deleted A

Sep 9, 2021

Great job!

By Grigoris K

Nov 21, 2020

Excellent!

By Holger R

Sep 4, 2017

Very good.

By 彭小杰

Mar 8, 2017

wonderful!

By Mohamed A R

Oct 26, 2020

very nice

By Zaza G

Aug 13, 2020

Excellent

By Javier N

Sep 9, 2017

Wonderful

By Evaldas J

Nov 24, 2021

AMAZING

By Otar K

May 5, 2017

Sublime

By Ziqi C

Jul 11, 2021

Nice!

By Taras V

Jan 17, 2018

A

f

t

e

r

By HEYRAMB T

Aug 22, 2019

Nice

By Eray

Jan 26, 2017

good

By EMMANUEL Q

Oct 18, 2016

goo

By Nusrat J

Jul 22, 2020

I

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.