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

4.9
stars
1,433 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

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.

AK

Nov 17, 2017

This course is really useful to me ... I was always interested on monetary and fiscal policies and associate mechanism in Macroeconomics and this course covers the Monetary part in good details.

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326 - 350 of 378 Reviews for Economics of Money and Banking

By Alejandro A

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Jan 5, 2018

Excellent!!!!

By João P C d C

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Jun 21, 2020

Baita curso!

By Saran P

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Apr 14, 2018

Good course!

By George G

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Jun 7, 2017

Excellent!!!

By Ariel A M G

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Jul 18, 2020

good course

By Bo-Lian C

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Jan 1, 2017

Excellent!!

By Thaumaturge I

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Aug 23, 2022

Excellent!

By Deleted A

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Sep 9, 2021

Great job!

By Grigoris K

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Nov 21, 2020

Excellent!

By Holger R

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Sep 4, 2017

Very good.

By 彭小杰

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Mar 8, 2017

wonderful!

By Luis R I

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Dec 23, 2022

Excelent!

By Ferdous B

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Dec 5, 2022

fantastic

By Mohamed A R

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Oct 26, 2020

very nice

By Zaza G

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Aug 13, 2020

Excellent

By Javier N

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Sep 9, 2017

Wonderful

By Evaldas J

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Nov 24, 2021

AMAZING

By Otar K

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May 5, 2017

Sublime

By Aditya A T

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Nov 7, 2022

great

By Ziqi C

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Jul 11, 2021

Nice!

By Taras V

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Jan 17, 2018

A

f

t

e

r

By HEYRAMB T

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Aug 22, 2019

Nice

By Eray

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Jan 26, 2017

good

By EMMANUEL Q

•

Oct 18, 2016

goo

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