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

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


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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201 - 225 of 378 Reviews for Economics of Money and Banking

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 Isha S

Feb 28, 2022

I learnt a lot through this course. Was extremely inspired by the Professor.

By Harish

May 19, 2020

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


May 11, 2019


By 洪承恩

Jan 11, 2023


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.

By Krasiuk V R

Aug 25, 2021

This is actually the best course about banking. No comments needed.

By Angel N

May 21, 2020

This Course is Robust yet Precise. Quality Lectures in simple terms

By Stuart P

Oct 18, 2021

Perry's teaching is fantastic and I thoroughly enjoyed the course.

By zaki z k

Jun 25, 2020

very clear, I just open my eyes to see how global economics works.

By Silvina C

Aug 29, 2017

Great course, i really like how he started each class with the FT.

By Ricardo A

Aug 26, 2022

Great. Unique complete review of modern money markets. Thank you.

By Victor A M T

Jun 7, 2020

Excelente para quienes quieran iniciarse en el mundo de la banca.

By Dante M

May 4, 2021

Really interesting course and well explain by professor Mehrling