Chevron Left
Back to Economics of Money and Banking

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

4.9
stars
1,389 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.

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.

Filter by:

1 - 25 of 372 Reviews for Economics of Money and Banking

By Fahad Y

Jan 25, 2019

By Faisal n K

Mar 24, 2019

By Vatsal G

Apr 6, 2019

By Brad H

Dec 13, 2016

By Kevin S

Oct 7, 2017

By Georgios D

Aug 30, 2019

By Barbara G

Jul 17, 2017

By Jason H

Oct 6, 2021

By Damon W

Apr 18, 2020

By Aparajita K

Nov 17, 2017

By Prathamesh M

Jun 27, 2020

By Giorgio G

Oct 13, 2019

By Fabio M

Mar 6, 2021

By Alex H

Dec 3, 2016

By Carlos C

Jan 23, 2020

By hiroo y

Aug 12, 2017

By Constantin B

Sep 6, 2020

By Alfonso G Y

May 30, 2020

By Bhavya K

Jul 2, 2019

By choice_yun

Jul 30, 2020

By Food a A O o t U

Jul 11, 2020

By Shawn S

Dec 6, 2020

By giuseppe t

Sep 6, 2020

By Vishwesh R

Mar 10, 2019

By Manan M

Oct 10, 2020