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

4.9
stars
1,619 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.

PK

May 28, 2020

The "Economics of Money and Banking" course provided an inspiring look on the modern international finance system. Definitely, recommending it for both newcomers and already experienced students.

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376 - 400 of 426 Reviews for Economics of Money and Banking

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 Tomas R

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Sep 24, 2020

muy beuno

By Zaza G

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Aug 13, 2020

Excellent

By Javier N

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Sep 9, 2017

Wonderful

By Shreyshth s

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Nov 12, 2024

loved it

By Evaldas J

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Nov 24, 2021

AMAZING

By Otar K

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May 5, 2017

Sublime

By loris b

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Oct 17, 2024

insane

By Francisco S

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Dec 24, 2023

Thanks

By Çağlar K

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Jun 9, 2023

goood

By aditya a t 1

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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

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r

By Mohammad Z M 2

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Apr 19, 2023

good

By Vinutha V 2

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Mar 18, 2023

good

By HEYRAMB T

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Aug 22, 2019

Nice

By Eray

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Jan 26, 2017

good

By EMMANUEL Q

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Oct 18, 2016

goo

By 名宏 鄭

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Aug 17, 2024

讚

By Nusrat J

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Jul 22, 2020

I

By Jacqueline K

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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.

By Biagio B

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Jul 16, 2017

Overall I really liked the course. Many real world examples are provided, the course covers all topics mentioned during the examples and it gives you insight in many world's banking mechanism. Negative aspects: too long, some chapter can be cut off, you need a minimum background in economics to fully enjoy the course.

By Jun X

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May 9, 2020

The content of this course is very relevant to the real-world financial system, and provide an alternative way to understand how the financial system works and how they relate to each other. This is the biggest difference from those standard books of the money and bank. Overall, it is a very good course.