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

4.9
stars
1,632 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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426 - 430 of 430 Reviews for Economics of Money and Banking

By Elaine C

•

Dec 28, 2021

i want to unenroll from this course however there is no option to "leave course". the only option here after clicking the three dots is to "rate course".

By Shavar W

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Jul 25, 2022

I would like to cancel this course. I accidentally enrolled in this course, and, currently no longer interested.

By VIALA C

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Mar 10, 2017

It is tottaly unacceptable to have to pay to pass quizz !!!

I cancel my participation

By Suraj P

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Jul 10, 2020

Confusing lecture. Explanation is not proper.Its mix up.

By Shubham K

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Jun 5, 2020

Currently not in my use