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

4.9
stars
1,690 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

SS

Dec 5, 2020

Very well explained and easy to follow for a non-finance/economics person. If you want to have a deeper understanding of the Financial Times or The Economist, I highly recommend this course.

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.

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376 - 400 of 446 Reviews for Economics of Money and Banking

By Enrique M B

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Feb 19, 2025

Great course!

By Mathi S

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Sep 8, 2024

its very good

By Joel R V

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Sep 14, 2020

superb course

By Josemartin C

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Dec 24, 2018

It was great!

By Sebas G

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Apr 26, 2018

indispensable

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 13, 2018

Good course!

By George G

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Jun 7, 2017

Excellent!!!

By Rafael R

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May 3, 2024

Phenomenal.

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 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 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