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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

UP

Aug 14, 2017

Probably the best course I've ever taken! The money view approach is very unique in itself. Professor Mehrling's old school way of teaching is very refreshing indeed!

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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351 - 375 of 446 Reviews for Economics of Money and Banking

By GURCHINT P S

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Jun 2, 2024

AMAZING KNOWLEDGE.

By Pallab M

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Feb 6, 2024

Outstanding course

By Omar F

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Dec 24, 2019

Excellent course !

By Pham T T

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Mar 17, 2017

really very good !

By Richard H

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Nov 27, 2016

Thanks Dr, Mehling

By Ádám T

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Oct 16, 2016

Very comprehensive

By Ricardo V

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Oct 11, 2023

Maravilloso curso

By Sven H

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Oct 28, 2020

Best course ever!

By Wang X

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Sep 4, 2017

Thanks very much!

By Peter K

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Aug 20, 2017

Excellent course.

By MANUEL P M

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Aug 21, 2024

Very good course

By Marcus C

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Feb 22, 2022

Excelent course!

By Ivan L

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Jul 2, 2019

Excelente curso.

By Jean-Charles G

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Apr 29, 2019

Very interesting

By kaustubh t

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Feb 16, 2019

so much to learn

By Shingo K

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Apr 7, 2018

very insightful!

By Maduvha N

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Oct 15, 2017

very informative

By MAURICIO W

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Aug 2, 2017

Very interesting

By Hussain A

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Nov 16, 2016

Excellent Course

By Савина О Д

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Dec 23, 2018

Awesome course!

By 陈香

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Oct 5, 2016

很熟悉的感觉，板书的老师很棒！

By Toyirov A

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Feb 18, 2025

goodkjghj.lkjh

By Chirag A 2

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Apr 20, 2023

amazing course

By Christian A

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Feb 28, 2021

Perry is a god

By Alexander

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Mar 31, 2017

Astonishing!=)