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Economics of Money and Banking

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.

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Rating 4.8 based on 186 ratings
Length 14 weeks
Effort 13 weeks of study, 5 hours/week
Starts Jul 10 (43 weeks ago)
Cost $49
From Columbia University via Coursera
Instructor Perry G Mehrling
Download Videos On all desktop and mobile devices
Language English
Subjects Social Sciences Business
Tags Social Sciences Economics

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What people are saying

money and banking

That is a great classes :)))) After Great presentation of Money and Banking.Perry's introduction of a complex systems are very well delivered in simple peaces that all come together at the end.

Best course about money and banking in internet.

Contains detailed information on Money and Banking .

Though my brain still hurts when I engage with the subject matter, I feel the lectures have shone quite a lot of light on the obscurities of money and banking.

Very interesting perspective on money and banking and the link between the two.

This is a truly superb course, probably unique in its breadth, depth and realistic, fact-based approach to teaching money and banking.

A staple for those that want to understand the current mechanics of money and banking Challenging for someone like me with no economics background (other than the obligatory classes at university 20 years ago) but it's a well of knowledge and cleanly, conscisely presented.

The course content is very interesting and provides a broad view of the history of the development of the theory of money and banking.

Really fascinating course for a regular person to understand money and banking.

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professor mehrling

Professor Mehrling will make you connect the dots.

But Professor Mehrling structured the course with reading materials that give you a broader understading, he uses real data to explain and exemplify, he reads FT and discuss.

Thank you Professor Mehrling.

Professor Mehrling is an exceptionally charismatic educator and takes us through a journey that clearly explains the crisis and gives us an alternative view that might just help make finance clearer to anyone.

Fantastic course and Professor Mehrling is an incredible mentor with great insights Very good course, teacher is great and content is very insightful.On the less good side, students should not expect all concepts to be clarified from the beginning, so a good deal of research has to be self made.

Hope many more people using Coursera could have a look at the innovative ideas explained by Professor Mehrling in money market and finance.

Good MOOC with distinguished lecturer Professor Mehrling is fantastic.

I believe Professor Mehrling said in-class that the two prerequisites for this course (for Columbia University students, not Coursera users) are Intermediate Micro and Intermediate Macro, so the course is definitely fairly high-level.

Having studied Economics as my undergrad, I was very disatisfied with the Monetary Policy course I took (the only one where we got the chance to see how Money interacts with the economy), because of its simplicity and "Jimmy Stewart" banking form of teaching, as Professor Mehrling usually refers to during this course.

Professor Mehrling is outstanding.

Professor Mehrling is amazing at what he does!

I remeber once warren buffet said in his AGM"few teachers can completely changed the way you see world for me it was ben graham".professor mehrling could be my ben graham.

Professor Mehrling was excellent.

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very good

Wonderful Very good.

The teacher is very good and knows what he is talking about :) Amazing insights into the evolution and working of money markets.Last chapters tying to economic theory could have been more detailed Excellent!!!

Very good!

Very good course and excellent teacher!

This is a very good course, with a whole perspective about how the banking system works.

Very good additional resources.

Very Good Materials Good Amazing course to learn more about the nitty gritty of money markets that keep the world running!

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money markets

I highly recommend this course for the novice or advanced novice to the money markets.

Sublime Well structured course with an exceptionally insightful view of how the money markets works.

A brilliant course for those interested in an in depth understanding of how the money markets work.

I think EMB is the best course out there if you'd like to learn how money markets and capital markets interact in the modern times.

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shadow banking

The views expressed by Professor Perry Mehrling on shadow banking is what was most valuable for me.

Begining from "what is money", it looks into classic banking, how things changed in the shadow banking system, what money markets do and how the players operate, especially the role of market making brokers.

The transition from traditional banking to shadow banking is very well explained.

It also showed me how shadow banking is actually very useful and how the history of using money has developed over time and affects how we use money today.

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financial system

I have a much better understanding of the interconnected nature of today's global financial system and the mechanism by which money and risk are transferred from taking this course.

The role of the Fed as a liquidity backstop for the financial system, the eurodollar as a source of global funding and the causes of the financial crisis are all clearly presented.

Fantastic content, it explains how banks work behind the scenes and many intricacies of the current financial system.

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very well

This course stitches through all the theories and present a very well thought out and a complete picture of the financial world.

this is very well informative and well presented course 很熟悉的感觉,板书的老师很棒! Great material ... unlike any other course.

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so much

Thanks so much!

As it makes the learning so much more interesting, intriguing and gives us so much understanding of the money view of the financial world.

This course has helped me to get better understanding of how global financial system works Some really complex topics explained in really simple and fundamental terms so much to learn Simply the best.

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Careers

An overview of related careers and their average salaries in the US. Bars indicate income percentile.

Adjunct Faculty - Modern Languages View $14k

Freelance Columnist - Modern Southern Belle $28k

Columnist - Modern Southern Belle $38k

Modern Language Teacher $53k

Simonson Modern Jazz Instructor $60k

Associate Senior Theatre Department Coordinator and Modern Theatre Administrative Coordinator $70k

Business Director, Private Sales, Impressionist and Modern Art $83k

Senior Evening Sale Administrator, Impressionist & Modern Art $86k

Senior Monetary Analyst $90k

Assistant Professor, Chair, Dept. of Modern Languages $106k

Professor, Department of Modern Languages and Cultures $115k

Distinguished Professor, Chair, Dept of Modern Languages & Literatures $231k

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Rating 4.8 based on 186 ratings
Length 14 weeks
Effort 13 weeks of study, 5 hours/week
Starts Jul 10 (43 weeks ago)
Cost $49
From Columbia University via Coursera
Instructor Perry G Mehrling
Download Videos On all desktop and mobile devices
Language English
Subjects Social Sciences Business
Tags Social Sciences Economics

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