Enroll Course: https://www.coursera.org/learn/money-banking
In today’s rapidly evolving financial landscape, understanding the intricacies of money and banking is more crucial than ever. The course ‘Economics of Money and Banking’, offered on Coursera and produced by the Institute for New Economic Thinking, provides a comprehensive exploration of the modern monetary system, its evolution, and the analytical tools necessary to navigate it.
### Course Overview
The course spans several decades of monetary evolution, particularly highlighting the lessons learned from the financial crisis of 2007-2009. It aims to revive and update some of the forgotten traditions in monetary thought, making it a timely and relevant study for anyone interested in economics.
### Syllabus Breakdown
The course is structured into several modules that build upon each other:
1. **Introduction**: The initial lectures set the stage for understanding the monetary system as the backbone of a decentralized market economy. The concept of the ‘Natural Hierarchy of Money’ is introduced, providing a high-level overview that will be revisited throughout the course.
2. **Banking as a Clearing System**: This module delves into the role of banking as a payments system, emphasizing the importance of daily settlement constraints and the evolution of money markets since the 2008 crisis.
3. **Banking as Market Making**: Here, the course explores how banks function as dealers in money, absorbing imbalances in payment flows and the critical role of central banks during financial crises.
4. **International Money and Banking**: This section extends the discussion to the international monetary system, examining how banks operate in foreign exchange markets and the determination of exchange rates.
5. **Banking as Advance Clearing**: The focus shifts to capital markets, where the price of risk is determined in dealer markets, providing insights into swaps and other financial instruments.
6. **Money in the Real World**: The final module integrates all previous concepts, demonstrating how the money view can be applied to real-world problems, including shadow banking and its implications.
### Learning Experience
The course is designed to be engaging and thought-provoking, with a mix of lectures, readings, and assessments that encourage active participation. The midterm and final exams serve as checkpoints to ensure mastery of the material, while the review lectures help consolidate understanding.
### Recommendation
I highly recommend the ‘Economics of Money and Banking’ course for anyone looking to deepen their understanding of monetary economics. Whether you are a student, a professional in finance, or simply someone interested in the workings of the economy, this course offers valuable insights that are applicable to real-world scenarios. The balance sheet approach and the emphasis on market-making provide a fresh perspective that is particularly relevant in today’s financial environment.
In conclusion, this course is not just about learning theories; it’s about applying new economic thinking to understand and navigate the complexities of the modern financial system. Enroll today and start your journey into the fascinating world of money and banking!
Enroll Course: https://www.coursera.org/learn/money-banking