Enroll Course: https://www.coursera.org/learn/money-banking
Introduction
In today’s turbulent economic landscape, understanding the complexities of our monetary system has never been more crucial. The course Economics of Money and Banking, offered on Coursera, seeks to bridge this gap by providing invaluable insights into the evolution of monetary institutions and the analytical frameworks that govern them.
Course Overview
Produced by the Institute for New Economic Thinking, this course addresses the shortcomings in conventional economic theories that have surfaced, especially in light of the financial crisis of 2007-2009. With an analytical apparatus that blends both historical context and contemporary relevance, this course offers a fresh perspective on monetary economics.
Syllabus Breakdown
The course begins with an introduction that sets the stage for understanding the monetary system as the backbone of a decentralized market economy. Notably, the “Natural Hierarchy of Money” lecture serves as an overview, preparing students for deeper examination later. This is especially beneficial for those new to the subject.
The balance sheet approach is introduced, providing a vital tool for understanding monetary economics. This technique will recur throughout the course, proving fundamental to the learning experience.
As we delve into banking as both a clearing system and a market-making function, students will gain a nuanced understanding of the roles banks play in facilitating liquidity in the markets. Concepts such as funding liquidity and market liquidity come to the forefront, illustrating how these dynamics shift, particularly post-2008 crisis.
The lectures extend their scope to international banking, linking the local and global perspectives of money flows, and identifying the mechanisms that drive exchange rate determinants in dealer markets.
The midterm review offers an opportunity for students to solidify their understanding before progressing. This structured approach is commendable and helps build a strong foundation for the more advanced topics that follow.
In the final modules, the course culminates in a holistic view of the monetary system’s operations, drawing connections between theory and real-world applications. The final exam tests comprehension while emphasizing the practical implications of the “money view” thinking.
Conclusion
The Economics of Money and Banking course on Coursera is a must for anyone interested in understanding the intricate mechanisms of the monetary system. It is particularly relevant for students of economics, finance professionals, or anyone looking to deepen their understanding of monetary policy.
The course is well-structured, intellectually stimulating, and provides real-world applicability of concepts taught.
Recommendation
If you’re looking to strengthen your knowledge base in economics, especially in the nuances of money and banking, I highly recommend enrolling in this course. You will walk away with a better understanding of how economic policies affect everyday life and global markets.
Enroll Course: https://www.coursera.org/learn/money-banking