Economics of Money and Banking
The institutions that make up the current monetary system have undergone a significant transformation during the last three or four decades. The financial crisis of 2007-2009 served as a wake-up call that the analytical apparatus and theories we use to comprehend that system need to evolve as well. This course, produced and supported by the Institute for New Economic Thinking, is an attempt to start the process of new economic thinking by resurrecting and updating certain neglected but increasingly relevant traditions in monetary philosophy.
The new system has three main features:
Most importantly, the fusion of previously independent capital and money markets has resulted in a system with new dynamics and vulnerabilities. The financial crisis exposed those flaws for everyone to see. The result was two years of desperate experimentation by central bankers as they tried one thing after another to stop the collapse.
Second, the global nature of the crisis has revealed the system's global nature, which is novel in postwar history but not at all novel in a longer time frame. The cooperation of central banks was crucial in averting the collapse, and the specifics of that cooperation point to the beginnings of a new international monetary order on the horizon.
Third, the operation of significant derivative contracts, particularly credit default swaps and foreign exchange swaps, was absolutely fundamental to the crisis. Contemporary money cannot be understood without understanding modern finance, and modern monetary theory cannot be formed without understanding modern finance. That is why this course positions dealers at the very center of the picture, as profit-seeking suppliers of market liquidity to the new system of market-based credit, in both capital and money markets.
This course offers:
- Shareable Certificate: Earn a Certificate upon completion
- 100% online courses: Start instantly and learn at your own schedule.
- Flexible Schedule: Set and maintain flexible deadlines
- Approx. 33 hours to complete
- Subtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, German, Russian, English, Spanish, Japanese
Coursera Rating: 4.9/5
Enroll here: https://www.coursera.org/learn/money-banking
