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Economics of Money and Banking, Columbia University

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519 calificaciones
140 revisiones

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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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135 revisiones

por Addison Lewis

Dec 11, 2018

Fascinating course that has well-explained in depth information about viewing the financial and economic landscape from the "Money View" and studying the evolution of banks, hierarchy between money and credit, liquidity vs solvency, the survival constraint, and more.

por Oludamilare Adesola

Nov 22, 2018

Very Insightful and extremely intense.

por soto hamamoto

Nov 06, 2018

It was awsome to know and learn economics from the different point of view from a view which I'm learning in Japan

por Gustavo Garcia

Oct 29, 2018

Es excelente. Por su teoría, por su fundamentación y por la metodología de enseñanza.

por Jimena Montaldo Mancilla

Oct 14, 2018

AS an economist working in external statistics at the national bank of Belgium

por Pablo Serrano Ascandoni

Oct 06, 2018

Incredible teacher. A lot of useful information that provides you with an eagle view of monetary and financial markets as a whole.

por David Voyles

Sep 19, 2018

Professor is incredibly knowledgeable, class is taught at a good pace, and videos are broken down into an order which makes sense. I really enjoyed my time with this course, despite not having a math background.

por Jesus Sierra

Sep 17, 2018

Great course, substantial breadth. Explains many details usually left out in standard International Finance/Money courses. Thank you Profr. Mehrling

por Erik Muylle

Sep 06, 2018

Really interesting. Sometimes a bit difficult to follow and vague, but yes, certainly a pleasant and worthwhile experience.

por ANNI GUPTA

Sep 06, 2018

It really gives you some deep facts of money.