mehrling “what is monetary economics about?” economics of money and banking. coursera course.

What is economics of money and banking?

Economics of Money and Banking. 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.

Can a non-economics major take the Barnard economics course?

The Barnard version of this course requires Intermediate Microeconomics and Intermediate Macroeconomics as prerequisites for economics majors, but non-economics majors (such as engineers and historians) without those prerequisites have taken the course and done fine.

Is the concept of money market still relevant?

The relative importance of the various money markets has changed since the 2008 crisis--Fed Funds is now less important--but the conceptual framework remains valid, indeed not only for dollar money markets but also for non-dollar money markets.

How has the modern monetary system evolved?

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.

Similar courses

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Comment from our editors

This is still one of the most relevant MOOCs on Banking and Money. Since it was filmed by INET in 2012 a few things have changed in Perry Mehrling's focus, which he outlines here.

About the Course

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.

Recommended Background

The Barnard version of this course requires Intermediate Microeconomics and Intermediate Macroeconomics as prerequisites for economics majors, but non-economics majors (such as engineers and historians) without those prerequisites have taken the course and done fine.

Suggested Readings

The lectures are meant to be complete in themselves, and there is no assigned textbook for the course. Weekly readings by a variety of different authors will be posted to introduce students to the range of discourse on money.

Course Videos

The class consists of the lecture videos below, shot live in the classroom but then edited down into digestible segments, with integrated quiz questions and animated slide videos added.