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FREE Course on the Economics of Money and Banking, Produced by the Institute for New Economic Thinking!

Interested in learning some new economic thinking? Want to spot the next financial crisis before it’s too late? Then sign up for this FREE online class on The Economics of Money and Banking!

The course, produced by the Institute for New Economic Thinking and taught by the Institute’s Perry Mehrling, explores money markets and how they work, both in the U.S. and internationally.

After taking the course, you will be able to understand everyday financial discourse at a high level. The class will give you extensive knowledge of how money markets work and is designed to give you the tools be able to spot the next crisis before it hits. You’ll learn what Professor Mehrling calls “the money view,” which will teach you the key institutions that underlie the financial system and give you ideas for how they could be reformed to prevent another collapse.

Sign up for the class here, and read below for an introduction to the class from Professor Mehrling!

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 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.

Course Syllabus

Introduction

  1:  The Four Prices of Money

  2:  The Natural Hierarchy of Money

  3:  Money and the State:  Domestic

  4:  The Money View, Macro and Micro

Banking as a Clearing System

  5:  The Central Bank as a Clearinghouse

  6:  Federal Funds, Final Settlement

  7:  Repos, Postponing Settlement

  8:  Eurodollars, Parallel Settlement

Banking as Market Making

  9:  The World that Bagehot Knew

  10:  Dealers and Liquid Security Markets

  11:  Banks and the Market for Liquidity

  12:  Lender/Dealer of Last Resort

Course Format

The class will consist of lecture videos, shot live in the classroom but then edited down into digestible segments, with integrated quiz questions and animated slide videos added. There will also be weekly quizzes, and a final exam.

FAQ

What is the coolest thing I'll learn if I take this class? You will learn to read, understand, and evaluate professional discourse about the current operation of money markets at the level of the Financial Times.  
 

SIGN UP NOW!

Comments

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I would like to attend this course.

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i really apreciate your job, thank you

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I like this course

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I am interested in money and finance.

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Not sure why a comment is mandatory to express interest in an online course. One question: Will the format take advantage of the strengths of web-based instruction; namely, allowing students to proceed according to a schedule tailored to their needs?

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Intrested in the course.

0

i'm interested.

0

I am the student of economics and I want to Learn this course

0

Interested in course

0

Very much interested

0

How do I sign up for the free course, I have clicked on the links but they do not work, the web page appears blank.

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I would like to learn further about why and how capital markets have become increasingly divorced from the real economy and yet can be highly affective of the latter when crises strike.

0

Interested :)

0

Want to sign up.

0

interesting course.

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To everyone interested, you can sign up for the class on Coursera: https://www.coursera.org/course/money

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Hugh: We encourage you to take it at the suggested pace in order to take full advantage of what the course offers (including discussion groups, quizzes, and credit from Coursera when the course is finished). But you should be able to take the class at your own pace if you would like to!

0

Hi, I have two questions:

Is there any punishment if someone leaves early the course?

Is the course considered to be appropiate to be follow for people who work and study? I'm asking this because I do not want to stay behind due to my different daily obligations.

Thanks.

0

I will sign up. Length of the course? Length of class? how ? on our pace? Thanks

0

i would like to attend the course

0

The course content will be very useful and helpful to many. thanks and admit me

0

Thank you for the initiative. Looking forward to attend the same!

0

I'm interested in the course and will like to studying the course online

0

Have not been able to sign up as the Coursera web site provided has been down for 2 consecutive days. Other people encountering similar problems?

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Hi Ben, the Coursera website is working for us. What is the issue that you're having specifically?

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Rani, the class goes for 7 weeks starting September 1. You should be able to take the class at your own pace, but we encourage you to take it in the suggested timeframe in order to take full advantage of what the course offers (including discussion groups, quizzes, and credit from Coursera when the course is finished).

You can sign up and find more details here: https://www.coursera.org/course/money 

 

0

Pablo,

There is no punishment if you leave the course early. However, if you don't take the course in the suggested time frame you won't be eligible to acquire a credit certificate from Coursera if you would like one. We encourage you to take the class at the suggested pace in order to take full advantage of what the course offers, but those with busy schedules should be able to go at their own pace and still learn the material

0

Mr. Soros has to be proud! Thank you for this iniciative, I look forward yo studying the course.

0

Bitcoins and crowdsourcing shouldn´t be part of a new economic thinking course?

0

Really good initiative!! How do we attend the course? Thank you.

0

Such a niece step, thanks for the same , i will join defntly

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Do you have another schedule? I missed this one. This is very important to me since I want to brush up and be updated on the subject of Economics...This is related to my job. Thank you

0

i love to join this course

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I would like to join the course. Thanks for the offer of the course.

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Ma. Trinidad Llorito: The class doesn't start until September 1, and you can still join the class and view all the material after the class starts. Also, I believe there will be another round of this course scheduled to take place in the near future, so you can catch it then if you're busy now! 

0

I would like to join here.

0

Like to be part.

0

I'm interested. Thank you.

0

i want to sign up. does it really takes long? been waiting for the past 25 mins. thanks

0

i would like to join.

0

I would like yo register free course online

0

I would like to join the course. Thanks for the offer of the course.

0

Sign me up

0

Money and bank items are interesting

0

I would like yo register free course online

0

I am so interested in the course as i am currently working for the banking sector in my country. I would like to ask if there would be any kind of certification after the successful completion of the course and the final exam that is mentioned, so people could use it in their curriculum. Thank you in advance.

0

I would like to learn this new economics course

0

Yes, students will be able to follow the course according to their own schedules. There will be some benefit to following the course in real-time (better-timed interaction with TA's, taking advantage of live events), but the quizzes and content will be available throughout, so feel free to pursue it whenever is convenient.

0

Lack knowledge necessary for understanding newer economic models, would like to sign up for this course. Thankyou.

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I have registerd this online course and have listened to the 1st lecture video. The course syllabus is pretty interesting! and the lecturer made the lecture very interesting. Its recommended for whom are interested in world economy and financial system.

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