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Economics of Money and Banking に戻る

コロンビア大学(Columbia University) による Economics of Money and Banking の受講者のレビューおよびフィードバック

4.9
935件の評価
242件のレビュー

コースについて

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....

人気のレビュー

BG

Jul 17, 2017

An intellectually engaging course opening a debate about how we think about markets and how we should tackle the current challenges. Accessible to non-economists. I warmly recommend it to everyone.

PM

Jun 27, 2020

Extremely helpful is understanding the money view of banking system. One of the best courses. A small suggestion - it can be interspersed with more examples especially from the emerging markets.

フィルター:

Economics of Money and Banking: 1 - 25 / 237 レビュー

by Fahad Y

Jan 25, 2019

Excellent explanation of the way money moves the world we live in today. Brilliant professor who's passion and depth of understanding adds to the fascination of the world of money & banking.

by Faisal n K

Mar 24, 2019

I have learned a lot from this course. This course has completely changed the way I see economy and finance. I remeber once warren buffet said in his AGM"few teachers can completely changed the way you see world for me it was ben graham".professor mehrling could be my ben graham. It was evident from professors lectures the amazing knowledge and skills he has. Specially the way professor interprets FT articles is superb.Sometimes this course do get tough and confusing and to clear that confusion you have to revise old lectures. This course has helped me to get better understanding of how global financial system works

by Vatsal G

Apr 06, 2019

Working at a bank, I realized that economics and finance are in reality more driven by liquidity and money hierarchy than fundamental values. This course has given a very practical perspective on how the entire system evolved. The economics and finance they teach in schools need to come over the assumptions of perfectly liquid markets. The world is different. Let them prepare the coming generation about this since early age.

by Kevin S

Oct 07, 2017

Super insightful, I wasn't able to do a course in Money and Banking in university and I'm very glad I got to do this updated view on how banking works in the modern age. Excellent course

by Brad H

Dec 13, 2016

Professor Mehrling is fantastic. I found this course supremely interesting, and I learned an incredible amount from it. I would venture to say that most have not taken an economics course like this one before. This definitely felt like a real college course.. 13 weeks of lecture, 2.5-3 hours of lecture each week. I believe Professor Mehrling said in-class that the two prerequisites for this course (for Columbia University students, not Coursera users) are Intermediate Micro and Intermediate Macro, so the course is definitely fairly high-level. To put it into perspective, I was an Accounting/Finance major with Econ minor and have CPA/CFA. So while not "trained" in economics, I've had a fair amount of exposure, but I definitely felt intellectually challenged and frequently had to relisten to parts of lectures. Definitely recommend this course! Learned something every minute of every lecture.

by Georgios D

Aug 30, 2019

Although I hold a BSc in Economics and an MBA, I have to admit that before taking this mooc I only had some vague macro-based ideas about the actual mechanics of banking. This mooc is an eye opener to the realities of our modern money & credit markets and institutions. I finally understood some heavilly complicated concepts, like derivative financial instruments, that are presented in a manner that builds intuition easily around their usefulness as tools, despite their heavy quant mathematics that always deterred me!

by alex h

Dec 03, 2016

I found this to be an excellent introduction to how modern banking works. If this class grows increasingly popular, go long whatever company sells chalk because the professor consumes quite a bit as he sketches out a seemingly infinite number of T-accounts to illustrate the trading of money through multiple markets, including Fed Funds, EuroDollar, Repo, Swap and FX. By the end of the class, you get a good sense for the plumbing behind markets, and develop an alternative and practical view of what drives asset prices than what you perhaps learned studying economic or financial theory. You also gain an appreciation for how big shadow banking is globally, how all money is not created equal, and how the value of any asset can change drastically through the mechanics of the dealer system as investors discover this point.

by Damon W

Apr 18, 2020

Learned a lot from this even though I should have taken a derivatives course beforehand to understand forwards, swaps etc a bit better as they were discussed. I now feel I have a good understanding of the banking system as a whole and how it succeeds and fails. Also gave some good food for thought on how to better regulate and manage the system going forward. I took this course as the coronavirus pandemic pricked the asset bubble and inspired yet another financial crisis. It was remarkable how many of the things he was discussing from the GFC are still a problem today and for much the same reasons!

by Alfonso G Y

May 30, 2020

It is a pleasant, agile, instructive course that brings a new vision of the interaction between economic, financial and monetary stuff. Perry Mehrling is exemplary, a teacher who reflects that he loves what he does. The dedication in each lesson, the contribution of material in the form of readings and the way classes are taught (with the use of slate and chalk included!) is increasingly unusual in today's times.

by BHAVYA K

Jul 02, 2019

I think EMB is the best course out there if you'd like to learn how money markets and capital markets interact in the modern times. This is something very unlike what is taught in your regular macro or fin courses, which will start making much more sense after you've done well in this course. Highly recommended.

by Giorgio G

Oct 13, 2019

Fantastic content, it explains how banks work behind the scenes and many intricacies of the current financial system. Super suggested even to those who don't have a financial background.

by Vishwesh R

Mar 10, 2019

Some really complex topics explained in really simple and fundamental terms

by Hector N

Jun 05, 2017

Very interesting perspective on money and banking and the link between the two. A few suggestions for improvement: (a) make real e-lectures, not just take-outs from lectures, (b) provide a textbook (the lecture notes are mediocre), and (c) clarify what the course structure is.

by José G F Q d A

Nov 28, 2016

This is a truly superb course, probably unique in its breadth, depth and realistic, fact-based approach to teaching money and banking. I particularly liked the systematic use of balance sheets for the presentation of the materials, the emphasis on History and institutions to understand the contemporary banking system, the explanations on the hierarchy of money and credit and of how all banking is essentially an exchange of IOUs (mostly created from thin air). The transition from traditional banking to shadow banking is very well explained. The role of the Fed as a liquidity backstop for the financial system, the eurodollar as a source of global funding and the causes of the financial crisis are all clearly presented. I'm now eagerly waiting for an updated version of the course, since the recorded lectures are from late 2012.

by Alexandre Z R

Oct 25, 2017

I did in my local university a course in Monetary Economics and then I did this. This course it's not a traditional course, if you know previously something about it, you will recognize this is a lifetime work of investigation, theorization, of a academic passion about how this trully work in markets. It's not a easy course, I have to repeat many weeks to get along. But Professor Mehrling structured the course with reading materials that give you a broader understading, he uses real data to explain and exemplify, he reads FT and discuss. I'm so grateful for this course, before that I used to think I knew monetary system. Now that I know much more I'm aware of my ignorance. Hope some day he make another course, or just update this one with the new events in the central baking world.

by Carlos C

Jan 23, 2020

Most comprehensive course I have taken regarding Money and how it interacts with the economy. Having studied Economics as my undergrad, I was very disatisfied with the Monetary Policy course I took (the only one where we got the chance to see how Money interacts with the economy), because of its simplicity and "Jimmy Stewart" banking form of teaching, as Professor Mehrling usually refers to during this course. Congratulations and thanks for teaching me lots of important things I never heard during my career! Every Econ major should definitely take this course (even if you graduated), if you want to understand how the financial system really works, what is the real function of the Central Bank, and how we have evolved from the rupture of Bretton Woods in 1971!

by hiroo y

Aug 12, 2017

It starts very simple, but this is really a profound course. Begining from "what is money", it looks into classic banking, how things changed in the shadow banking system, what money markets do and how the players operate, especially the role of market making brokers. If you have some economics and/or finance back ground, this will have your views stand on their head, and then come back on their feet. You will have a changed view on central banking. I don't think anyone can completely absorb this in one go, but it will provide really stimulating and eye opening views on every section of the lecture.

by Nicolas H

Dec 09, 2016

While the course presupposes a state and underconceptualizes or rather even ignores the law it still is the go to online course for anyone interested in the phenomenon that probably is as misunderstood as it is often mentioned: money. Specifically "global money". Perry has amazing teaching skills, too. You can tell he not only has taught this course a lot of times but he also loves what he's doing and keeps on getting an even better teacher. I've done this course multiple times and will probably keep doing it. There is so much in here to learn and to more deeply understand...

by Dhruba D

Sep 10, 2017

Economics and Finance have always been explaining theories and concepts to students. Often when thought back/pondered upon, the theories are unable to explain all the queries of real life.

This course stitches through all the theories and present a very well thought out and a complete picture of the financial world. A very unique perspective and a rare perspective at that.

Highly recommended that you register and pay for this course. As it makes the learning so much more interesting, intriguing and gives us so much understanding of the money view of the financial world.

by Ranjana P

Apr 29, 2017

Well structured course with an exceptionally insightful view of how the money markets works. The readings that are given are exceptional and I have learnt more about the financial markets that many other courses. Professor Mehrling is an exceptionally charismatic educator and takes us through a journey that clearly explains the crisis and gives us an alternative view that might just help make finance clearer to anyone. I really hope that unit two of this course will be recorded and be distributed by coursera.

by Andras I

Nov 08, 2019

Challenging for someone like me with no economics background (other than the obligatory classes at university 20 years ago) but it's a well of knowledge and cleanly, conscisely presented. Only issue is at times feels a bit repetitive (even considering that the educator is trying to point out similarities in structure at different levels of the hierarchy) and a bit hard to keep the final point of the lecture in mind while going through some details. But overall learned a lot and had a good time studying!

by Dhruv S

Apr 21, 2020

A really great course taught by Professor Perry G Mehrling that is suitable for beginners and intermediate students wishing to know more about the subject of economics, specifically how banking and the global economy works. The course outlines and explains many different concepts, and perspectives of economics in a neutral way as to explain the concepts best. Along with this every concept is explained with balance sheets, providing a quantitative and unique way of learning Economics. Great course!

by Travis

May 15, 2017

This is an excellent course for those looking for a better understanding of how money & liquidity impact the global economy, particularly, how the transfer of risk through derivatives and swap contracts created a systemic risk of which few recognize until the financial crisis of '07-'09. I have a much better understanding of the interconnected nature of today's global financial system and the mechanism by which money and risk are transferred from taking this course.

by AP S

Oct 05, 2019

A brilliant course for those interested in an in depth understanding of how the money markets work. Professor Mehrling is amazing at what he does! You don't need to have an economics background to appreciate the course (and you will be glad if you don't as the course opens your eyes to how inadequate academic economics is in understanding the real world today). Highly recommend. Accompanied by great readings and course material as well.

by Magnus Ö

Apr 26, 2020

Gives a nice introduction to the money view. Took this course to get a framework for the prices i see in my bloomberg terminal, and to better understand how central banks actions propogate through the financial system. Perry is a great lecturer and clearly has some enthusiasm for the topic. One thing that would make the course even better would perhaps be a guest lecture from Zoltan Poszar (maybe to describe a practitioners view)