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This is a course about the role of money and financial intermediation in modern economies and therefore the environment in which businesses operate. The course is organized around three sets of questions. First, what is money and why is it necessary? How can seemingly worthless paper serve a key purpose in a market economy? Second, what is the role of banks, both historically and in the more complex financial system of today? What are the origins of banking panics such as those experienced at the onset of the Great Depression or during the 2007-08 financial crisis? Third, how do central banks conduct monetary policy and what types of policies should the Federal Reserve and other government agencies follow to prevent financial crises?.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: ECON 321 [Min Grade: C] or FIN 325 [Min Grade: C]