JP Hochbaum
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I just signed up and those in the econ world are signing up for this class like crazy so I thought I would share. It's free and could provide a great discussion here:
https://class.coursera.org/money-001/class/index
Tens of thousands of people will be taking Perry Mehrling's Money and Banking course, which he taught last fall. Within YSI, we will be taking the course together and we'll have special access to Perry, whenever we want it. Some of us can volunteer to be Coursera Community Teaching Assistants and we'll try to collectively manage the Coursera community forum, in which questions and debates need our attention.
Please sign up if you are interested in participating. We'll try to find suitable meeting times once we have an idea of who wants to take part.
Sign up for the course here:
https://www.coursera.org/course/money
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. Sponsored by the Institute for New Economic Thinking (INET), 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.
https://class.coursera.org/money-001/class/index
Tens of thousands of people will be taking Perry Mehrling's Money and Banking course, which he taught last fall. Within YSI, we will be taking the course together and we'll have special access to Perry, whenever we want it. Some of us can volunteer to be Coursera Community Teaching Assistants and we'll try to collectively manage the Coursera community forum, in which questions and debates need our attention.
Please sign up if you are interested in participating. We'll try to find suitable meeting times once we have an idea of who wants to take part.
Sign up for the course here:
https://www.coursera.org/course/money
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. Sponsored by the Institute for New Economic Thinking (INET), 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.