Money and Banking

This course explores the interaction between money, financial markets and institutions. We examine (1) the three roles of money, using cryptocurrencies as leading example, (2) the core principles of asset pricing, (3) how financial institutions, including FinTech, help to overcome financial frictions, but may lead to financial crisis and bank runs, (4) how monetary and macroprudential policy impact inflation, growth, and financial stability. (5) the international financial architecture, especially the role of the International Monetary Fund.