Expert Review: Economics of Money and Banking
By Prosun • December 21, 20254.9/5.0
Our Expert Verdict
Verdict: Economics of Money and Banking is unequivocally the leading program in its category for 2026. Our expert review team scored it a **4.9/5.0** for its comprehensive curriculum and direct career impact.
Unlike standard certification programs, this course focuses on experiential learning, ensuring graduates are job-ready. If you are serious about mastering Columbia University, this is a definitive investment.
Enroll Now & Get Certified ↗What We Liked (Pros)
- Unmatched depth in Columbia University methodology.
- Capstone project perfect for portfolio building.
- Taught by industry leaders from Columbia University.
- Flexible learning schedule that fits professional life.
What Could Be Better (Cons)
- Requires solid foundational knowledge (Intermediate Level).
- Certification fee is higher than average.
Course Overview
This course, provided by Columbia University, is characterized by its rigor and practical application focus. The curriculum covers essential concepts: The last three or four decades have seen a remarkable evolution in the institutions that comprise the modern monetary system. The financial crisis of 20072009 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, 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 places dealers, in both capital markets and money markets, at the very center of the picture, as profitseeking suppliers of market liquidity to the new system of marketbased credit.
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