Course link: Economics of Money and Banking

These are notes for Coursera course Economics of Money and Banking by Prof. Perry Mehrling. They are downloaded from the professor's personal website (, which might not be accessible at the moment.

Week 1: Introduction
What is a Bank, a Shadow Bank, a Central Bank? Notes
The Four Prices of Money Notes
Hierarchy of Financial Instruments
Hierarchy of Financial Institutions
Dynamics of the Hierarchy
Discipline and Elasticity, Currency Principle and Banking Principle
History of Market Makers
Managing the Hierarchy
Reading: Allyn Young Download
Week 2: Introduction, continued
Money and the State: Domestic Notes
Reading: The Vision of Hyman P. Minsky Download
The Money View, Micro and Macro Notes
Week 3: Banking as a Clearing System
The Central Bank as a Clearinghouse Notes
Federal Funds, Final Settlement Notes
Week 4: Banking as a Clearing System, continued
Repos, Postponing Settlement Notes
Eurodollars, Parallel Settlement Notes
Week 5: Banking as Market Making
The World that Bagehot Knew Notes
Dealers and Liquid Security Markets Notes
Week 6: Banking as Market Making, continued
Banks and the Market for Liquidity Notes
Lender/Dealer of Last Resort Notes
Week 7: Midterm review and exam
Week 8: International Money and Banking
Chartalism, Metallism, and Key Currencies Notes
Money and the State: International Notes
Week 9: International Money and Banking, continued
Banks: Global Liquidity Notes
Foreign Exchange Notes
Week 10: Banking as Advance Clearing
Direct and Indirect Finance Notes
Forwards and Futures Notes
Week 11: Banking as Advance Clearing, continued
Interest Rate Swaps Notes
Credit Default Swaps Notes
Week 12: Money in the Real Worlds
Shadow Banking, Central Banking, and Global Finance Notes
Touching the Elephant: Three Views Notes
Week 13: Final Exam