Money and Banking

This course has two main objectives. One is to study the role played by banks in modern monetary economies and financial markets, including issues arising from bank regulation, the role of banks in financial intermediation, and the significance of bank behaviour in monetary policy. This includes analysis of monetary innovations through crypto-currencies such as "bit-coin", and the shadow banking systems that played a significant role in the Global Financial Crisis. The second objective is to study the operation of monetary policy generally, in large economies such as the USA, and in small open economies such as Australia.