Course description:

Financial systems and central banks are often in the news as countries cope with economic problems and crises. Financial systems are centered on key institutions, instruments and markets, but they also involve governments and public policy. This course examines financial systems from the perspective of both financial and economic stability. This includes a focus on the role of central banks and monetary policy, both in normal times and in financial crises.

Several broad questions will be addressed in the course:

1. The purpose and organization of a financial system
2. Why and how countries regulate the financial sector
3. The goals, means, and challenges of central banks and monetary policy along with a working knowledge of macroeconomics and the foundations of