FIN 347: Money and Banking
with Arvind Krishnamurthy
This course is designed to help students understand the connections between money (the Federal Reserve), financial markets, and the macroeconomy. How are interest rates determined, and how does the Federal Reserve conduct monetary policy? How do Federal Reserve actions impact the US as well as other economies? What economic factors drive the yield curves in different bond markets? We will pay particular attention to the banking system, with an eye toward understanding the function, valuation, and regulation of banks. We touch on a number of topics including the role of the Federal Reserve as a lender of last resort during financial crises, unconventional monetary policy tools such as quantitative easing and forward guidance, cryptocurrency, and emerging market financial crises. We will often begin class with a discussion of current macro-financial market events in the context of our course coverage. The course is appropriate for anyone trying to gain a macroeconomic perspective on capital markets, from investors to bankers, or those simply interested in the linkages between interest rates, banks and the economy.
Econ 226: US Economic History
with Dan Fetter & Gavin Wright
The role of economic history as a distinctive approach to the study of economics, using illustrations from U.S. history. Topics include: historical and institutional foundations of the U.S. rise to world economic preeminence; economic causes and consequences of slavery; the American national system of technology; the Great Depression of the 1930s and the policy response; inequality and intergenerational mobility; the growth of social insurance. Intended for graduate students.