ECON 455 - MONEY AND BANKING
Long Title: MONEY AND BANKING
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Must be enrolled in one of the following Level(s):
Prerequisite(s): ECON 200 AND ECON 203
Description: Micro-foundations of monetary, fiscal and financial theory. Examines the unique roles of money and of banking in providing the transactions mechanism and in the functioning of financial markets. Explains the use of valued fiat, unbacked money which appears to violate basic microeconomics, in the context of Samuelson's overlapping generations model, including the implications for monetary and fiscal policy and for inflation. Discusses bank runs and financial instability.