This course examines money (historical and contemporary), the market for loanable funds, banking, other financial markets and institutions, the central bank, monetary theory and policy. The course focuses on the question of interest rate determination, whether by markets or by administration. The course examines the concepts of market failure and government failure as applied to banking and other financial institutions.
B1, B2: Offered in Part of Term (P.O.T.) 2 and/or 3, first semester