This is the class website for University College Dublin module International Money and Banking (ECON30150) being taught by Professor Karl Whelan in Spring 2017
Here is a handout describing the structure of the module, assessment and other details.
The midterm exam is a one hour test that will take place on Monday March 6 (Week 7) at 7.30pm in the Blackrock exam centre. Here is last year’s midterm test.
Some sample final exam questions (Updated: February 18).
Source Material and Readings
A Comparative Chronology of Money. Website based on A History of Money from Ancient Times to the Present Day by Glyn Davies.
Milton Friedman: The Island of Stone Money
R. A. Radford: The Economic Organisation of a P.O.W. Camp
Charles Goodhart: Two Concepts of Money
A History of Money: From AD 800 by John F. Chown. Google Books version. Chapter 5 is “The Great Debasement of Henry VIII’s Reign”
Bank of England: A Brief History of Bank Notes
Karl Whelan: How Is Bitcoin Different From The Dollar?
Karl Whelan: So What’s So Special About Bitcoin?
Bank of Ireland’s Interim Report with June 2016 results.
Cleveland Fed: Bank Capital Requirements: A Conversation with the Experts
Patrick Honohan’s Report: The Irish Banking Crisis Regulatory and Financial Stability Policy 2003-2008.
Bank of England: Understanding the fair value of banks’ loans
Bad Journalism on Bank Capital Example One: London Review of Books
Bad Journalism on Bank Capital Example Two: Fortune
Bad Journalism on Bank Capital Example Three: New York Times
Federal Reserve: Recent Balance Sheet Trends
The weekly consolidated balance sheet of the Eurosystem from the ECB.
Karl Whelan: Is the ECB Risking Insolvency? Does it Matter?
Paul De Grauwe and Magdalena Polan: Is Inflation Always and Everywhere a Monetary Phenomenon?
Steve H. Hanke and Nicholas Krus: World Hyperinflations
New York Times: Venezuala Issues New Banknotes Because of Hyperinflation
Todd Keister and James McAndrews Why Are Banks Holding So Many Excess Reserves?
Guy Debelle: On Europe’s Effects on Australian Financial Markets
ECB Protocol (i.e. the legal statute underlying the ECB and Eurosystem).
ECB monetary policy meeting accounts
Karl Whelan: An ECB QEsplainer
San Francisco Fed: Information on the the Fed’s role in banking supervision.
Ben Bernanke: Implementing Monetary Policy
Joseph Gagnon and Brian Sack: Monetary Policy with Abundant Liquidity: A New Operating Framework for the Federal Reserve
Karl Whelan: The Secret Tool Draghi Uses to Run Europe
The ECB’s ELA Procedures