International Money and Banking

This is the class website for University College Dublin module International Money and Banking (ECON30150) being taught by Professor Karl Whelan in Autumn 2019.

Here is a handout describing the structure of the module, assessment and other details.

Lecture Notes

0. Introduction

1. Money as a Medium of Exchange

2. Banks and Financial Intermediation

3. Liquidity and Solvency

4. Central Banks

5. The Money Supply and Monetarism

 

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.

Jevons on Barter

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”

Karl Whelan: How Is Bitcoin Different From The Dollar?

Karl Whelan: So What’s So Special About Bitcoin?

Bank of Ireland 2018 Annual Report

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?

Karl Whelan: Should Monetary Policy be Separated From Banking Supervision?

Information on Payments Systems: TARGET2 and Fedwire.

Paul De Grauwe and Magdalena Polan: Is Inflation Always and Everywhere a Monetary Phenomenon?

Steve H. Hanke and Nicholas Krus: World Hyperinflations

Top Five Hyperinflations

The Guardian: Venezuela: hyperinflation leads to new banknotes for second time in a year