COREQUISITE: B8250, Global Economic Environment II: Macroeconomic Policy
The course Global Economic Environment II (GEE II-B8250) must be taken prior to or concurrently with B8251. Knowledge of the GEE II material is only required for the second half of B8251. Taking the two courses concurrently is not only possible, but has advantages. By taking GEE II in the A-term concurrently with B8251, students will have this material fresh in their minds when they make use of it in the second half (B-term) of B8251.
COURSE DESCRIPTION: The course is intended to help students understand the role that financial markets and monetary policy play in the global economic environment that they will have to face in the future. It also provides an understanding of the underlying institutions, both political and economic, that either make financial markets work well or that interfere with the efficient performance of these markets. The course develops a series of applications of principles from finance and economics that explore the connection between financial markets and the macro economy. Given the instructor’s prior position as a governor of the Federal Reserve, the class also provides an inside view on how the most important players in financial markets, central banks, operate and how monetary policy is conducted. The course will have a strong international orientation by examining monetary policy and financial crises in many countries and possible reforms of the international financial system. We will also focus on current events reported in the financial press with an extensive discussion of about 30 minutes in every class in which we will use the analytic frameworks developed in class to help us to understand these developments.
Alfred Lerner Professor of Banking and Financial Institutions
Frederic S. Mishkin is the Alfred Lerner Professor of Banking and Financial Institutions at the Graduate School of Business, Columbia University. He is also a Research Associate at the National Bureau of Economic Research, and from September 2006 to August 2008 was a member (governor) of the Board of Governors of the Federal Reserve System. He has also been a Senior Fellow at the FDIC Center...