3.00 credit hours
Central banks have become enormously powerful economic institutions in many countries, yet their purposes and functions are widely misunderstood. This course is designed to enrich one's understanding of how central banks such as the Federal Reserve System actually operate, and how they have been adapting to changes in the economic and financial landscape, and to changes in technology. The course will highlight current monetary policy and central banking issues being dealt with in the United States and elsewhere. The course will emphasize the connection between economic theory and the practice of central banking. Where relevant, topics will be examined from a multi-country perspective, so that the practices of several different countries may be compared and contrasted.
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