We will explore several classic questions in the theory of money. What is money? What forms does money take? Why is money necessary-why is there a demand for money? What determines the supply of money? What is the debate on central versus free banking? Should banking be regulated, and, if so, why and how? What determines inflation? Should nations enter into fixed exchange rate regimes, or should they let the value of their monies be market-determined? What are the tensions that arise in fixed exchange rate regimes and common currency areas? How should policymakers view cryptocurrencies? Is a central bank digital currency desirable? These, and other questions, are explored within the context of theories that model the microfoundations of monetary exchange explicitly. PREREQUISITES: Econ 4011 and Econ 4021. 3 units.
Course Attributes: AS SSC; EN S