Monnaie, crises financières et cryptomonnaies

ECTS : 6

Lecturer in charge : Richard DUTU (https://dauphine.psl.eu/recherche/cvtheque/dutu-richard)

Language of instruction : French

Teaching hours : 36

Course content:

Part 1: On the history of money and banking Part 2: Money creation in the commodity money system and the fiat money system Part 3: Monetary policy in today's fiat money system Part 4: Financial crises and the deficiencies of the current monetary system  Part 5: Alternatives to the current monetary system: "free banking" and crypto-currencies  Part 6: A deeper look at crypto-currencies and decentralized finance (Defi) 

Skills to be acquired:

 Course objective: 

Learn about:

• the history of money and banking
• the process of money creation by banks and the limits to that process
• the objectives, instruments and actors of monetary policy, both in the euro-zone and in the US, and the money market
• two recent financial/monetary crises (the 2008 financial crisis and the 2010-2015 euro crisis), the responses by central banks and the aftermath
• alternatives to the current monetary system, namely "free banking" and crypto-currencies
• bitcoin, blockchain technology, and decentralized finance (Defi)

Mandatory prerequisites

 Undergraduate microeconomics and macroeconomics 

Assessment:

One final 2-hour closed-book exam. 

Bibliography, recommended reading:

In class.