The Evolution and Perfection of Monetary Policy

This course traces the evolution of central banking and monetary policy from the Bank of England and the gold standard through the modern Federal Reserve. It covers central bank autonomy, interest-rate tools, responses to stagflation, and interventions during recent recessions.

Syllabus

- Chapter 1. Introduction: Thoughts on Icahn's Talk
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- Chapter 2. The Gold Standard and the Earliest Central Bank
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- Chapter 3. The Rise of the U.S. Federal Reserve System
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- Chapter 4. The Abandonment of the Gold Standard and Adoption of Central Bank Autonomy
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- Chapter 5. The Federal Funds Rate and Discount Rate
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- Chapter 6. The Fed's Innovations against U.S. and Global Stagflation
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- Chapter 7. A Trace though Recent Recessions and Conclusion
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