Understand how a bank creates liquidity and monetizes non-monetary debt. Know what a central bank is and the role central banks play in modern economies. Present your own arguments in written and oral form. Letter grades are based on total points and not on an average of letter grades. The final examination is cumulative.
Late work is penalized.
There are no makeup examinations for missed midterm examinations. The course will adhere strictly to UNC procedures for final examinations. This course is not a lecture course although the instructor will lecture from time to time to provide an overview of material. Students will discuss articles from the literature, work on exercises prepared by the instructor, and prepare and present writing assignments. Students and the instructor will sign a contract that makes clear the responsibilities of all members of the class.