This session covers Lecture 13: Chartallism, Metallism, and Key Currencies In the first half of the course, we focused on two prices of money: par and interest rates. With the next four lectures, we explore a third price of money: foreign exchange. This allows us to revisit fundamental questions about the nature of money. How …

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This session covers Reading 7: A Reconsideration of the Twentieth Century by Robert Mundell The reading forms the basis for Lecture 14 (next week). In it, Mundell tells a story of the evolution (devolution?) of the international monetary system over the course of the 20th century. He wants to address exchange rate stability through domestic …

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This session covers Lecture 14: Money and the State: International The lecture builds on the Robert Mundell reading from last week in an attempt to extend the money view to international monetary systems. We add balance sheets to Mundell's story of the 20th century, and continue the story into the early 21st century. We can …

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