17 July 2020
Money, Banking and Cryptocurrencies
The module will explore the role of money and banking in normal and crisis times as well as the most recent developments in the financial industry, namely cryptocurrencies and blockchain technologies. In particular, we will investigate the role of credit for economic growth, why do banks exist and how they do compete. We will then research how banks possibly triggered the Great Financial Crisis (2007-8) as well as governments’ policies in response. Finally, we will devote our attention to the most recent development in the money and credit markets, such as blockchain technologies and cryptocurrencies, with specific emphasis on bitcoins. The module will be articulated around standard theoretical models, empirical evidence, policy developments and case studies. With the latter respect we will take advantage of the international dimension of the UCL Summer School and we will draw from the experiences of different countries in the world.
Silvia is a Teaching Fellow at UCL Department of Economics. She possesses a 18-year academic experience in world-renowned universities, such as Oxford and Bocconi. Silvia’s areas of expertise include applied economics and macroeconomics. Her works have be
This is a level one module (equivalent to first year undergraduate). Students are expected to have a knowledge of basic economic concepts as well as meeting the standard entry requirements.
The module aims at deepen students’ understanding of money and banking in normal and crisis times as well as
of recent developments in the financial industry, with specific reference to blockchains and bitcoins. More in
details, the first objective of the module is exploring and justifying why money and banks are considered the
cornerstones of market economies. The second key aspect to be investigated is that economic stability largely
depends on the smooth functioning of the money market. In particular, its malfunctioning or mismanagement
can lead to traumatic crises, which call for government intervention and regulation. Finally, it must be noted
that the concepts of money and banking are continuously evolving. In this sense, the blockchain and bitcoins
appear to be the most striking and controversial amongst the recent financial innovations. Hence, the last
module objective is providing students with a sound understanding of the economic nature of bitcoins as well
as of the potentially disruptive impact of blockchain technologies for the banking industry.
15 UCL credits, 7.5 ECTS, 4 US
GBP 2100: There is a built-in tuition fee discount for students studying for 6 weeks (2 modules)
GBP 1100: Accommodation (optional) costs approx. £1100 per 3-week Session.