FIN315 The History of Central Banking

From the origins of money to the establishment of the first central bank, notably the Bank of England, and onwards to the modern-day operations of central banks, this course offers a wide view of financial evolution. Through interdisciplinary lenses, students will dissect the societal and economic ramifications of various monetary systems, including alternative monetary policies such as the Chicago Plan, Social Credit by C.H. Douglas, and the gold-backed system. Additionally, students will study the three definitions of money--legal, commodity, and debt--analyzing their roles and implications throughout history. Special focus will be given to the establishment and functions of the Federal Reserve System in the United States, shedding light on its historical significance and contemporary relevance. By scrutinizing historical milestones alongside contemporary issues, students will emerge with a profound understanding of central banking's role in shaping the global financial landscape. (Prerequisite ECON202 ) Humanities