Money and Banking: What Everyone Should Know

By: Michael K. Salemi, The Great Courses

Narrated by: Michael K. Salemi

Money and finance play a deeply fundamental role in your life. Now, let an expert professor lead you in a panoramic exploration of our monetary and financial systems, their inner workings, and their crucial role and presence in your world.

As a guiding theme of these 36 content-rich lectures, you observe the ways in which economies require efficient and evolving financial institutions and markets to fulfill their potential. In building a full view of our financial system, you delve into these and other vital subjects: central banks, commercial banks, and the Federal Reserve; interest rates and interest rate policy; bonds and stock markets; and foreign exchange and international banking.

Across the arc of this lecture series, you'll tackle key topics that shed light on the functioning of our financial system as a whole. You study the critical subject of inflation and its relationship to the consumer price index and to excess money growth. You'll investigate the causes and implications of the federal deficit and the national debt. In the international arena, you'll learn about the implications of trade deficits in global economic relationships and the question of monetary policy coordination between nations, weighing the significant benefits to the global economy of cooperation between central banks.

This is a rare chance to gain a grounded understanding of our monetary and financial systems, and to grasp the vital elements of finance that directly affect our way of life, our national concerns, and your own life and future.

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio.

©2012 The Teaching Company, LLC (P)2012 The Great Courses

Everyone Should Know This.

Money and Banking: What Everyone Should Know by Michael K. Salemi
The Great Courses: Business & Economics
18h 6m narrated by the author, 601 pages

Genre: Economics, Nonfiction, Business, Finance, Personal Finance

Featuring: Banks, Money History, Social Contracts, Main Street vs. Wall Street, Classroom Lectures, Accompanying PDF - 276 Pages, Suggested Reading, Questions

Quotes: "Most of us like money and believe we should have more of it. Economists think of money as an agreement—a social contract— among individuals that, if kept, makes our economic lives better and allows our economies to grow more rapidly. In this course, you’ll learn much more about money as a social contract, as well as such topics as inflation and hyperinflation; financial institutions; stocks, bonds, and derivative securities; and central banks, exchange rates, and monetary policy coordination among developed nations. The last lecture considers the challenges that confront our monetary and financial institutions in the coming years."

Rating as a movie: PG

My rating: 🌟🌟🌟🌟🌟

My thoughts: 📱3% 32:50 Lecture 2: Money as a Social Contract - This is like being in class for real. You may not be entertained, but you'll be educated.
📱17% 3:01:29 Lecture 7: Hyperinflation Is the Repudiation of Money - This is very informative and even interesting, but I'm not taking notes.
📱31% 5:31:50 Lecture 12: Central Banks - This, surprisingly, isn't boring at all.
📱47% 8:28:57 Lecture 18: How Economic Forces Affect Interest Rates - OK, some of these lectures are boring, and some of them are very interesting. It seems that I don't have a problem with explanations and history, but I get a little irritated by too much math.
📱52% 9:29:26 Lecture 20: The Term Structure of Interest Rates - Blah! More math and this time, debt and credit, too. Bedtime. I need to stick to the morning with this one.
📱78% 14:03:04 Lecture 29: The Objectives of Monetary Policy - The mortgage crisis explanation was very good. It was followed by the interest rate policy at the Fed and ECB and it was about to get very good, but my husband woke up and now it's time for breakfast and Survivor. Reading the PDF while listening made a huge difference. This book isn't made for the car.

I'm so glad I took the time for this book. It was very informative. This is is definitely information everyone should be aware of. I'm considering reading more from this series. It features 36 thirty minute lectures.

Recommend to others?: Yes. Don't be intimidated by the size or language. They really break it down.

good info on banking

I really liked the insite given. especially the pros for the fed, as much as we didn't trust them...

Excellent

Perhaps I should say "excellent" as long as you are interested in a lot of depth. I was and found it absolutely fascinating.

Educational

Nicely delivered except when the narrator is describing equations or visual material to his audience. The last several chapters are a dated but interesting perspective on the 2008 financial

Good but American

This is a great learning resource, with a too large focus on the American system

Great course despite being an audiobook

In the latter parts of the course there are more and more references to graphs an formula.
You could get more out of this course if you could see those but Salemi communicates the points verbally well enough in my opinion.
Recommended.

Great overview of banking

I've never really had a college level economics class, i took AP Micro and Macro econ in high school so always got out of having to take economics in college. So I really enjoyed this series. They covered many topics in a surprising depth including one topic that was key to an interview I had literally a week or two before I listened to the lecture that covered it. Would have saved me lots of time on google.

I think it teaches much more about the monetary system then I would have learned if i had actually remembered my AP econ classes, plus I didn't hear JMK mentioned in every sentence. Which I think is always great when discussing the banking system. If you have an interest in money and banks, I would strongly recommend this course.

This is my book, the book I need to read yesterday

Would you listen to Money and Banking: What Everyone Should Know again? Why?

Let admit, it is a long book but I will come back to it all the time. I like the way the author simply complicated concepts. I was listening to it during my commute hours so I had to forgot all the math and graphic part.

What other book might you compare Money and Banking: What Everyone Should Know to and why?

If you don't know how bank works please check out this book. It is great.

Which scene was your favorite?

The concept of money creation.

What did you learn from Money and Banking: What Everyone Should Know that you would use in your daily life?

The evolution of money concept from barter to stocks. The importance of inflation control. The changing value of money other time.

Any additional comments?

Keep writing

Great just need visuals

Lack of visuals was the only problem with this lecture. When math and formulas get involved it's too hard to visualize just from the audio. Otherwise the lectures were very informative and the lecturer was fantastic.

Excellent!

Excellent lectures encompassing the history of money, banking and economics. The title says it all everyone should know and understand this vital information that impacts our finances and economy every day.