Economics 101 (Money and Banking)

I majored in Economics at the University of Michigan, yet never learned the basics of banking and the monetary system used by the United States and all other countries.  This seems like a problem that can and should be corrected.  Wouldn't we be better served by economists who understood the monetary system, including topics such as government debt and banking that are part of everyday discourse?

I was just reviewing my own understanding of these subjects (which I acquired outside of college) and ran across this very good primer (at an MMT website):  Money & Banking.  Read this (also in textbook form here) and you'll know more about the subject than Paul Krugman.

About the Author:

Eric Tymoigne is an Associate Professor of Economics at Lewis and Clark College, Portland, Oregon; and Research Associate at the Levy Economics Institute of Bard College. His areas of teaching and research include macroeconomics, money and banking, and monetary economics. His current research agenda includes the nature, history, and theory of money; the detection of aggregate financial fragility and its implications for central banking; the coordination of  fiscal and monetary policies; and the theoretical analysis of  monetary production economies. He has published in numerous academic journals and edited volumes. His most recent book, coauthored with L. Randall Wray, is The Rise and  Fall of Money Manager Capitalism: Minsky’s Half Century from World War Two to the Great Recession.Tymoigne holds an MA in economic theory and policy from the Université Paris–Dauphine and a Ph.D. in economics from the University of Missouri–Kansas City.