ECON120: Monetary History

Watch this video for additional information on gold’s role throughout the history of humanity. We will see why gold became money and trace its path through the rise and fall of empires and civilizations.

This video walks through the major topics we covered in Unit 1. As you watch, consider the benefits and risks of a precious metal coin-based monetary system.

Read this section about monetary hierarchies, risk, and fractional reserve lending.

While reading this section, consider the implications of monetary hierarchy.

This video walks through the major topics we covered in Unit 2. While you watch, consider the implications of monetary hierarchy.

As you read, consider the concept of the time value of money and why that is important.

Read this page about the founding of the Bank of Amsterdam. Take note of the concept of privileged lending.

Read this section about the Bank of England and the three-layered monetary system England developed.

This video walks through the major topics we covered in Unit 3. As you watch, consider the concept of the time value of money and why that is important.

Read this section about the American monetary situation before 1907.

Read this section about the Federal Reserve system.

Take note of the evolution of America's monetary system under the Federal Reserve and the influences of the Great Depression.

This video walks through the major topics we covered in Unit 4.  As you watch, consider how the US dollar system changed over time.

Read this section about the Bretton Woods agreement of 1944 and the orgins of the Eurodollar system.

Read this section about modern money markets and note the claims it uses to detail the inner workings of the dollar money market.

This passage discusses the past two decades of the dollar-denominated monetary system. Take note of the Federal Reserve's responses to each crisis.

Watch this video on Breaking Down Eurodollars, the world's most essential and least understood market.

This video walks through the major topics we covered in Unit 5. As you watch, consider the implications of the Eurodollar system.

This passage introduces the components of Bitcoin's design.

Read this section about Bitcoin's legal precedent and standing in the US.

Read this section about the evolution of Bitcoin and the introduction of Lightning Network.

Watch this video for an early discussion on Bitcoin and cryptocurrencies with Andreas M. Antonopoulos, a highly respected educator and author on Bitcoin.  

In this video, Nik Bhatia walks through the major topics we covered in Unit 6.  As you watch, consider Bitcoin as a monetary innovation.

This section covers stablecoins, cryptocurrencies, and central bank digital currencies (CBDCs).

Read this section about the potential effects of Bitcoin, cryptocurrencies, stablecoins, and CBDCs on the international monetary system.

In this video, Niall Ferguson explores the history and evolution of money to demonstrate its mechanics and how it has shaped the world.

Watch this conversation with Michael Saylor, Chairman & CEO of MicroStrategy, about Bitcoin, inflation, and the future of money, information, and energy.

This video walks through the major topics we covered in Unit 7. As you watch, consider the place that Bitcoin, digital assets, and CBDCs have in the context of each other.

Watch this video with Nik Bhatia, the author of the materials used in ECON120: Monetary History. The Q & A session aims to help students understand the course's content.    

This is an interview with Nik Bhatia. It is provided for your reference, but please note that Saylor Academy does not endorse the opinions of the participants in this interview.