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“The way monetary economics and banking is taught in many – maybe most – universities is very misleading.”

Professor David Miles, Monetary Policy Committee, Bank of England

Universities often teach ideas about money and banking that have been out of date for decades. If you are a student make sure academics and students in your University understand how banks really work today, and how that affects the main social and economic challenges that we’re facing today.

1. Educate yourself, your Professor and your fellow students

BoE Money CreationRead the Bank of England paper Money Creation in the Modern Economy, which explains how money is created by the banking system, and highlights the ways in which the textbooks are wrong:

Send it to your professor and ask them to integrate it into their lectures on money creation or the money multiplier. If they’re currently using any textbook other than those by Howells & Bain, then they’re likely to be teaching an inaccurate version of how the banking system works.

Watch our Banking 101 course (50 minutes) which explains how banks create money today, and why the textbooks are (mostly) inaccurate.

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Get a copy of Where Does Money Come From? – Whereas most undergraduate textbooks are based on theories about banking that are completely out of date, this book is based on original documents from the Bank of England, and was referenced in the Bank of England’s recent paper on money creation.

Online Courses
Prof. Perry Merhling’s course on the Economics of Money and Banking is highly recommended for students or those who want to understand post-crisis finance in detail. Both parts are free to watch online.

Recommended Textbooks
The most accurate textbooks that we’ve found are those by Howells and Bain:
The Economics of Money, Banking and Finance: a European Text
Financial Markets & Institutions

2. Organise an event at your University 

We have lots of resources to help you organise a successful event. Have a look at our organise an event page and get in touch with dora@positivemoney.org to find out how we cansupport you and advertise your event.

3. Get involved in an alternative economic society

Since the financial crisis, students across the world have started to question and challenge the economics syllabus being taught in Universities. We know the monetary system is often mis-taught in Universities. We need your help to change it!

Find out if there is a alternative economics society at your University and see if they would like to organise an event about monetary reform.

If you are interested in setting up an event or a Positive Money group at your university email dora@positivemoney.org and we will help out in anyway we can.

 

Stay in touch

  • GARA

    I want to tell the future Prime Minister of Tunisia that money creation should only be used in the public interest.

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