Money Talks: Understanding Monetary Policy

Jun 20, 2006Jun 23, 2006
12:00pm1:30pm
B-339 Rayburn House Office Building

Schedule:

Session One: Tuesday, June 20
Money and the Banking System: Beginnings and Impacts
Steven Horwitz, Ph.D.
Professor of Economics
St. Lawrence University

Click Here to view Dr. Horwitz's powerpoint presentation.

Session Two: Wednesday, June 21
Money and the Economy: Business Cycles, Credit, and Interest Rates

Steven Horwitz, Ph.D.
Professor of Economics
St. Lawrence University

Click Here to view Dr. Horwitz's powerpoint presentation.

Session Three: Thursday, June 22
Asian Monetary Systems and their Impact on the American Economy
Cris Lingle, Ph.D.
Universidad Francisco Marroquin, Guatemala

Click Here to view Dr. Lingle's powerpoint presentation.

Session Four: Friday, June 23
The Future of Money: Reform, Deficits, and War

Lawrence White, Ph.D.
Professor of Economics,
University of Missouri, St. Louis

Click Here to view Dr. White's powerpoint presentation.

A wise man once said, “the more money we come across, the more problems we see.”  While the truth in that statement can be debated, one cannot deny the importance of understanding money; what it is, where it comes from, and how it works.  For policymakers interested in promoting a prosperous economy, it is increasingly important to understand how monetary policy affects inflation, unemployment, and interest rates, as well as how politics can affect monetary policy.

Too often the meat and substance of monetary policy is lost amid technical jargon and economic theory.  To help clarify this topic for policymakers on the Hill, The Mercatus Center at George Mason University will host a four-day course to sift through the jargon to offer a clear and concise look at monetary economics and its effects on the lives of all Americans. 

Course participants will develop a conceptual framework for understanding monetary economics while working to answer such questions as:

  • Where does money come from?  How does the banking system work?
  • What determines national interest rates, and how much control does the Federal Reserve have over them?  Are there any drawbacks to the way the system is run?
  • How are Asian financial systems affecting the American economy, particularly the Japanese and Chinese monetary systems?  How does the federal deficit affect monetary policy?  What about prolonged deficits and military activity?