London, United Kingdom

Money, Banking and Cryptocurrencies (Level 2)

The module will explore the role of money and banking in normal and crisis times as well as the most recent developments in the financial industry, namely cryptocurrencies and blockchain technologies. In particular, we will investigate the role of credit for economic growth, why do banks exist and how they do compete. We will then research how banks possibly triggered the Great Financial Crisis (2007-8) as well as governments’ policies in response. Finally, we will devote our attention to the most recent development in the money and credit markets, such as blockchain technologies and cryptocurrencies, with specific emphasis on bitcoins. The module will be articulated around standard theoretical models, empirical evidence, policy developments and case studies. With the latter respect we will take advantage of the international dimension of the UCL Summer School and we will draw from the experiences of different countries in the world.

Course leader

Dr Silvia Dal Bianco

Target group

This is a level two module (equivalent to second year undergraduate). In addition to the standard UCL Summer School entry criteria, applicants will be expected to have knowledge of basic economic concepts.

Course aim

Upon successful completion of this module, students will:

Be able to explain, using economic tools and empirical evidence, why retail banking is central to the economy and what factors affect decision-making of retail banks
Be able to design and produce videos for presenting a policy brief on the financial development of a country of their choice (see Group-Video assignment in Q19 for further details)
Critically analyse the role of government intervention in the banking sector during the last global financial crisis
Explain the economic nature of bitcoin and the working mechanism of the blockchain
Critically evaluate the impact of blockchain on traditional banking, payment systems and Central Banks

Credits info

7.5 EC
7.5 ECTS, 4 US, 15 UCL

Fee info

GBP 2585: There is a built-in tuition fee discount for students studying for 6 weeks (2 modules)
GBP : Students are welcome to apply for accommodation at a UCL summer residence.