Part I: A History of Banking -- 1.A brief history of money and credit -- 2.Banking in the 20th Century -- Part II: How Banking Works -- 3.Money and Inflation -- 4.Money and Banking -- 5.Banking and the economy -- 6.Investment Banking -- 7.Banking in Crisis -- 8.Financial Instability -- Part III:...

While paramount to the modern economy, understanding how the banking system works has been usually cast aside from overall economic education. Even in the aftermath of the recent financial crisis, which has underlined the vital importance of banking in the economy, the workings of the sector...

"From 1716 to 1845, the Scottish financial system functioned with no official central bank or lender of last resort, no public (or private) monopoly on currency issuance, no legal reserve requirements, and no formal limits on bank size. In support of previous research on Scottish "free banking,"...