These are lecture notes for a first-year graduate course on macroeconomics I taught at Brown University from 1995 to 2002. The notes cover the links between money and prices in the long run; nominal rigidities and economic fluctuations; macroeconomic policy; investment; and unemployment and...

This paper offers a basic overview of the practical aspects of money creation. A brief presentation of the history of money and a critical summary of the commonly accepted theories highlight the current understanding of the emergence and operating characteristics of money in the modern economy....