Understanding the Federal Reserve

Provided by:
8/10 stars
based on  8 reviews
Provided by:
Cost FREE , Add a Verified Certificate for $25
Start Date TBA

Course Details

Cost

FREE,
Add a Verified Certificate for $25

Upcoming Schedule

  • TBA

Course Provider

edX online courses
Harvard University, the Massachusetts Institute of Technology, and the University of California, Berkeley, are just some of the schools that you have at your fingertips with edX. Through massive open online courses (MOOCs) from the world's best universities, you can develop your knowledge in literature, math, history, food and nutrition, and more. These online classes are taught by highly-regarded experts in the field. If you take a class on computer science through Harvard, you may be tau...
Harvard University, the Massachusetts Institute of Technology, and the University of California, Berkeley, are just some of the schools that you have at your fingertips with edX. Through massive open online courses (MOOCs) from the world's best universities, you can develop your knowledge in literature, math, history, food and nutrition, and more. These online classes are taught by highly-regarded experts in the field. If you take a class on computer science through Harvard, you may be taught by David J. Malan, a senior lecturer on computer science at Harvard University for the School of Engineering and Applied Sciences. But there's not just one professor - you have access to the entire teaching staff, allowing you to receive feedback on assignments straight from the experts. Pursue a Verified Certificate to document your achievements and use your coursework for job and school applications, promotions, and more. EdX also works with top universities to conduct research, allowing them to learn more about learning. Using their findings, edX is able to provide students with the best and most effective courses, constantly enhancing the student experience.

Provider Subject Specialization
Sciences & Technology
Business & Management
22043 reviews

Course Description

What is the structure and purpose of the FED? How does its action impact not just the US economy, financial institutions, but individual investors and savers alike? Are you aware of the relationship between the federal government and the Federal Reserve (FED)? Are you familiar with the federal open market committee (FOMC) and know what distinguishes it from the FED. This is the course for you!

The Federal Reserve is more than a 100 years old today and is the central banking system of the United States. As an institution, the FED’s decisions and policies impact our economy and our lives every single day.

With Europe and other countries now imitating and initiating Quantitative Easing measures that the US Fed has ALREADY implemented, the FED's impact and influence are truly global is nature.

By the end of this course, you should:  

  • Recognize the role and structure of the Federal Reserve (FED).
  • ...

What is the structure and purpose of the FED? How does its action impact not just the US economy, financial institutions, but individual investors and savers alike? Are you aware of the relationship between the federal government and the Federal Reserve (FED)? Are you familiar with the federal open market committee (FOMC) and know what distinguishes it from the FED. This is the course for you!

The Federal Reserve is more than a 100 years old today and is the central banking system of the United States. As an institution, the FED’s decisions and policies impact our economy and our lives every single day.

With Europe and other countries now imitating and initiating Quantitative Easing measures that the US Fed has ALREADY implemented, the FED's impact and influence are truly global is nature.

By the end of this course, you should:  

  • Recognize the role and structure of the Federal Reserve (FED).
  • Recognize the role and structure of the Federal Open Market Committee (FOMC).
  • Define interest rate terminology:
    • FED Fund Rate
    • Discount Rate (Window)
    • London Interbank Offered Rate (LIBOR)
  • Identify the economic initiatives undertaken by the FED:
    • Troubled Asset Relief Program (TARP)
    • Quantitative Easing I, II, and III
  • Recognize how the FED controls, owns, and manipulates the short end of the Yield Curve.
  • Get familiarized with the product called Repurchase Agreement (Repo) and Reverse Repo.
  • Recognize the process by which the Federal Reserve facilitates the fine-tuning of cash in the market using Repurchase Agreement (Repo).
Reviews 8/10 stars
8 Reviews for Understanding the Federal Reserve

Ratings details

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Rankings are based on a provider's overall CourseTalk score, which takes into account both average rating and number of ratings. Stars round to the nearest half.

Sort By
Ashley Celey-Butlin profile image
Ashley Celey-Butlin profile image

Ashley Celey-Butlin

3/10 starsCompleted
2 years ago
Not at all what I could call a comprehensive overview of the Federal Reserve. Instructor makes several mistakes, both in content and communication. Feels like a first take of what could have been a better production.
Was this review helpful? Yes0
 Flag
Sam Shah profile image
Sam Shah profile image

Sam Shah

2/10 starsCompleted
2 years, 3 months ago
The instructor makes a very basic mistake in section 2, "Understand how the FED intercedes the Market." He argues that a net inflow of funds (deposits) leads to a reduction in a bank's reserves (0:40) and that a net outflow of funds (withdrawals) leads to an increase in a bank's reserves (0:47). Of course, this is precisely the opposite of the truth! A cursory glance at any money and banking text will confirm this. The instructor makes some rather sloppy mistakes throughout the course. Just one example; in section 4 he refers to the monetary aggregate M1 as the "... amount of cash in circulation" ... of course, that would be M0! The instructor is also guilty of making rather vague statements. He implies that LIBOR is the analogue of the Fed Funds rate (section 2), which it is not (BOE Bank Rate would be correct), and then states "In London when banks borrow and lend from each other, they tend to do it for 90 days as opposed to ... The instructor makes a very basic mistake in section 2, "Understand how the FED intercedes the Market." He argues that a net inflow of funds (deposits) leads to a reduction in a bank's reserves (0:40) and that a net outflow of funds (withdrawals) leads to an increase in a bank's reserves (0:47). Of course, this is precisely the opposite of the truth! A cursory glance at any money and banking text will confirm this. The instructor makes some rather sloppy mistakes throughout the course. Just one example; in section 4 he refers to the monetary aggregate M1 as the "... amount of cash in circulation" ... of course, that would be M0! The instructor is also guilty of making rather vague statements. He implies that LIBOR is the analogue of the Fed Funds rate (section 2), which it is not (BOE Bank Rate would be correct), and then states "In London when banks borrow and lend from each other, they tend to do it for 90 days as opposed to one day ...". The truth is that USD LIBOR is fixed for seven maturities ranging from overnight to one year, but more importantly this has nothing to do with the sterling overnight money market where the BOE conducts monetary policy. In section 3 he states that when the Fed expanded its balance sheet under TARP it did so "... using capital they had." Huh? Overall, you get what you pay for, I guess.
Was this review helpful? Yes0
 Flag
Student profile image
Student profile image

Student

10/10 starsCompleted
2 years, 11 months ago
Excellent course. Provides a very good understanding of the FED and market system. Thanks NYIF for giving us the opportunity to take this course via edx.
Was this review helpful? Yes0
 Flag
Annesha Kar Gupta profile image
Annesha Kar Gupta profile image

Annesha Kar Gupta

10/10 starsCompleted
3 years, 1 month ago
Precise, but informative. Instructor is very much friendly, taught the whole module very interestingly. Thank you very much for this course.
Was this review helpful? Yes0
 Flag
Ricardo Morales profile image
Ricardo Morales profile image

Ricardo Morales

7/10 starsCompleted
3 years, 3 months ago
Good course. The instructor was quite accurate and clear in explaining the concepts. Thinking of taking the next courses of the program.
Was this review helpful? Yes0
 Flag
Jorge Alberto Fuentes Zapata profile image
Jorge Alberto Fuentes Zapata profile image

Jorge Alberto Fuentes Zapata

10/10 starsCompleted
3 years, 5 months ago
Three words: Brilliant, brilliant, brilliant! What a great quick module on the Fed. I encourage anyone interested in financial markets, the banking system, and/or the economy overall in the US and the world, this is a good place to start and it's free!
Was this review helpful? Yes0
 Flag
Jose P profile image
Jose P profile image

Jose P

10/10 starsCompleted
3 years, 10 months ago
A well structured course; didactically teaches the most important concepts, provides an overview of the operation, institutionalization and the history of the Fed.
Was this review helpful? Yes0
 Flag
Paul Hundal profile image
Paul Hundal profile image
10/10 starsCompleted
  • 138 reviews
  • 119 completed
3 years, 11 months ago
This course is extremely well presented. It provides a brief but accurate and thorough summary of the mechanics of the Federal Reserve Bank. I was very impressed. Anyone you wants to understand the basic structure of the system quickly should take this course. The instructor is an extremely effective speaker. Looking forward to the next in the series.
Was this review helpful? Yes0
 Flag

Rating Details


  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Rankings are based on a provider's overall CourseTalk score, which takes into account both average rating and number of ratings. Stars round to the nearest half.