Courses

HISTORY OF CURRENCY


Teaching Staff: Masonidis Antonis
Course Code: ΙΝΣ609
Course Type: Seminar
Course Level: Undergraduate
Course Language: Greek
Semester: 7th
ECTS: 5

Short Description:

The aim of the seminar is to investigate the historical evolution of money as one of the most important conceptions of culture. The seminar will focus mainly on the role that money plays as a mean of trading, valuation and preserving value in all expressions of human activity, such as politics, culture, religion, art. Another aim is to highlight the dialectics developed by the various schools of economic thought in relation to its functions.

The historical time of study will include the beginnings of the emergence of money, with a focus on the last five centuries in the Western World. From the barter of early societies and the conception of currency, from its use as a coinage for transactions and the introduction of the concept of credit and its credit instruments - such as banknotes, bill of exchange, bonds, or stock – to the era of electronic currency and cryptocurrency.


Objectives - Learning Outcomes:

The purpose of the seminar is twofold: the students, after considered basic economic concepts such as price, value, monetary credit, interest rate, inflation, intrinsic value etc., will undertake research on topics such as the evolution of financial instruments from the inventions of the Dutch and the Swedes of the 16th century, the British financial revolution of the 17th century, the speculative outbursts in the pre-industrial and industrial times, to the stock market crashes, and the Bretton Woods system.

The topic of the seminar is in the field of Financial History, which is part of Economic History.


Syllabus:

1st week: Money, Currency and Evolution

2nd week: Value and Price

3rd week: Financial innovations and commercial practices

4th week: Money and Art

5th week: The palaces of money

6th week: Economic thought and Money

7th week: Bubbles and stock markets

8th week: Capitalism, Religion and Spirit

9th week: Money, banks, poverty. An interconnected relationship?

10th week: The crisis of interwar

11th week: The currency in Greece

12th week: Cryptocurrencies and the lessons of History

13th week: Synopsis


Suggested Bibliography:

Students, in addition to the reference literature, will receive papers through the e-class platform, which will be commented on during the seminar.

 

  • Adam Smith, Έρευνα για τη Φύση και τις Αιτίες του Πλούτου των Εθνών (1776)

  • Charles P. Kindleberger, A Financial History of Western Europe (1984)
  • Charles P. Kindleberger, Manias, Panics and Crashes: A History of Financial Crises (1978)
  • Fernand Braudel, Υλικός Πολιτισμός Οικονομία και Καπιταλισμός, τ.1 (1995)
  • Fernand Braudel, Υλικός Πολιτισμός Οικονομία και Καπιταλισμός, τ.2 (1998)
  • John Kenneth Galbraith, Το Χρήμα: Από που Ήρθε που Πήγε (1975)
  • John Maynard Keynes, Η Γενική Θεωρία της Απασχόλησης, του Τόκου και του Χρήματος (1936)
  • Karl Marx, Το Κεφάλαιο, τ. I (1867)
  • Larry Neal, The Rise of Financial Capitalism (1990)
  • Max Weber, Η Προτεσταντική Ηθική και το Πνεύμα του Καπιταλισμού (1905)
  • Nial Ferguson, Η Εξέλιξη του Χρήματος (2008)
  • Robert Heilbroner, Η Γένεση της Οικονομικής Κοινωνίας (1963)
  • Robert Heilbroner, Οι Φιλόσοφοι του Οικονομικού Κόσμου (1953)
  • William N. Goetzmann, Money Changes Everything. How Finance Made Civilization Possible (2016)
  • William Stanley Jevons, Money and the Mechanism of Exchange (1875)
  • Ευάγγελος Προντζας, Η αυθεντία του Νομίσματος στη Νεοελληνική Κοινωνία (1995)
  • Συλλογικό, Χρήμα. Ιστορία (1997)

Teaching Methods:

Student attendance is compulsory and should cover 4/5 of the seminars during which the students make presentations on the specified topics. The content of the weekly lectures, the work topics and the presentation dates are selected and scheduled at the beginning of the semester in collaboration with the supervisor. Students presentations are accompanied by presentations by audiovisual media. Some of the presentations may take place outside the university area (as the Banknote Museum of the Ionian Bank etc.).


Evaluation Methods:

Students choose a subject in which they will present the topic of their choice and deliver a 5,000-word written assignment on exam day. The final grade is derived equally from the written project, from the presentation of it and from their active participation in the seminars.


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