Monetary Law & Regulation

4 credits · Undergraduate

This course surveys the history of US monetary law from its inception to the coming about of cryptocurrencies. We begin with a discussion of monetary affairs in colonial times and during the American Revolutionary War. We then examine the framework established at the Constitutional Convention. We cover the 19th century and New Deal Supreme Court cases that shaped US monetary law as we know it today. Finally we discusses contemporary legal dilemmas such as the regulation of bitcoin and stablecoins, the creation of central bank digital currencies, the workarounds of the US debt ceiling and the debate over the spectrum of the Fed’s legal authority. We conclude by revisiting some classic questions concerning the nature and functions of money.