Money, Banks & Financial Innovation
Module overview The Money, Banks & Financial Innovation module provides a rigorous discussion of the role of money, banks and other financial institutions in a modern economy. You will study the fragilities in fractional reserve banking, the role of the central bank, and the weaknesses caused by the shadow banking sector. Throughout this module, you will also explore the causes of historic bank failures and systemic crises, and you will explore the payment system and how fintech can be used in the banking system.
Who would benefit from this module? This module would benefit those working in financial regulation authorities, central banks as well as investment banks and rating agencies, as well as those working as Asset Managers and Reserves Managers as well as anyone who is involved in projects requiring due diligence.
Faculty This module is led by Dr Kebin Ma (Associate Professor of Finance at WBS). This module also features insights from Andy Haldane (Former Chief Economist and Executive Director, Monetary Analysis & Statistics, Bank of England), Professor Jean-Charles Rochet (University of Geneva), Professor Thorsten Beck (Economist), John Barrdear (Senior Research Economist, Monetary Assessment and Strategy Division, Bank of England), and Riccardo Masolo (Senior Economist, Monetary Analysis Division, Bank of England). Module structure ■ The module lasts for 17 weeks and culminates in an assessment ■ Module materials are organised into 10 lessons – each lasting one week ■ You can expect to spend around 11 hours studying per lesson ■ Lessons include reading materials, video interviews, discussion points, reflection activities ■ There are four wbsLive online sessions with your tutor.
Key benefits
Understanding Gain a broad understanding of the wider context in which financial institutions operate Tools Learn to use analytical tools from macroeconomics to understand the role of monetary policy in the macroeconomy Award Gain a Postgraduate Award upon successful completion
This module offers a unique blend of theory
and practice, exploring the important debates in the area. It is cutting-edge in terms of the material and the insights gained are valuable. Nishita Raje Global Central Banking and Financial Regulation qualification participant
Key information
Key topics covered
The module will run between February 2026 and June 2026
FinTech and the payment system: blockchain, smart contracts, and Artificial Intelligence CBDC (Central Bank Digital Currencies) the promise and the risks Non-bank financial intermediation – shadow banking and the regulatory perimeter
Importance and size of insurance market
Stylised facts on financial crises and procyclicality of credit Money, its origins and the source of its value, and fractional reserve banking Financial system: an overview and its functions in financing and risk-sharing Lender of last resort and rationales for deposit insurance
This module features a two-week induction period
Financial contagion across the interbank network
Amplification of shocks and so systemic risk
Please note that this is not an exhaustive list and we recommend you contact us for a more detailed discussion.
wbs.ac.uk/go/banking
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Global Central Banking & Financial Regulation qualification
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