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Fall 2014 - 62790 - PA393L - Advanced Policy Economics

Central Banking & Congressional Investigations

Instructor(s): Auerbach, Robert D.
Unique Number: 62790
Day & Time: Th 6:00 pm -9:00 pm
Room: SRH 3.314/355
Waitlist Information:For LBJ Students: UT Waitlist Information
Course Overview

Students are required to take an additional three-hour course in policy economics, selected from among a set of courses focusing on the application of economic theory and techniques to a specific area of public policy. Course options include macroeconomics, public finance, regulation, international trade and finance, natural resources and environmental policy, health policy, transportation policy, human resource development, urban and regional economic development, international development, education policy, social policy, and labor economics. Not all options are offered every year. This course is usually taken in the second year. 

Section Description

The central bank of the United States, the Federal Reserve, is the most powerful peacetime bureaucracy in the federal government. Its actions affect the economic well-being of United States residents and people around the world. Yet, few know much about it.  What they do know is often wrong. What powers does this central bank have? How is the United States money supply created and how does the Federal Reserve manage interest rates? Under what authority does the Federal Reserve appropriate loans to foreign countries bypassing the United States Congress House of Representatives? How has the Federal Reserve met its responsibilities to reduce gender and racial bias in bank lending? How did the Federal Reserve manage its fleet of 500-plus airplanes that delivered paper checks across the country every weekday night? What happened to the transcripts of its meetings that it kept secret for seventeen years and why did it begin to shred its records in 1994? How is the Federal Reserve connected to the banks it regulates? How has Congress carried out its oversight responsibilities over this powerful government bureaucracy?

For some recent subjects that will be covered see Robert Auerbach, Huffington Post: