The purpose of the BEC422 module is to provide understanding of issues in the role of money in the economy and the operation of the monetary and financial system and policy by the application of appropriate economic principles, frameworks and analytical techniques. The BEC422 module addresses key issues in the theory and practice of financial markets, monetary policy and banking and how their interactions affect the real world. The financial system has undergone many changes since the credit crunch and the Central Banks have had the unenviable task of stimulating the economy, encouraging lending, managing inflation and exchange rates. This Module will focus on the financial system and monetary policy in countries around the world and present an opportunity to discuss the financial institutions and monetary policies of different nations, evaluating their relative success in recovering from the financial crisis.