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Mishkin gives a good explanation of what banks do. (Marginal Revolution does as well. Find those videos under section 4 at the following link https://mru.org/principles-economics-macroeconomics-0

Mishkin gives a good explanation of what banks do. (Marginal Revolution does as well. Find those videos under section 4 at the following link https://mru.org/principles-economics-macroeconomics-0 ) So, what do banks do? (Bank=financial system.) What happens when banks can't do what they do? In your answer, be sure to discuss asymmetric information.

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