Course glossary

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During lectures you will learn new words. Using this link you are welcome to add them to our "course glossary", so that other students will be able to see them and learn. Let's make our own useful glossary and help each other to learn new words! By the way, there are already some worlds which should be familiar for you till the end of the course, try to cover them when you mill have free time.


Browse the glossary using this index

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O

Official reserves account

The FED’s adjustment of a deficit or surplus in the current and capital account by the addition or subtraction of foreign currencies so that the balance of payments is zero.

Open market operations

A tool of monetary policy, it involves the FED’s buying or selling of securities to or from commercial banks and the general public.

Opportunity cost

The value of the sacrifice made to pursue a course of action.