Loose-Leaf Money, Banking and Financial Markets

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September 30, 2010


Loose-leaf, 416 pages


0077445937 / 9780077445935


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Main description

Cecchetti & Schoenholtz Money, Banking, and Financial Markets, 3rd edition offers a fresh, modern, and more student-friendly approach. Students will find the material relevant and interesting because of the book’s unique emphasis on the Five Core Principles, the early introduction of risk, and an integrated global perspective. By focusing on the big picture via core principles, Cecchetti & Schoenholtz teaches students the rationale for financial rules and institutional structure so that even when the financial system evolves, students’ knowledge will not be out of date.

The worldwide financial crisis of 2007‐2009 was the most severe since that of the 1930s, and the recession that followed was the most widespread and costly since the Great Depression. Around the world, it cost tens of millions of workers their jobs. In the United States, millions of families lost their homes and their wealth. To stem the crisis, governments and central banks took aggressive and, in many ways, unprecedented actions. As a result, change will be sweeping through the world of banking and financial markets for years to come. Just as the crisis is transforming the financial system and government policy, it is transforming the study of money and banking. Against this background, students who memorize the operational details of today’s financial system are investing in a short‐lived asset. Cecchetti & Schoenholtz Money, Banking, and Financial Markets, 3e focuses on the basic functions served by the financial system while deemphasizing its current structure and rules. Learning the economic rationale behind current financial tools, rules, and structures is much more valuable than concentrating on the tools, rules, and structures themselves. Students will gain the ability to understand and evaluate whatever financial innovations and developments they confront.

Table of contents

Part I. Money and the Financial SystemChapter 1 An Introduction to Money and the Financial SystemChapter 2 Money and the Payments SystemChapter 3 Financial Instruments, Financial Markets, and Financial InstitutionsPart II. Interest Rates, Financial Instruments, and Financial MarketsChapter 4 Future Value, Present Value, and Interest RatesChapter 5 Understanding RiskChapter 6 Bonds, Bond Prices, and the Determination of Interest RatesChapter 7 The Risk and Term Structure of Interest RatesChapter 8 Stocks, Stock Markets, and Market EfficiencyChapter 9 Derivatives: Futures, Options, and SwapsChapter 10 Foreign ExchangePart III. Financial InstitutionsChapter 11 The Economics of Financial IntermediationChapter 12 Depository Institutions: Banks and Bank ManagementChapter 13 Financial Industry StructureChapter 14 Regulating the Financial SystemPart IV. Central Banks, Monetary Policy, and Financial StabilityChapter 15 Central Banks in the World TodayChapter 16 The Structure of Central Banks: The Federal Reserve and the European Central BankChapter 17 The Central Bank Balance Sheet and the Money Supply ProcessChapter 18 Monetary Policy: Stabilizing the Domestic EconomyChapter 19 Exchange Rate Policy and the Central BankPart V. Modern Monetary EconomicsChapter 20 Money Growth, Money Demand, and Monetary PolicyChapter 21 Output, Inflation, and Monetary PolicyChapter 22 Understanding Business Cycle FluctuationsChapter 23 Modern Monetary Policy and the Challenges Facing Central Bankers

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