Money, Banking, and Financial Markets / Edition 3

Money, Banking, and Financial Markets / Edition 3

by Stephen Cecchetti, Kermit Schoenholtz
     
 

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

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Overview

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rules and institutional structure so that even when the financial system evolves, students' knowledge will not be out of date.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.

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Product Details

ISBN-13:
9780073375908
Publisher:
McGraw-Hill Higher Education
Publication date:
09/29/2010
Edition description:
Older Edition
Pages:
704
Sales rank:
793,897
Product dimensions:
8.10(w) x 10.10(h) x 1.10(d)

Table of Contents

Ch. 1An introduction to money and the financial system2
Ch. 2Money and the payments system13
Ch. 3Financial instruments, financial markets, and financial institutions35
Ch. 4Future value, present value, and interest rates62
Ch. 5Understanding risk90
Ch. 6Bonds, bond prices, and the determination of interest rates119
Ch. 7The risk and term structure of interest rates149
Ch. 8Stocks, stock markets, and market efficiency177
Ch. 9Derivatives : futures, options, and swaps202
Ch. 10Foreign exchange228
Ch. 11The economics of financial intermediation259
Ch. 12Depository institutions : banks and bank management286
Ch. 13Financial industry structure317
Ch. 14Regulating the financial system349
Ch. 15Central Banks in the world today376
Ch. 16The structure of Central Banks : the federal reserve and the European Central Bank401
Ch. 17The Central Bank balance sheet and the money supply process426
Ch. 18Monetary policy : using interest rates to stabilize the domestic economy460
Ch. 19Exchange-rate policy and the Central Bank489
Ch. 20Money growth, money demand, and modern monetary policy519
Ch. 21Modern monetary policy and aggregate demand550
Ch. 22Understanding business cycles584
Ch. 23Monetary policy, output, and inflation in the short run618

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