Money, Banking, and Financial Markets / Edition 3

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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&#39s 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rules and institutional structure so that even when the financial system evolves, students' knowledge will not be out of date.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&#39s 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: 9/29/2010
  • Edition description: Older Edition
  • Edition number: 3
  • Pages: 704
  • Sales rank: 335,931
  • Product dimensions: 8.10 (w) x 10.10 (h) x 1.10 (d)

Table of Contents

Ch. 1 An introduction to money and the financial system 2
Ch. 2 Money and the payments system 13
Ch. 3 Financial instruments, financial markets, and financial institutions 35
Ch. 4 Future value, present value, and interest rates 62
Ch. 5 Understanding risk 90
Ch. 6 Bonds, bond prices, and the determination of interest rates 119
Ch. 7 The risk and term structure of interest rates 149
Ch. 8 Stocks, stock markets, and market efficiency 177
Ch. 9 Derivatives : futures, options, and swaps 202
Ch. 10 Foreign exchange 228
Ch. 11 The economics of financial intermediation 259
Ch. 12 Depository institutions : banks and bank management 286
Ch. 13 Financial industry structure 317
Ch. 14 Regulating the financial system 349
Ch. 15 Central Banks in the world today 376
Ch. 16 The structure of Central Banks : the federal reserve and the European Central Bank 401
Ch. 17 The Central Bank balance sheet and the money supply process 426
Ch. 18 Monetary policy : using interest rates to stabilize the domestic economy 460
Ch. 19 Exchange-rate policy and the Central Bank 489
Ch. 20 Money growth, money demand, and modern monetary policy 519
Ch. 21 Modern monetary policy and aggregate demand 550
Ch. 22 Understanding business cycles 584
Ch. 23 Monetary policy, output, and inflation in the short run 618
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