The 2024 Release of Cecchetti & Schoenholtz's Money, Banking, and Financial Markets boasts an innovative approach to enhancing coherence, relevance, and timeliness in the study of Money and Banking for economics students. In a world where money, banking, and financial markets are in constant flux, this release introduces cutting-edge features to keep pace with evolving dynamics. This release captures the impact of the Covid-19 pandemic (including implications for inflation and employment dynamics), explore the forefront of changes in payments technology and the future of money, discover the evolution of central bank strategy and operating procedures, and gain insights into the consequences of the 2023 U.S. banking crisis.
Continuing its distinctive approach, the text emphasizes the Five Core Principles, delivers an early introduction to risk, offers an integrated global perspective, and seamlessly integrates FRED data. The authors also host a blog at www.moneyandbanking.com where you can find short, informed discussions and articles on issues in the news, as well as technical points relevant for both students and instructors.
PART I: MONEY AND THE FINANCIAL SYSTEM
1 An Introduction to Money and the Financial System
2 Money and the Payments System
3 Financial Instruments, Financial Markets, and Financial Institutions
PART II: INTEREST RATES, FINANCIAL INSTRUMENTS, AND FINANCIAL MARKETS
4 Future Value, Present Value, and Interest Rates
5 Understanding Risk
6 Bonds, Bond Prices, and the Determination of Interest Rates
7 The Risk and Term Structure of Interest Rates
8 Stocks, Stock Markets, and Market Efficiency
9 Derivatives Futures, Options, and Swaps
10 Foreign Exchange
PART III: FINANCIAL INSTITUTIONS
11 The Economics of Financial Intermediation
12 Depository Institutions Banks and Bank Management
13 Financial Industry Structure
14 Regulating the Financial System
PART IV: CENTRAL BANKS, MONETARY POLICY, AND FINANCIAL STABILITY
15 Central Banks in the World Today
16 The Structure of Central Banks The Federal Reserve and the European Central Bank
17 The Central Bank Balance Sheet and the Money Supply Process
18 Monetary Policy Stabilizing the Domestic Economy
19 Exchange Rate Policy and the Central Bank
PART V: MODERN MONETARY ECONOMICS
20 Money Growth, Money Demand, and Modern Monetary Policy
21 Output, Inflation, and Monetary Policy
22 Understanding Business Cycle Fluctuations
23 Modern Monetary Policy and the Challenges Facing Central Bankers
