Money, Banking and Financial Markets, 2nd Edition

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Cecchetti’s Money, Banking, and Financial Markets, 2e offers a fresh, modern, and more student-friendly approach to the subject. Students will find the material more 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. Cecchetti is THE money and banking book for today’s students. By focusing on the big picture via core principles, Cecchetti 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rules and institutional structure so that even when the financial system evolves, students’ knowledge will not be out of date.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 author draws on his vast experience, which includes: VP at the Federal Reserve Bank of New York, publishing in and editing various journals, consulting for the European Central Bank, the Bank of England, the Bank of Israel, and the Reserve Bank of Australia, as well as his years of teaching at various schools including Ohio State, Brandeis, Princeton, and Oxford University.

Table of Contents

Part I. Money and the Financial System
Chapter 1 An Introduction to Money and the Financial System
Chapter 2 Money and the Payments System
Chapter 3 Financial Instruments, Financial Markets, and Financial Institutions
Part II. Interest Rates, Financial Instruments, and Financial Markets
Chapter 4 Future Value, Present Value, and Interest Rates
Chapter 5 Understanding Risk
Chapter 6 Bonds, Bond Prices, and the Determination of Interest Rates
Chapter 7 The Risk and Term Structure of Interest Rates
Chapter 8 Stocks, Stock Markets, and Market Efficiency
Chapter 9 Derivatives: Futures, Options, and Swaps
Chapter 10 Foreign Exchange
Part III. Financial Institutions
Chapter 11 The Economics of Financial Intermediation
Chapter 12 Depository Institutions: Banks and Bank Management
Chapter 13 Financial Industry Structure
Chapter 14 Regulating the Financial System
Part IV. Central Banks, Monetary Policy, and Financial Stability
Chapter 15 Central Banks in the World Today
Chapter 16 The Structure of Central Banks: The U.S. Federal Reserve & European Central Bank
Chapter 17 The Central Bank Balance Sheet and the Money Supply Process
Chapter 18 Monetary Policy: Using Interest Rates to Stabilize the Domestic Economy
Chapter 19 Exchange Rate Policy and the Central Bank
Part V. Modern Monetary Economics
Chapter 20 Money Growth, Money Demand, and Monetary Policy
Chapter 21 Modern Monetary Policy and Aggregate Demand
Chapter 22 Understanding Business Cycles
Chapter 23 Monetary Policy, Output, and Inflation in the Short Run