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Full Description
Well-known for its engaging, conversational style, this text makes sophisticated concepts accessible, introducing students to how markets and institutions shape the global financial system and economic policy. Principles of Money, Banking & Financial Markets incorporates current research and data while taking stock of sweeping changes in the international financial landscape produced by financial innovation, deregulation, and geopolitical considerations.It is easy to encourage students to practice with MyEconLab, the online homework and tutorial system. New to the Twelfth Edition, select end-of-chapter exercises from the book are assignable in MyEconLab and preloaded problem sets allow students to practice even if the instructor has not logged in. For more information about how instructors can use MyEconLab, click here.
Contents
Part IChapter 1. Introducing Money, Banking, and Financial MarketsAn OverviewWhy Study Money, Banking, and Financial Markets? Careers in Banking and Financial MarketsChapter 2. The Role of Money in the MacroeconomyIntroducing MoneyMoney, the Economy, and InflationChapter 3. Financial Instruments, Markets, and InstitutionsFlow of FundsFinancial Instruments and MarketsFinancial Intermediaries: Purposes and ProfilePart II: Financial Instruments and MarketsChapter 4. Interest Rate Measurement and BehaviorCalculating Interest RatesWhat Determines the Level of Interest Rates? Chapter 5. The Term and Risk Structure of Interest RatesThe Term Structure of Rates and the Yield CurveRisk and Tax Structure of RatesAppendix: Bond Price Volatility: Duration Versus MaturityChapter 6. The Structure and Performance of Securities MarketsNature and Function of Securities MarketsEfficiency of Secondary Market TradingEfficient Capital Markets and RegulationChapter 7. The Pricing of Risky Financial AssetsEconomic UncertaintyPrinciples of DiversificationThe Risk Premium on Risky SecuritiesChapter 8. Money and Capital MarketsThe Government Bond MarketBank-Related Securities: CDs and EurodollarsCorporate SecuritiesMunicipal SecuritiesMortgage SecuritiesThe Stock MarketChapter 9. Demystifying DerivativesAn Overview of Financial FuturesAn Overview of Options ContractsAn Overview of SwapsChapter 10. Understanding Foreign ExchangeWhat Determines Foreign Exchange Rates? Fixed Versus Floating Exchange RatesPart III: Banks and Other IntermediariesChapter 11. The Nature of Financial IntermediationThe Economics of Financial IntermediationThe Evolution of Financial Intermediaries in the United StatesFinancial Intermediaries: Assets, Liabilities, and ManagementChapter 12. Depository Financial InstitutionsThe Fundamentals of Bank ManagementMajor Trends in Bank ManagementNonbank Depository Institutions-The ThriftsChapter 13. Nondepository Financial InstitutionsInsurance Companies and Pension FundsMutual FundsFinance CompaniesSecurities Brokers and Dealers and Investment BanksVenture Capital Funds, Mezzanine Debt Funds, and Hedge FundsBanks Versus Nondepository Institutions Part IV: Financial System ArchitectureChapter 14. Understanding Financial ContractsHow Business Obtains FinancingThe Economics of Financial ContractingChapter 15. The Regulation of Markets and InstitutionsThe Regulation of Financial Markets in the United StatesThe Regulation of Commercial Banks in the United States Regulation of Nondepository Financial IntermediariesWhere Securities Market and Banking Regulation Meet: The Glass-Steagall Act, A Collapsing BarrierChapter 16. Financial System DesignInformation and Financial System DesignFinancial System Design: A Descriptive Summary of Germany, Japan, the United Kingdom, and the United StatesFinancial System Design and Conflict Resolution: Germany, Japan, the United Kingdom, and the United StatesFinancial System Design for Eastern Europe and Other Emerging EconomiesPart V: Monetary TheoryChapter 17. The Classical FoundationsClassical EconomicsAggregate Demand and Supply: A SummaryReal Versus Nominal Rates of InterestModern Modifications: Monetarists and New ClassicistsAppendix: GDP Definitions and RelationshipsChapter 18. The Keynesian FrameworkWhen Saving Doesn't Equal Investment Consumption and Simple GDP DeterminationGovernment to the RescueMoney and the Rate of InterestMonetary Policy Aggregate Demand and SupplyChapter 19. The ISLM WorldThe LM CurveThe IS CurveThe Simultaneous Determination of Income and Interest: IS and LM TogetherMonetary and Fiscal PolicyISLM and Aggregate DemandAppendix: The Simple Algebra of Income DeterminationChapter 20. Money and Economic Stability in the ISLM WorldMonetary Policy, Fiscal Policy, and Crowing OutIs the Private Sector Inherently Stable?Flexible Prices, the Natural Rate of Interest, and Real Crowding OutAppendix: Interest Rates Versus the Money Supply Under UncertaintyChapter 21. An Aggregate Supply and Demand Perspective on Money and Economic StabilityIs the Private Sector Inherently Stable?Monetary Policy, Fiscal Policy, and Crowding OutInflation, Money, and the Phillips CurveInflation and Interest RatesShould a Robot Replace the Federal Reserve?Chapter 22. Rational Expectations: Theory and Policy ImplicationsWhen Are Expectations Rational?Anticipated Versus Unanticipated Monetary PolicyImplications for Stabilization PolicyInflation, the Phillips Curve, and CredibilityInterest Rates and Anticipated Monetary PolicyChapter 23. Empirical Evidence on the Effectiveness of Monetary PolicyLiving with VelocityThe Impact of Monetary Policy on GDPPart VI: Grand FinaleChapter 24. Tying It All TogetherThe Economic IndicatorsValuation, the Fed, and Market ReactionPutting It All TogetherGlossaryIndex
