For students in the Money and Banking Economics course. This book is also suitable for readers interested in learning about money, banking, and the financial system in the context of contemporary events, policy, and business.
Make the link between theory and real-world easier with the most up-to-date Money and Banking textbook on the market today!
Hubbard/O'Brien's textbook presents Money, Banking, and the Financial System in the context of contemporary events, policy, and business with an integrated explanation of today’s financial crisis. Reviewers tell us that Hubbard/O'Brien helps make the link between theory and real-world easier for students!
The second edition retains the modern approach of the first edition, while incorporating several changes to address feedback from instructors and students and also to reflect the authors’ own classroom experiences.
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Table of Contents
PART I. FOUNDATIONS
1. Introducing Money and the Financial System
2. Money and the Payments System
3. Interest Rates and Rates of Return
4. Determining Interest Rates
PART II. FINANCIAL MARKETS
5. The Risk Structure and Term Structure of Interest Rates
6. The Stock Market, Information, and Financial Market Efficiency
7. Derivatives and Derivative Markets
8. The Market for Foreign Exchange
PART III. FINANCIAL INSTITUTIONS
9. Transactions Costs, Asymmetric Information, and the Structure of the Financial System
10. The Economics of Banking
11. Investment Banks, Mutual Funds, Hedge Funds, and the Shadow Banking System
12. Financial Crises and Financial Regulation
PART IV. MONETARY POLICY
13. The Federal Reserve and Central Banking
14. The Federal Reserve’s Balance Sheet and the Money Supply Process
15. Monetary Policy
16. The International Financial System and Monetary Policy
PART V. THE FINANCIAL SYSTEM AND THE MACROECONOMY
17. Monetary Theory I: The Aggregate Demand and Aggregate Supply Model
18. Monetary Theory II: The IS—MP Model
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