Money, Banking, and Financial Markets

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  • Format: Hardcover
  • Copyright: 2005-01-04
  • Publisher: McGraw-Hill/Irwin
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Stephen Cecchetti's new text on Money and Banking offers a fresh, more modern, and more student-friendly approach to the subject. The author has drawn on his vast experience as Vice President at the Federal Reserve Bank of New York, publishing in and editing various journals, and 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. 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rules and institutional structure so that even when the financial system evolves, students' knowledge will not be out of date.

Author Biography

Stephen G. Cecchetti joined the Brandeis University faculty in 2003 as a Professor of International Economics and Finance at the International Business School. He is also the Director of Research at the Rosenberg Institute for Global Finance at Brandeis.

Table of Contents

Money, Banking, and Financial Markets Brief 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

Appendix 4: The Algebra of Present-Value Formulas

Chapter 5. Understanding Risk

Appendix 5A: A Quick Test to Measure Your Risk Tolerance

Appendix 5B: The Mathematics of Diversification

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

Appendix 10: Interest Rate-Parity and Short-Run Exchange Rate Determination

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 and the 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

Appendix 19: What You Really Need to Know about the Balance of Payments

Part V. Modern Monetary Economics

Chapter 20. Money Growth, Money Demand, and Monetary Policy

Chapter 21. Monetary Policy and Aggregate Demand

Chapter 22. Understanding Business Cycles

Chapter 23. Monetary Policy, Output, and Inflation in the Short Run



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