Money, the Financial System, and the Economy

by Hubbard, R. Glenn

• ISBN13: 9780321246394
• ISBN10: 032124639X
• Edition: 6th
• Format: Paperback
• Copyright: 2008-01-01
• Publisher: Addison Wesley

Summary

Hubbard builds his text upon the idea that students must develop an economic understanding for organizing concepts and facts, evaluate current and historical events using economic analysis, and use economic principles and tools to predict future outcomes and changes in the economic system.Hubbard's modern approach employs economic principles to illustrate the evolution and conduct of financial markets and institutions, drawing a full picture of the relationship between economic performance and the international developments within these markets and institutions.The Fifth Edition provides a timely perspective on key issues corporate accounting scandals, development in the international financial system, the post 911 recession, and more using relevant new data and up-to-the-minute real-world applications, while presenting it all in a clear, concise style.

Table of Contents

Introduction

Introducing Money and the Financial System

Money and the Payments System

Overview and the Financial System

Interest Rates

Interest Rates and Rates of Return

The Theory of Portfolio Allocation

Determining Market Interest Rates

Risk Structure and Term Structure of Interest Rates

Financial Markets

The Foreign Exchange Market and Exchange Rates

Derivative Securities and Derivative Markets

Information and Financial Market Efficiency

Reducing Transactions Costs and Information Costs

Financial Institutions

What Financial Institutions Do

The Business of Banking

The Banking Industry

Banking Regulation: Crisis and Response

Banking in the International Economy

The Money Supply Process And Monetary Policy

The Money Supply Process

Changes in the Monetary Base

Organization of Central Banks

Monetary Policy Tools

The Conduct of Monetary Policy

The International Financial System and Monetary Policy

The Financial System And The Macroeconomy

The Demand for Money

Linking the Financial System and the Economy: The IS-LM-FE Model

Aggregate Demand and Aggregate Supply

Money and Output in the Short Run

Information Problems and Channels for Monetary Policy

Inflation: Causes and Consequences

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