Principles of Money, Banking & Financial Markets
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.
More details
Other editions
Additional editions
Previous edition
Content
Chapter 1. Introducing Money, Banking, and Financial Markets
An Overview
Why Study Money, Banking, and Financial Markets?
Careers in Banking and Financial Markets
Chapter 2. The Role of Money in the Macroeconomy
Introducing Money
Money, the Economy, and Inflation
Chapter 3. Financial Instruments, Markets, and Institutions
Flow of Funds
Financial Instruments and Markets
Financial Intermediaries: Purposes and Profile
Part II: Financial Instruments and Markets
Chapter 4. Interest Rate Measurement and Behavior
Calculating Interest Rates
What Determines the Level of Interest Rates?
Chapter 5. The Term and Risk Structure of Interest Rates
The Term Structure of Rates and the Yield Curve
Risk and Tax Structure of Rates
Appendix: Bond Price Volatility: Duration Versus Maturity
Chapter 6. The Structure and Performance of Securities Markets
Nature and Function of Securities Markets
Efficiency of Secondary Market Trading
Efficient Capital Markets and Regulation
Chapter 7. The Pricing of Risky Financial Assets
Economic Uncertainty
Principles of Diversification
The Risk Premium on Risky Securities
Chapter 8. Money and Capital Markets
The Government Bond Market
Bank-Related Securities: CDs and Eurodollars
Corporate Securities
Municipal Securities
Mortgage Securities
The Stock Market
Chapter 9. Demystifying Derivatives
An Overview of Financial Futures
An Overview of Options Contracts
An Overview of Swaps
Chapter 10. Understanding Foreign Exchange
What Determines Foreign Exchange Rates?
Fixed Versus Floating Exchange Rates
Part III: Banks and Other Intermediaries
Chapter 11. The Nature of Financial Intermediation
The Economics of Financial Intermediation
The Evolution of Financial Intermediaries in the United States
Financial Intermediaries: Assets, Liabilities, and Management
Chapter 12. Depository Financial Institutions
The Fundamentals of Bank Management
Major Trends in Bank Management
Nonbank Depository Institutions-The Thrifts
Chapter 13. Nondepository Financial Institutions
Insurance Companies and Pension Funds
Mutual Funds
Finance Companies
Securities Brokers and Dealers and Investment Banks
Venture Capital Funds, Mezzanine Debt Funds, and Hedge Funds
Banks Versus Nondepository Institutions
Part IV: Financial System Architecture
Chapter 14. Understanding Financial Contracts
How Business Obtains Financing
The Economics of Financial Contracting
Chapter 15. The Regulation of Markets and Institutions
The Regulation of Financial Markets in the United States
The Regulation of Commercial Banks in the United States
Regulation of Nondepository Financial Intermediaries
Where Securities Market and Banking Regulation Meet: The Glass-Steagall Act, A Collapsing Barrier
Chapter 16. Financial System Design
Information and Financial System Design
Financial System Design: A Descriptive Summary of Germany, Japan, the United Kingdom, and the United States
Financial System Design and Conflict Resolution: Germany, Japan, the United Kingdom, and the United States
Financial System Design for Eastern Europe and Other Emerging Economies
Part V: The Art of Central Banking
Chapter 17. Who's in Charge Here?
Formal Structure of the Federal Reserve System
The Realities of Power
The Problem of Federal Reserve Independence
Chapter 18. Bank Reserves and the Money Supply
Check Clearing and Collection
Deposit Expansion: The Single Bank
Deposit Expansion: