The Economics of Money, Banking and Financial Markets (9th Edition)

Book Preface

The Economics of Money, Banking, and Financial Markets set the standard for money and banking courses when it published in its first edition, and it continues to be the worldwide market leader. The historic economic events and financial crises of late 2008 have changed the entire landscape of money and banking. Having just served as Governor of the Federal Reserve, only Mishkin has the unique insider’s perspective needed to present the current state of money and banking and explain the latest debates and issues for today’s readers.

Introduction: Why Study Money, Banking, and Financial Markets?; An Overview of the Financial System; What Is Money? Financial Markets: Understanding Interest Rates; The Behavior of Interest Rates; The Risk and Term Structure of Interest Rates; The Stock Market, the Theory of Rational Expectations, and the Efficient Market Hypothesis. Financial Institutions: An Economic Analysis of Financial Structure; Financial Crises and the Subprime Debacle; Banking and the Management of Financial Institutions; Economic Analysis of Financial Regulation; Banking Industry: Structure and Competition. Central Banking and the Conduct of Monetary Policy: Structure of Central Banks and the Federal Reserve System; The Money Supply Process; Tools of Monetary Policy; What Should Central Banks Do? Monetary Policy Goals, Strategy, and Tactics. International Finance and Monetary Policy: The Foreign Exchange Market; The International Financial System. Monetary Policy: The Demand for Money; The ISLM Model; Monetary and Fiscal Policy in the ISLM Model; Aggregate Demand and Supply Analysis; Transmission Mechanisms of Monetary Policy: The Evidence; Money and Inflation; Rational Expectations: Implications for Policy.

Contents
Chapter 1 Why Study Money, Banking, and Financial Markets?.
Chapter 2 An Overview of the Financial System.
Chapter 3 What Is Money?
Chapter 4 Understanding Interest Rates.
Chapter 5 The Behavior of Interest Rates..
Chapter 6 The Risk and Term Structure of Interest Rates
Chapter 7 The Stock Market, the Theory of Rational Expectations, and the Efficient Market Hypothesis
Chapter 8 An Economic Analysis of Financial Structure..
Chapter 9 Financial Crises and the Subprime Meltdown.
Chapter 10 Banking and the Management of Financial Institutions
Chapter 11 Economic Analysis of Financial Regulation.
Chapter 12 Banking Industry: Structure and Competition
Chapter 13 Central Banks and the Federal Reserve System
Chapter 14 The Money Supply Process
Chapter 15 Tools for Monetary Policy
Chapter 16 The Conduct of Monetary Policy: Strategy and Tactics.
Chapter 17 The Foreign Exchange Market
Chapter 18 The International Financial System
Chapter 19 The Demand for Money..
Chapter 20 The ISLM Model.
Chapter 21 Monetary and Fiscal Policy in the ISLM Model
Chapter 22 Aggregate Demand and Supply Analysis .
Chapter 23 Transmission Mechanisms of Monetary Policy: The Evidence
Chapter 24 Money and Inflation
Chapter 25 Rational Expectations: Implications for Policy