Economics of Money, Banking, and Financial Markets, Business School Edition, The (2nd Edition) [Hardcover]

Frederic S. Mishkin (Author)

Book Description

ISBN-10: 0321599888 | ISBN-13: 978-0321599889 | Publication Date: July 25, 2009 | Edition: 2

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. For professors who teach with less emphasis on monetary theory and prefer to focus more time on financial institutions, the Business School Edition is the ideal alternative.

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; Nonbank Finance; Financial Derivatives; Conflicts of Interest in the Financial Industry. 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; Aggregate Demand and Supply Analysis; Transmission Mechanisms of Monetary Policy: The Evidence; Money and Inflation.

For all readers interested in money, banking, and financial markets.

Editorial Reviews

Review

“The Mishkin text matters. The ideas and principles throughout the book are important for students and policymakers. The text is well organized, and I have never read any better explanation of economic principles.”
–J. Robert Gillette, University of Kentucky
 
“Mishkin’s textbook is informative, well-written, and approachable by both economics majors and non-majors.”
–Gabriele Camera, Purdue University
 
“Mishkin is by far the best book in the field. It is complete and exhaustive.”
–Joao Ricardo Faria, University of Texas—Dallas

“Mishkin is by far the most complete and concise reference on the market for students taking financial economics and monetary policy courses.”
–J. Reynolds, Northern Illinois University

“The quality of the writing style and the updated coverage of topics make this a great book.”
–Phillip Lane, Fairfield University

“I have my students telling me at the end of the semester [that] they have enjoyed reading the book.”
–Alla A. Melkumian, Western Illinois University

“[Mishkin] is relevant, challenging, and interesting. It provides clear explanations of monetary theory and policy. It is up-to-date. The Federal Reserve material features an insider’s perspective.”
–Linda Hooks, Washington and Lee University

“The use of economic analysis gives students a deeper understanding and attracts their interest. The extensive presentation of charts appeals to visual learners and the associated PowerPoint slides give instructors useful visual aids for classroom lectures.”
–Fiona Mclachlan, Manhattan College

About the Author

Frederic S. Mishkin is the Alfred Lerner Professor of Banking and Financial Institutions at the Graduate School of Business, Columbia University. He is also a Research Associate at the National Bureau of Economic Research, and from September 2006 to August 2008 was a member (governor) of the Board of Governors of the Federal Reserve System. He has also been a Senior Fellow at the FDIC Center for Banking Research, and past President of the Eastern Economic Association. Since receiving his PhD from the Massachusetts Institute of Technology in 1976, he has taught at the University of Chicago, Northwestern University, Princeton University, and University Columbia. He has also received an honorary professorship from the Peoples (Renmin) University of China. From 1994 to 1997 he was Executive Vice President and Director of Research at the Federal Reserve Bank of New York and an associate economist of the Federal Open Market Committee of the Federal Reserve System.

Product Details

• Hardcover: 768 pages
• Publisher: Addison Wesley; 2 edition (July 25, 2009)
• Language: English
• ISBN-10: 0321599888
• ISBN-13: 978-0321599889
• Product Dimensions: 10.1 x 8.7 x 1.2 inches
• Shipping Weight: 3.4 pounds (View shipping rates and policies)
• Average Customer Review: 4.2 out of 5 stars  See all reviews (32 customer reviews)
• Amazon Best Sellers Rank: #11,329 in Books (See Top 100 in Books)
  • #15 in Books > Business & Investing > Industries & Professions > Banks & Banking
  • #79 in Books > Business & Investing > Finance

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Customer Reviews

Most Helpful Customer Reviews

19 of 21 people found the following review helpful:

4.0 out of 5 stars Pretty good book for intermediate level, July 11, 2004

By 

Poh Teck Leng (Singapore, Asia) - See all my reviews

This review is from: Economics of Money, Banking, and Financial Markets, Update Edition, The (6th Edition) (Hardcover)

Design:
The book is designed well with appropriate headings and sub-headings making it smooth to read and navigate. The language used is also well understood.

Content:
This book introduces the various financial markets: bond, stock, foreign exchange and a brief discussion on derivatives. It gives a general idea and analysis behind the operating mechanisms of monetary policies, paving the way for further studies into the topics.

Its main focus is on the U.S. economy, and includes applications in the European Union and Asia as well. Small sections are devoted to real world applications, with reference to the concepts taught.

For who:
On the other hand, this book remains an introduction to monetary economies and is not for students seeking detailed analysis. Students should also have a basic background on economics in order to utilize the text to the fullest.

14 of 15 people found the following review helpful:

4.0 out of 5 stars Very good treatment of the role of money, July 15, 2002

By 

"venkas72" (Schaumburg, IL United States) - See all my reviews

This review is from: Economics of Money, Banking, and Financial Markets, The (Addison-Wesley Series in Economics) (Textbook Binding)

The author is very good in leading the reader through how money and its avaliability play an important role in determining the economy of any country.
The banking industry and its role are covered as well - starting from a historical perspective to the present day. Our class was doing a chapter on the various reforms in the banking industry when the Enron-Anderson scandal happened. We had some very though-provoking discussions in the class based on the material in the text.
While I am not a complete stranger to economics, I took home a lot of valuable information by the time I was done with this course and this text book. I only wish the publishers had included a CD ROM of real-world exercises / problems that stimulate thought on issues to consider when determining monetary policy.

10 of 12 people found the following review helpful:

4.0 out of 5 stars Perfect Introductory Book for Money and Bank Theory, April 8, 2000

By 

Enrique Fernandez (Santo Domingo, Dominican Republic) - See all my reviews

This review is from: The Economics of Money, Banking, and Financial Markets (Hardcover)

Perfect for an introductory course in Banking and Monetary Theory. Requires a preview of basic economics to really get the most benefits. Undergraduate students would surely appreciate it.