Modern Money and Banking

A major revision of this undergraduate text, featuring a new co-author, this is virtually a new book. The extensively rewritten third edition presents the major recent institutional and theoretical developments in the field of money and banking and puts added emphasis on the theoretical content, but does not overwhelm the student with mathematics. Significantly more modern theory is included, particularly in the chapters on macroeconomics, with greater application of microeconomic theory as well. The student should benefit from discussions of theory, institutions, and history, and from the host of learning tools including chapter previews, current controversies sections, chapter summaries, self-test questions, and an expanded number of problems. The third edition examines international aspects of money and banking with additional coverage in new highlight sections entitled "International Perspectives". There are new chapters on the role of credit markets and the interest rate (Ch.4), depository financial institutions (Ch.6), economic theory of bank behaviour and of banking markets (Ch.8), economic consequences of bank regulation (Ch.11), the savings and loan crisis (Ch.1 3), and the payments systems and the role of the Federal Reserve (Ch.16), along with new and revised material in virtually every section of the book. Also available are an instructor's manual (0-07-042336-9); test bank (0-07-042337-7); study guide by Michael Morgan, College of Charleston (0-07-042338-5); money and banking tools in IBM 5.25" (0-07-837501-0), IBM 3.5" (0-07-833717-8) and Macintosh version (0-07-833718-6); and computerized test bank in IBM 5.25" (0-07-833719-4) and 3.5" (0-07-833720-8) version.