Hubbard and O'Brien provide extensive analysis of the financial events of the past few years. These events are sufficiently important to be incorporated into the body of the text rather than just added as boxed-off features. In particular, they stress the lesson policymakers recently learned the hard way: What happens in the ever-expanding part of the financial system that does not involve commercial banks is of vital importance to the entire economy.
This exciting text presents students with the underlying economic explanations of why the financial system is organized as it is and how the financial system is connected to the broader economy. Due to the overwhelming success of their principles of economics textbook, Hubbard and O'Brien have employed a similar approach in this textbook: They provide students with a framework that allows them to apply the theory that they learn in the classroom to the practice of the real world.
By learning this framework, students will understand not just the 2007—2009 financial crisis and other past events but also developments in the financial system during the years to come. To achieve this goal, they have built four advantages into this text:
1. A framework for understanding, evaluating, and predicting 2. A modern approach 3. Integration of international topics 4. A focus on the Federal Reserve
著者信息
作者簡介
R. Glenn Hubbard
現職:Columbia University
Anthony Patrick O’Brien
現職:Lehigh University
圖書目錄
PART I: FOUNDATIONS Ch 1 Introducing Money and the Financial System Ch 2 Money and the Payments System Ch 3 Interest Rates and Rates of Return Ch 4 Determining Interest Rates
PART II: FINANCIAL MARKETS Ch 5 The Risk Structure and Term Structure of Interest Rates Ch 6 The Stock Market, Information, and Financial Market Efficiency Ch 7 Derivatives and Derivative Markets Ch 8 The Market for Foreign Exchange
PART III: FINANCIAL INSTITUTIONS Ch 9 Transactions Costs, Asymmetric Information, and the Structure of the Financial System Ch10 The Economics of Banking Ch11 Investment Banks, Mutual Funds, Hedge Funds, and the Shadow Banking System Ch12 Financial Crises and Financial Regulation
PART IV: MONETARY POLICY Ch13 The Federal Reserve and Central Banking Ch14 The Federal Reserve’s Balance Sheet and the Money Supply Process Ch15 Monetary Policy Ch16 The International Financial System and Monetary Policy
PART V: THE FINANCIAL SYSTEM AND THE MACROECONOMY Ch17 Monetary Theory I: The Aggregate Demand and Aggregate Supply Model Ch18 Monetary Theory II: The IS—MP Model