Economics of Money, Banking and Financial Markets, The, Global Edition, 13th edition

Published by Pearson (August 17, 2021) © 2022
Frederic S Mishkin

Title overview

Teach your students the principles of economics and show them how to apply their knowledge in their professional and personal lives

The Economics of Money, Banking and Financial Markets, 13th edition, draws on Mishkin's experience as Governor of the Federal Reserve to bring unique a perspective to questions surrounding financial policy. Providing an analytical framework for learning that fits a wide variety of syllabi, the text allows you to teach your course with expert insights.

This authoritative text will ensure your students have the tools they need to apply the principles contained within to both their personal and professional lives.

This title is available with MyLab®Economics.

Hallmark features of this title

A structure that facilitates effective teaching and learning.

  • A unifying, analytical framework enables students to analyse the structure of financial markets.
  • A flexible and modular design meets the diverse needs of instructors, meaning chapters, or sections of chapters, can be used or omitted according to instructor preferences.

Learner resources help your students retain the material.

  • Graphs and Mini-Lecture Videos with detailed captions help students grasp the interrelationships among the plotted variables and the principles of analysis.
  • More than 50 Applications show how the analysis presented can be used to explain many important real-world situations.
  • More than 600 end-of-chapter exercises help students apply economic concepts.

New and updated features of this title

Timely coverage of important economic events.

  • Compelling new material on the coronavirus pandemic has been added to many parts of the book, showing the importance of banks, financial markets, and monetary policy to the health of the economy. Highlights include:
    • A new application on the stock market crash of 2020 and the likelihood that the pandemic could lead to another financial crisis (Chapter 12).
    • A new application on the effects of quantitative easing on the money supply during the pandemic.
    • An update to the section on nonconventional monetary policy tools and quantitative easing.

Coverage of other new developments in the field keep the text current and relevant.

    • A new application on the effects of the Trump tax cuts on bond interest rates.
    • A new Global box on the variation in central banks' activism and the method of intervention on foreign exchange markets. In addition, Chapters 18 and 19 have been heavily updated to include new running examples.
    • A new FYI box on Modern Monetary Theory discusses this new theory that argues that the Green New Deal can be easily paid for by having the Federal Reserve buy government bonds to fund the resulting large budget deficits.

Key features

Features of MyLab® Economics for the 13th Edition

MyLab® is the learning platform that allows instructors to reach every student with powerful self-study material and assessments.
  • Teach your course your way: Whether you would like to build assignments or create your own questions, MyLab Economics gives you the flexibility to create a course to fit your needs.
  • Empower each learner: Personalised learning pinpoints the precise areas where each student needs practice, giving all students the support they need to be successful.
  • Improve student results: When you teach with MyLab, student performance often improves. That is why instructors have chosen MyLab for over 15 years, touching the lives of over 50 million students.
Included tools:
  • Use Learning Catalytics to engage students in more interactive tasks and thinking. Learning Catalytics fosters student engagement and peer-to-peer learning with real-time analytics.
  • Econ Experiments are single and multiplayer player experiments that allow students to make decisions in a risk free environment, helping them understand economics in the real world.
  • Real-time data analysis exercises use up-to-the-minute, real-time macroeconomic data from the Federal Reserve Bank of St. Louis's FRED site. Every time FRED posts new data, students see new data.

Discover more about MyLab®Economics.

Features of Pearson eText for the 13th Edition

Extend learning beyond the classroom with Pearson eText.
Optimise study time
  • Find it fast. Enhanced search makes it easy to find a key term or topic to study. Students can also search videos, images, and their own notes.
  • Get organised and get results. Students can customise how they study and add their own notes, bookmarks, and highlights directly in their eText.
  • Study in a flash. Students can use pre-built flashcards or create their own to study how they like.
Meet students where they are
  • Read online or offline. With the mobile app, you and your students can access your eText anytime, even offline.
  • Listen anywhere. Learners can listen to the audio version of their eText for most titles, whether at home or on the go.
  • Watch and learn. Videos and animations within the eText bring tricky concepts to life (available in selected titles).

Table of contents

Brief Contents

PART I: Introduction

  1. Why Study Money, Banking, and Financial Markets?
  2. An Overview of the Financial System
  3. What Is Money?

PART II: Financial Markets

  1. The Meaning of Interest Rates
  2. The Behavior of Interest Rates
  3. The Risk and Term Structure of Interest Rates
  4. The Stock Market, the Theory of Rational Expectations, and the Efficient Market Hypothesis

PART III: Financial Institutions

  1. An Economic Analysis of Financial Structure
  2. Banking and the Management of Financial Institutions
  3. Economic Analysis of Financial Regulation
  4. Banking Industry: Structure and Competition
  5. Financial Crises in Advanced Economies
  6. Financial Crises in Emerging Market Economies

PART IV: Central Banking And The Conduct Of Monetary Policy

  1. Central Banks
  2. The Money Supply Process
  3. Tools of Monetary Policy
  4. The Conduct of Monetary Policy: Strategy and Tactics

PART V: International Finance and Monetary Policy

  1. The Foreign Exchange Market
  2. The International Financial System

PART VI: Monetary Theory

  1. Quantity Theory, Inflation, and the Demand for Money
  2. The IS Curve
  3. The Monetary Policy and Aggregate Demand Curves
  4. Aggregate Demand and Supply Analysis
  5. Monetary Policy Theory
  6. The Role of Expectations in Monetary Policy
  7. Transmission Mechanisms of Monetary Policy

Additional Chapters in Pearson Pearson Mylab Economics

  1. Nonbank Finance
  2. Financial Derivatives
  3. Conflicts of Interest in the Financial Services Industry

Author bios

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, co-director of the US Monetary Policy Forum, a member of the Squam Lake Working Group on Financial Reform, and past president of the Eastern Economics Association.

Professor Mishkin's research focuses on monetary policy and its impact on financial markets and the aggregate economy. He is the author of more than twenty books and has published more than 200 articles in prominent journals. Mishkin is currently an associate editor (member of the editorial board) at six academic journals.

Loading...Loading...Loading...