Hubbard/O'Brien's textbook presents Money, Banking, and the Financial System in the context of contemporary events, policy, and business with an integrated explanation of today’s financial crisis. Reviewers tell us that Hubbard/O'Brien helps make the link between theory and real-world easier for students!
The second edition retains the modern approach of the first edition, while incorporating several changes to address feedback from instructors and students and also to reflect the authors’ own classroom experiences.
Features
Seamless Integration of Contemporary Events. Each chapter-opening case provides a real-world context for learning that sparks students’ interest in money and banking, and helps to unify the chapter material.
Key Issue-and-Question Approach. Each chapter opens and closes with a Key Issue-and-Question that helps students put the chapter’s contents in context.
Making the Connection. Each chapter includes two to four Making the Connection features that present real-world reinforcement of key concepts. This feature helps students learn how to interpret the news and current events they read online and in newspapers.
Solved Problem. Two or three worked-out problems are included in each chapter of this text so students get a chance to practice the application of the concepts in action. This feature brings students through the problems that may see in the end-of-chapter exercises and other assessments.
An Inside Look. An Inside Look is a two-page feature that shows students how to apply the concepts from the chapter to the analysis of a news article. The article and analysis links back to the chapter-opening case.
About the Author
R. Glenn Hubbard, Columbia University
Anthony P O'Brien
Table of Contents:
PART I. FOUNDATIONS
1. Introducing Money and the Financial System
2. Money and the Payments System
3. Interest Rates and Rates of Return
4. Determining Interest Rates
PART II. FINANCIAL MARKETS
5. The Risk Structure and Term Structure of Interest Rates
6. The Stock Market, Information, and Financial Market Efficiency
7. Derivatives and Derivative Markets
8. The Market for Foreign Exchange
PART III. FINANCIAL INSTITUTIONS
9. Transactions Costs, Asymmetric Information, and the Structure of the Financial System
10. The Economics of Banking
11. Investment Banks, Mutual Funds, Hedge Funds, and the Shadow Banking System
12. Financial Crises and Financial Regulation
PART IV. MONETARY POLICY
13. The Federal Reserve and Central Banking
14. The Federal Reserve’s Balance Sheet and the Money Supply Process
15. Monetary Policy
16. The International Financial System and Monetary Policy
PART V. THE FINANCIAL SYSTEM AND THE MACROECONOMY
17. Monetary Theory I: The Aggregate Demand and Aggregate Supply Model
18. Monetary Theory II: The IS—MP Model
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