Money, Banking and Financial Markets

by Stephen G. Cecchetti

Cecchetti's "Money, Banking, and Financial Markets, 3rd edition" offers a fresh, modern, and more student-friendly approach to the subject. Students will find the material more relevant and interesting because of the book's unique emphasis on the Five Core Principles, the early introduction of risk, and an integrated global perspective. Cecchetti is the money and banking book for today's students. By focusing on the big picture via core principles, Cecchetti teaches students the rationale for financial rules and institutional structure so that even when the financial system evolves, students' knowledge will not be out of date. The worldwide financial crisis of 2007-2009 was the most severe since that of the 1930s, and the recession that followed was the most widespread and costly since the Great Depression. Around the world, it cost tens of millions of workers their jobs. In the United States, millions of families lost their homes and their wealth. To stem the crisis, governments and central banks took aggressive and, in many ways, unprecedented actions. As a result, change will be sweeping through the world of banking and financial markets for years to come. Just as the crisis is transforming the financial system and government policy, it is transforming the study of money and banking. Against this background, students who memorize the operational details of today's financial system are investing in a short-lived asset. "Cecchetti & Schoenholtz Money, Banking, and Financial Markets, 3rd edition" focuses on the basic functions served by the financial system while deemphasizing its current structure and rules. Learning the economic rationale behind current financial tools, rules, and structures is much more valuable than concentrating on the tools, rules, and structures themselves. Students will gain the ability to understand and evaluate whatever financial innovations and developments they confront.

Genres: Economics, Finance, Textbooks, Business

704 pages, Paperback

First published February 1, 2005

Reviews

[Nikolas Albertson]

A decent read. A foundantional knowledge base in macroeconomics may help readers digest otherwise theoretical concepts that are not much applied today. The financial system is explained well, along with the money system. However, monetary policy could be updated with a more modern perspective.

[David]

after finished this textbook..one wonders...how the heck can Central Bank print money (QE)???? someone has to pay (inflation, debt, etc)

[Peter]

great concept that can applied to investment decisions. Just realized I made several investment mistake in the past

[Michael]

Easy to understand textbook on the basics of the financial world and how government monetary policy works.

[Tshidiso]

Looking forward to the read more so I am registered for the module dealing with money & financial mkts...