Money, Banking and Financial Markets by Laurence Ball - Second Edition, 2012 from Macmillan Student Store

Money, Banking and Financial Markets

Second Edition ©2012 Laurence Ball

Working from a macro framework based on the Fed's use of interest rate as its major policy instrument, Ball presents the core concepts necessary to understand the problems affecting the stock market, and the causes of recessions and banking crises.  Underlying this framework are the intellectua...
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ISBN:9781464100178

ISBN:9781429244091

ISBN:9781429264242

Money, Banking and Financial Markets by Laurence Ball - Second Edition, 2012 from Macmillan Student Store

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Working from a macro framework based on the Fed's use of interest rate as its major policy instrument, Ball presents the core concepts necessary to understand the problems affecting the stock market, and the causes of recessions and banking crises.  Underlying this framework are the intellectual foundations for the Fed's inflation targeting using the dynamic consistency problem facing policymakers.     

Features

A focus on core concepts and theories without distractions. Money, Banking, and Financial Markets focuses on core insights and strips away unneccessary institutional details.  The result is a less encyclopedic, more streamlined -- approximately 100 pages shorter than typical money and banking textbooks.
 
More than 90 case studies presenting money, banking, and financial markets from a variety of viewpoints.  The text consistently ties economic theory to practical issues, examining these from the perspectives of:
• The viewpoint of financial firms:
 In discussing how banks raise funds, the text offers a case on Commerce Bank, which has been unusually successful in attracting deposits.  A case on Citigroup illustrates the consolidation of financial institutions.  The discussion of exchange rates includes a case on the strategies of currency traders.
• The viewpoint of aggregate economies:
Case studies discuss Germany's hyperinflation in the 1920s and Japan's deflation in the 1990s and 2000s.  Cases cover financial crises from the Great Depression to the breakdown of Argentina's currency board to the subprime mortgage fiasco.  Some cases address current controversies around the world, such as China's exchange-rate policy. 
• The viewpoint of economic policymakers:
Cases discuss issues facing financial regulators, ranging from insider trading to the separation of banking and commerce. For example, should Wal Mart be able to open a bank?  Does inflation targeting improve economic performance? Should central banks try to dampen asset price bubbles?
• The viewpoint of individuals confronting the financial system:
Finally, some cases address questions that are likely to arise in students’ lives. How should people allocate their wealth, and how should this allocation change with age? Should you finance a home with a fixed or adjustable-rate mortgage? And most pressing to many students, how is the goverenment's student loan program changing?
 
Additional online cases reflecting recent economic developments.  Online cases update the text's case studies with recent data, news, and developments in money, banking, and financial markets. To keep the material fresh, the text is supplemented by 18 Online Case Studies, one per chapter, that will be updated regularly. 
 

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Table of Contents

PART I FOUNDATIONS
1 The Financial System
2 Money and Central Banks

PART II FINANCIAL MARKETS
3 Asset Prices and Interest Rates
4 What Determines Interest Rates?
5 Securities Markets
6 Foreign Exchange Markets

PART III BANKING
7 Asymmetric Information in the Financial System
8 The Banking Industry
9 The Business of Banking
10 Bank Regulation

PART IV MONEY AND THE ECONOMY
11 The Money Supply and Interest Rates
12 Short-Run Economic Fluctuations
13 Economic Fluctuations, Monetary Policy, and the Financial System
14 Inflation and Deflation
 
PART V  MONETARY POLICY
15 Policies for Economic Stability
16  Monetary Institutions and Strategies
17 Monetary Policy and Exchange Rates
18  Financial Crises

Laurence Ball

Laurence Ball is Professor of Economics at Johns Hopkins University. He is a research associate for the National Bureau of Economic Research and has been a visiting scholar at the Central Bank of Norway and the Reserve Bank of Australia. His academic honors include the Houblon-Norman Fellowship (Bank of England), a Professional Fellowship in Monetary Economics (Victoria University of Wellington and Reserve Bank of New Zealand), the NBER Olin Fellowship, and the Alfred P. Sloan Research Fellowship.

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