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Money, Banking and Financial Markets Hardcover – 16 May 2011
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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, 3e 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.
- Print length704 pages
- LanguageEnglish
- PublisherMcGraw-Hill Professional
- Publication date16 May 2011
- Dimensions21.08 x 2.79 x 25.91 cm
- ISBN-10007337590X
- ISBN-13978-0073375908
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About the Author
Product details
- Publisher : McGraw-Hill Professional
- Publication date : 16 May 2011
- Edition : 3rd
- Language : English
- Print length : 704 pages
- ISBN-10 : 007337590X
- ISBN-13 : 978-0073375908
- Item weight : 1.42 kg
- Dimensions : 21.08 x 2.79 x 25.91 cm
- Customer Reviews:
About the authors
Steve Cecchetti is Professor of International Economics at the Brandeis International Business School. Having studied economics at MIT and Berkeley, he now teaches macroeconomics and finance to business school students. From 2008 to 2013 Professor Cecchetti was Economic Adviser and Head of the Monetary and Economic Department at the Bank for International Settlements in Basel, Switzerland where he participated in post-crisis global regulatory reform initiatives aimed at establishing new international standards.
Professor Cecchetti writes frequently on macroeconomics and finance. He is co-author with Professor Kermit Schoenholtz of a popular textbook on Money, Banking and Financial Markets (McGraw-Hill) and a related blog. In addition, over the past 30 years he has authored dozens articles in top scientific and policy journals focusing, has been a regular contributor to the Financial Times and is a founding contributor of VOX a policy portal.
In addition to teaching, research and writing, Professor Cecchetti is a Research Associate of the National Bureau of Economic Research; a Research Fellow of the Centre for Economic Policy Research; and a panelist of the U.S. Monetary Policy Forum, which regularly addresses the key challenges facing the Federal Reserve and other central banks. And, from 1997 to 1999, he served as Executive Vice President and Director of Research at the Federal Reserve Bank of New York.
For Professor Cecchetti’s commentary on economic and financial developments, see www.moneyandbanking.com.
Kim Schoenholtz is the Henry Kaufman Professor of the History of Financial Institutions and Markets in the Department of Economics at the NYU Stern School of Business. Having studied economics at Yale University, he now teaches courses on money and banking, financial crises, and macroeconomics to business school students and undergraduates, and also directs NYU Stern's Center for Global Economy and Business. Until 2005, he served as Citigroup's global chief economist. In his spare time, he is an amateur astronomer and shows the wonders of the night sky to the interested public at a New Jersey observatory.
Professor Schoenholtz writes frequently on finance and macroeconomics. As a market economist for more than 20 years, he advised institutional investors around the world about economic and financial developments. He is co-author, with Professor Stephen Cecchetti, of a popular textbook on Money, Banking and Financial Markets (McGraw-Hill) and a related blog. He has published articles in many venues, including Bloomberg, the Financial Times, Forbes, Huffington Post, International Herald Tribune, New York Post, Politico and the Wall Street Journal Europe.
In addition to teaching and writing, Professor Schoenholtz is a member of the Financial Research Advisory Committee of the U.S. Treasury's Office of Financial Research. He also is a panelist of the U.S. Monetary Policy Forum, which regularly addresses the key challenges facing the Federal Reserve and other central banks.
For Professor Schoenholtz's commentary on economic and financial developments, see www.moneyandbanking.com.
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- KramerReviewed in the United States on 12 February 2014
5.0 out of 5 stars Excellent!
Verified PurchaseWell written book - probably my best textbook so far. Excellent coverage of material, well organized, much better than average presentation of the material. Practical and relevant.