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Economics of Money, Banking, and Financial Markets, The, plus MyEconLab Student Access Kit, 9/E
Frederic S. Mishkin

ISBN-10: 0138002371
ISBN-13: 9780138002374

Publisher: Prentice Hall
Copyright: 2010
Format: Kit/Package/ShrinkWrap
Published: 07/08/2009
Status: Out of Print

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Description

The Economics of Money, Banking, and Financial Markets set the standard for money and banking courses when it published in its first edition, and it continues to be the worldwide market leader.

The historic economic events and financial crises of late 2008 have changed the entire landscape of money and banking. Having just served as Governor of the Federal Reserve, only Mishkin has the unique insider's perspective needed to present the current state of money and banking and explain the latest debates and issues for today’s students.

By applying a unified analytical framework to the models, Mishkin makes theory intuitive for students, and the rich array of current, real-world events keeps students motivated. Authoritative, comprehensive, and flexible, the text is easy to integrate into a wide variety of syllabi, and its ancillaries provide complete support when teaching the course.

For professors who teach with less emphasis on monetary theory and prefer to focus more time on financial institutions, the Business School Edition is the ideal alternative. Learn more here.

MyEconLab^® is available for the text, so students can work end-of-chapter problems online and their work is automatically graded and tracked in your online gradebook. To see how instructors can use MyEconLab in their courses, click here. For more information or to request access, visit MyEconLab.

Features

Mishkin’s unique viewpoint. Having just finished his term as Governor of the Federal Reserve, Mishkin brings a fresh perspective to today’s major policy questions. Insights into the monetary policy process, the regulation and supervision of the financial system, and internationalization of financial markets are integrated throughout.
Flexibility. A core set of chapters provides a basic framework for learning and analysis to fit a wide variety of syllabi, and a unifying, analytic framework uses a few basic economic principles to organize students' thinking. Careful, step-by-step model development makes the level appropriate for all students who take the course.
Chapter pedagogy keeps students focused and motivated.
- Applications are integrated within the main text, and provide students the opportunity to see theory at work.
- Inside the Fed boxes reflect Mishkin's experience at the Federal Reserve and give students insight into the operation and structure of the Federal Reserve System. Additional box features include Following the Financial News boxes, Global boxes, FYI boxes, and Wall Street Journal Applications.
- Review and study support are included in the form of chapter previews, summary tables, key statements, graphs, summaries, key terms, and a glossary.
- Practice opportunities appear in the end-of-chapter problems as well as online in MyEconLab^® with its auto-graded exercises with personalized feedback and targeted tutorial help.
Coverage of the latest data, questions, and theory are woven throughout, including:
- Late-breaking financial events and issues. Mishkin is committed to bringing in the latest data and events so that students understand the underlying economic implications.
- Coverage of China. China’s expanding role in the world economy is reflected through several discussions throughout the text. Topics include whether China is an argument against the importance of financial development (Chapter 8), problems in the Chinese banking industry (Chapter 12), and how China has become one of the largest holders of U.S. Treasury securities (Chapter 18).
- Material on monetary theory and policy. Drawing on his continued involvement with central banks, Mishkin integrates monetary theory and policy discussions, including:
  - A section on whether price stability should be the primary goal of monetary policy and whether hierarchical or dual mandates are better for central banks in Chapter 13.
  - An examination of the declining importance of reserve requirements in the money supply process in Chapter 14.
  - An application of the impact of negative demand shocks on the U.S. economy from 2001 to 2004 in Chapter 22.
MyEconLab–an online tutorial and assessment system that is available with Mishkin’s text–leads students to spend more time doing economics, and instructors to spend less time grading. View a demo of MyEconLab. For more information or to request access, visit MyEconLab. Features include:
- Complete integration between the book and MyEconLab. New to this edition, all end-of-chapter questions are available within MyEconLab so students can make the most of their study time.
- Learning through practice. For each chapter, students can self-study using the preloaded sample tests and tutorial resources, or they can complete instructor-assigned problems. MyEconLab automatically grades exercises–even graphing problems–so students get instant feedback and personalized Study Plans with links to additional learning tools.
- Graphing help for students. In MyEconLab, students have access to animated graphs and three types of online graphing exercises that offer unlimited, supported practice. Time spent with model-based, data, and draw graphs helps students become more comfortable in this essential skill, and MyEconLab grades every graph—even the ones they draw.
- Weekly news, provided by James W. Eaton of Bridgewater College, are uploaded to make it easy to keep your course current. New to this edition, assignable questions will be added periodically to MyEconLab’s assessment manager so that instructors can assign auto-graded problems based on the weekly news.
- Online instructor tools. Within MyEconLab, instructors can assign preloaded or customized multiple-choice, graphing, algorithmic, and free-response questions. Exercises are auto-graded, and MyEconLab records the results in an online gradebook to effortlessly track student progress.

New To This Edition

Coverage of the 2008 financial crises:

A full chapter on financial crises and the subprime debacle (Chapter 9) is added. The topics are then revisited in Chapter 12 with coverage of the economics of financial regulation to prevent crises, and in Chapter 16 through coverage of asset price bubbles.
New applications and boxes throughout the text reflect on the vast changes to money and banking brought on by the 2008 financial crises.

Enhanced, flexible coverage of international issues includes:

Segmented discussions of the exchange rate model that allow instructors to initially cover a “first look” at the model, then present the option to continue with in-depth coverage.
An increased emphasis on international issues, such as central banks outside the Fed and the European Central Bank.

Changes that reflect the conversion of traditional and investment banks: Chapter 11 from the previous edition, Economic Analysis of Banking Regulation, is significantly revised and renamed Economic Analysis of Financial Regulation to reflect the changes in traditional and investment bank status.

Streamlined coverage of the money supply: Chapters 13 and 14 from the previous edition are streamlined into a new Chapter 14 titled The Money Supply Process, allowing the simple deposit multiplier discussion to be combined with the money multiplier discussion in one chapter and one lecture.

New part openers foster discussions of timely issues and help students see how the individual topics of the course fit into the bigger picture. Personal insight from the author provides perspective for debate, and follow-up activities encourage students to apply lessons to the real world.

Expanded coverage of the Taylor Rule is added to Chapter 16.

Streamlined coverage of the stock market (Chapter 7), savings and loans (Chapter 12), the role of central banks (Chapter 13), and strategy (Chapter 16).

The latest data, including the fourth quarter data of 2008, are integrated throughout for the most up-to-date coverage.

New for MyEconLab^®:

All end-of-chapter problems are now available for assignment in MyEconLab.
Weekly News updates, now with assignable, auto-graded problems, are provided by James W. Eaton of Bridgewater College to make it easy to keep your course current. New to this edition, assignable questions will be added periodically to MyEconLab’s assessment manager so that instructors can assign auto-graded problems based on the weekly news.
Animations of figures from the text are now available as learning aids for practice problems so that students have on-demand help when working select problems.
Platform and browser independence: MyEconLab now runs on both Windows^® and Macintosh^® platforms and supports Internet Explorer^®, Firefox^®, and Safari^™ without any custom plug-ins.
To see a demo of how you can use MyEconLab in your course, click here. For more information or to request access, visit MyEconLab.

Table of 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
4. Understanding Interest Rates
5. The Behavior of Interest Rates
6. The Risk and Term Structure of Interest Rates
7. The Stock Market, the Theory of Rational Expectations, and the Efficient Market Hypothesis

Part III Financial Institutions
8. An Economic Analysis of Financial Structure
9. Financial Crises and the Subprime Debacle
10. Banking and the Management of Financial Institutions
11. Economic Analysis of Financial Regulation
12. Banking Industry: Structure and Competition

Part IV Central Banking and the Conduct of Monetary Policy
13. Structure of Central Banks and the Federal Reserve System
14. The Money Supply Process
15. Tools of Monetary Policy
16. What Should Central Banks Do? Monetary Policy Goals, Strategy, and Tactics

Part V International Finance and Monetary Policy
17. The Foreign Exchange Market
18. The International Financial System

Part VI Monetary Policy
19. The Demand for Money
20. The ISLM Model
21. Monetary and Fiscal Policy in the ISLM Model
22. Aggregate Demand and Supply Analysis
23. Transmission Mechanisms of Monetary Policy: The Evidence
24. Money and Inflation
25. Rational Expectations: Implications for Policy

Previous Edition(s)

Economics of Money, Banking and Financial Markets plus MyEconLab plus eBook 1-semester Student Access Kit, The, 8/E
Mishkin
©2007 | Prentice Hall | Cloth Package | Out of Print
ISBN-10: 0321415051 | ISBN-13: 9780321415059
Brief Description |
The Economics of Money, Banking, and Financial Markets heralded a dramatic shift in the teaching of the money and banking course in its first edition, and today it is still setting the standard. By applying an analytical framework to the patient, stepped-out development of models, Frederic Mishkin draws students into a deeper understanding of modern monetary theory, banking, and policy. His landmark combination of common sense applications with current, real-world events provides authoritative, comprehensive coverage in an informal tone students appreciate. Mishkin’s previous post as Executive Vice President and Director of Research at the Federal Reserve Bank of New York lends an insiders-view that helps to demystify this key institution for students.

This text comes packaged with an access kit for the new easy-to-use format of MyEconLab, which requires no set-up by the professor. With this, students can access practice problems for each chapter in the book, graphing questions, learning resources, and live tutoring. Professors who plan to use advanced course management online should order the book with MyEconLab in CourseCompass. View ‘Alternate Versions’ of this book on the web catalog page, or contact your Pearson representative for details.
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Reviews

“The Mishkin text matters. The ideas and principles throughout the book are important for students and policymakers. The text is well organized, and I have never read any better explanation of economic principles.”
—J. Robert Gillette, University of Kentucky

“Mishkin’s textbook is informative, well-written, and approachable by both economics majors and non-majors.”
—Gabriele Camera, Purdue University

“Mishkin is by far the best book in the field. It is complete and exhaustive.”
—Joao Ricardo Faria, University of Texas–Dallas

“Mishkin is by far the most complete and concise reference on the market for students taking financial economics and monetary policy courses.”
—J. Reynolds, Northern Illinois University

“The quality of the writing style and the updated coverage of topics make this a great book.”
—Phillip Lane, Fairfield University

“I have my students telling me at the end of the semester [that] they have enjoyed reading the book.”
—Alla A. Melkumian, Western Illinois University

“[Mishkin] is relevant, challenging, and interesting. It provides clear explanations of monetary theory and policy. It is up-to-date. The Federal Reserve material features an insider’s perspective.”
—Linda Hooks, Washington and Lee University

“The use of economic analysis gives students a deeper understanding and attracts their interest. The extensive presentation of charts appeals to visual learners and the associated PowerPoint slides give instructors useful visual aids for classroom lectures.”
—Fiona Mclachlan, Manhattan College

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, and from September 2006 to August 2008 was a member (governor) of the Board of Governors of the Federal Reserve System. He has also been a Senior Fellow at the FDIC Center for Banking Research, and past President of the Eastern Economic Association. Since receiving his PhD from the Massachusetts Institute of Technology in 1976, he has taught at the University of Chicago, Northwestern University, Princeton University, and University Columbia. He has also received an honorary professorship from the Peoples (Renmin) University of China. From 1994 to 1997 he was Executive Vice President and Director of Research at the Federal Reserve Bank of New York and an associate economist of the Federal Open Market Committee of the Federal Reserve System.

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Websites and Online Courses

Websites and Online Courses

Companion Website for The Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | Prentice Hall | Website | Live
ISBN-10: 0321599829 | ISBN-13: 9780321599827
More Info

MyEconLab -- Instant Access -- for The Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | Prentice Hall | Website | Live
ISBN-10: 0321607767 | ISBN-13: 9780321607768
Online purchase price: $50.00More Info

MyEconLab CourseCompass -- Instant Access -- for the Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | On-line Supplement | Live
ISBN-10: 0321628292 | ISBN-13: 9780321628299
Online purchase price: $50.00Take a Tour | More Info

MyEconLab CourseCompass with Pearson eText -- Instant Access -- for the Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | On-line Supplement; 756 pp | Access Code Required | Live
ISBN-10: 0321607775 | ISBN-13: 9780321607775
Online purchase price: $100.00 | Students, buy access Take a Tour | More Info

MyEconLab with Pearson eText -- Instant Access -- for The Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | Prentice Hall | Website; 756 pp | Live
ISBN-10: 0321607740 | ISBN-13: 9780321607744
Online purchase price: $100.00More Info

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Student Resources

Websites and online courses
Other student resources

eLearning & Assessment

Websites and Online Courses

Blackboard Test Bank for The Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | Prentice Hall | On-line Supplement | Live
ISBN-10: 0321599837 | ISBN-13: 9780321599834

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Instructor's Manual for The Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | Prentice Hall | Paper; 500 pp | Instock
ISBN-10: 0321599802 | ISBN-13: 9780321599803

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Online PowerPoint for The Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | Prentice Hall | On-line Supplement | Live
ISBN-10: 0321599853 | ISBN-13: 9780321599858

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Test Bank for The Economics of Money, Banking, and Financial Markets, Economics, 9/E
McArthur
©2010 | Prentice Hall | Paper; 700 pp | Instock
ISBN-10: 0321599810 | ISBN-13: 9780321599810

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WebCT Testbank Conversion for Economics of Money, Banking and Financial Markets, 9/E
Mishkin
©2010 | Prentice Hall | On-line Supplement | Live
ISBN-10: 0321628233 | ISBN-13: 9780321628237

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TestGen® Computerized Test Bank for The Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | Prentice Hall | On-line Supplement | Live
ISBN-10: 0321599845 | ISBN-13: 9780321599841

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Exam Copy for The Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | Prentice Hall | Cloth | Instock
ISBN-10: 032159987X | ISBN-13: 9780321599872
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Companion Website for The Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | Prentice Hall | Website | Live
ISBN-10: 0321599829 | ISBN-13: 9780321599827
More Info

Instructor's Resource CD-ROM with Testbank, PowerPoint, and Instructor's Manual for The Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | Prentice Hall | CD-ROM Only | Instock
ISBN-10: 0321607279 | ISBN-13: 9780321607270
More Info

Websites and online courses

Companion Website for The Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | Prentice Hall | Website | Live
ISBN-10: 0321599829 | ISBN-13: 9780321599827
More Info

Other student resources

Study Guide for The Economics of Money, Banking, and Financial Markets, 9/E
Hakes & Gamber
©2010 | Prentice Hall | Paper; 468 pp | Instock
ISBN-10: 0321600010 | ISBN-13: 9780321600011
Net price: $35.00 (What's this?)More Info

Websites and Online Courses

Companion Website for The Economics of Money, Banking, and Financial Markets, 9/E
Mishkin
©2010 | Prentice Hall | Website | Live
ISBN-10: 0321599829 | ISBN-13: 9780321599827
More Info

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Economics of Money, Banking and Financial Markets, The, 9/E
Mishkin
©2010 | Prentice Hall | Cloth; 756 pp | Instock
ISBN-10: 0321599799 | ISBN-13: 9780321599797
Net price: $155.00 (What's this?)Brief Description |
The Economics of Money, Banking, and Financial Markets set the standard for money and banking courses when it published in its first edition, and it continues to be the worldwide market leader.

The historic economic events and financial crises of late 2008 have changed the entire landscape of money and banking. Having just served as Governor of the Federal Reserve, only Mishkin has the unique insider's perspective needed to present the current state of money and banking and explain the latest debates and issues for today’s students.

By applying a unified analytical framework to the models, Mishkin makes theory intuitive for students, and the rich array of current, real-world events keeps students motivated. Authoritative, comprehensive, and flexible, the text is easy to integrate into a wide variety of syllabi, and its ancillaries provide complete support when teaching the course.

For professors who teach with less emphasis on monetary theory and prefer to focus more time on financial institutions, the Business School Edition is the ideal alternative. Learn more here.

MyEconLab^® is available for the text, so students can work end-of-chapter problems online and their work is automatically graded and tracked in your online gradebook. To see how instructors can use MyEconLab in their courses, click here. For more information or to request access, visit MyEconLab.
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Economics of Money, Banking, and Financial Markets, CourseSmart eTextbook, The, 9/E
Mishkin
©2010 | Prentice Hall | Electronic Book; 832 pp | Available
ISBN-10: 0321607791 | ISBN-13: 9780321607799
Online purchase price: $82.99Brief Description |
CourseSmart Textbooks Online is an exciting new choice for students looking to save money. As an alternative to purchasing the print textbook, students can subscribe to the same content online and save up to 50% off the suggested list price of the print text. With a CourseSmart eTextbook, students can search the text, make notes online, print out reading assignments that incorporate lecture notes, and bookmark important passages for later review. For more information or to subscribe to the CourseSmart eTextbook, visit CourseSmart.
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Economics of Money, Banking, and Financial Markets, The, Student Value Edition, 9/E
Mishkin
©2010 | Prentice Hall | Unbound (Saleable) | Instock
ISBN-10: 0321607759 | ISBN-13: 9780321607751
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Economics of Money, Banking, and Financial Markets, The, plus MyEconLab Student Access Kit, 9/E