by Stephen G. Cecchetti
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| Lowest New Price: | $16.00 |
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Product Description
Stephen Cecchetti’s new text on Money and Banking offers a fresh, more modern, and more student-friendly approach to the subject. The author has drawn on his vast experience as Vice President at the Federal Reserve Bank of New York, publishing in and editing various journals, and consulting for the European Central Bank, the Bank of England, the Bank of Israel, and the Reserve Bank of Australia as well as his years of teaching at various schools including Ohio State, Brandeis, Princeton, and Oxford University. 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rules and institutional structure so that even when the financial system evolves, students’ knowledge will not be out of date.
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Average Customer Review:
0 of 3 people found the following review helpful:
 Weird..., 2008-09-19
This book came in on time but, the book itslef is out of the ordinary.
The begining of the book start on the back cover upside down....never seen anything like this before.
0 of 8 people found the following review helpful:
 Review on purchase of Money,Banking, and Financial Markets, 2008-05-31
The book is in excellent condition, but try to find out the reason for the delay by the post office, and try to avoid it. It does not make sense to receive the book a month after I make the order, especially I have upgraded the posting service.
2 of 2 people found the following review helpful:
 Great for business majors, 2008-02-07
I teach undergrad business and economics, and have found this text to be very effective with my students, particularly as a follow-up to macro 101. One of the best things about the text is that it is well integrated; other texts seem somewhat choppy or fragmented.
9 of 10 people found the following review helpful:
Macroeconomics As Seen From The Fed , 2006-05-27
This is an excellent undergraduate text on financial institutions and monetary economics. The exposition is rigorous yet avoids abstruse math. The best part is the section on monetary economics, where the author dispenses with IS/LM analysis and instead directly analyzes aggregate supply and demand. He writes from the perspective of a central banker (which he was), showing how central banks use interest rates to influence inflation and output. The writing is quite clear, and the numerous sidebars on historical and contemporary issues are excellent. Although some subjects (such as exchange rates) could have been developed in greater depth, this is a great textbook overall.
Ideological footnote: Many undergraduate econ books assume (more or less explicitly) that disturbances in the macroeconomy are eventually self-correcting. This book has a somewhat different starting place: it takes it for granted that regulators will oversee the banking system and that central bankers will act to close output gaps and keep inflation under control (in fact, the latter assumption is built into the author's construction of the aggregate demand curve). According to the author, modern central banks have developed a fairly good understanding of business cycles and know how to moderate them through the use of monetary instruments. Let's hope he's right.
11 of 12 people found the following review helpful:
Well written and with clarity, 2005-08-08
I've read the books of Mishkin and Hubbard, also well written pieces.
However, Cecchetti seems to be able to explain concepts with more clarity and in a way that makes one remember the various theories long after reading the book.
He should try to develop further the chapter on futures and give more emphasis on hedging, since this is the trend financial markets are moving towards these days, without having to impinge on books devoted solely to the topic.
He may also want to expound more on the chapter covering foreign exchange and international markets, to make the book more relevant to international readers.
on the chapter on monetary policy, since he touched on foreign central banks he may also wish to write about how other countries implement monetary policy, esp how the Bank of England uses the repo market to conduct money easing/contraction.
Am looking forward to a much-improved version in the future.
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