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ISBN-10: 0070983992 ISBN-13: 978-0070983991
Cecchetti Money, Banking & Financial Markets, Canadian Edition, is unique in its focus on five core principles, its early introduction of risk, and integrated global perspective. 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rules and institutional structure so that even when the financial system evolves, students’ knowledge will not be out of date. Cecchetti boasts an impressive author team including U.S. author Stephen Cecchetti (U.S. professor, with previous career as VP Federal Bank of New York and consultant for several global banks), and Canadian author Angela Redish (UBC professor, with strong research credentials in monetary policy and monetary history).
What others say about this product?
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.