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Modeling monetary economies

Author: Bruce Champ; Scott Freeman; Joseph H Haslag
Publisher: New York, NY : Cambridge University Press, 2016.
Edition/Format:   Print book : English : Fourth editionView all editions and formats
Summary:
"Too often monetary economics has been taught as a collection of facts about institutions for students to memorize. By teaching from first principles instead, this advanced undergraduate textbook builds on a simple, clear monetary model and applies this framework consistently to a wide variety of monetary questions. Starting with the case in which trade is mutually beneficial, the book demonstrates that money makes  Read more...
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Document Type: Book
All Authors / Contributors: Bruce Champ; Scott Freeman; Joseph H Haslag
ISBN: 9781107145221 1107145228 9781316508671 1316508676
OCLC Number: 937061956
Notes: Revised edition of the authors' Modeling monetary economies, 2011.
Description: xviii, 388 pages ; 26 cm
Contents: Part I. Money. Trade without money: the role of record keeping --
A simple model of money --
Barter and commodity money --
Inflation --
International monetary systems --
Price surprises --
Part II. Banking. Capital --
Liquidity and financial intermediation --
Central banking and the money supply --
Money stock fluctuations --
Fully backed central bank money --
The payments system --
Bank risk --
Liquidity risk and bank panics --
Part III. Government Debt. Deficits and the national debt --
Savings and investment --
The effect of the national debt on capital and savings --
The temptation of inflation.
Responsibility: Bruce Champ, Scott Freeman, Joseph Haslag, University of Missouri-Columbia.

Abstract:

This new edition builds on first principles starting from a simple, clear monetary model to explain complex modern economies.  Read more...

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'This is my favorite textbook for my undergraduate course in monetary economics. It requires only a small investment in order to familiarize the students with the overlapping generations model. Read more...

 
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