M&B 3 3rd Edition by Dean Croushore – Ebook PDF Instant Download/Delivery: 8214347868, 9798214347868
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ISBN 10: 8214347868
ISBN 13: 9798214347868
Author: Dean Croushore
Created by the continuous feedback of a “student-tested, faculty-approved” process, M&B delivers a visually appealing, succinct print component, tear-out review cards for students and instructors. M&B, 3E’s brief, focused approach reads more like a business periodical than a text. The thoroughly updated coverage addresses the modern framework of today’s financial system in which both financial markets and banks play important roles. Numerous real business applications and an inviting writing style, infused with the latest financial examples, relate current money and banking topics to your everyday life and career. You’ll find the most recent financial figures, memorable full-color photos, and access to Cengage’s Global Economic Watch.
M&B 3 3rd Table of contents:
Chapter 1. Introduction to Money and Banking
1-1. What is in this Text?
1-1a. The Value of Money and Banking for Everyday Life
1-1b. Why is Government Policy so Crucial for Money and Banking?
1-2. Ten (Surprising) Facts Concerning Money and Banking
1-2a. Most Financial Formulas—No Matter How Complicated they Look—Are Based on the Compounding of Interest
1-2b. More U.S. Currency is Held in Foreign Countries than in the United States
1-2c. Interest Rates on Long-Term Loans Generally Are Higher than Interest Rates on Short-Term Loans
1-2d. To Understand how Interest Rates Affect Economic Decisions, you Must Account for Expected Inflation
1-2e. Buying Stocks is the Best Way to Increase your Wealth—and the Worst
1-2f. Banks and Other Financial Institutions Made Major Errors that Led to the Financial Crisis of 2008
1-2g. Recessions are Difficult to Predict
1-2h. The Federal Reserve Creates Money by Changing a Number in its Computer System
1-2i. In the Long Run, the Only Economic Variable the Federal Reserve can Affect is the Rate of Inflation—The Fed has No Effect on Economic Activity
1-2j. You Can Predict how the Federal Reserve Will Change Interest Rates Using a Simple Equation
Chapter Summary
Part 1. Money and the Financial System
Chapter 2. The Financial System and the Economy
2-1. Financial Securities
2-1a. Debt and Equity
2-1b. Differences Between Debt and Equity
2-2. Matching Borrowers with Lenders
2-2a. Direct Versus Indirect Finance
2-2b. Financial Intermediaries
2-2c. Functions of Financial Intermediaries
2-3. Financial Markets
2-3a. The Structure of Financial Markets
2-3b. How Financial Markets Determine Prices of Securities
2-4. The Financial System
2-4a. The Financial System and Economic Growth
2-4b. What Happens When the Financial System Works Poorly?
2-4c. Five Determinants of Investors’ Decisions
2-4d. Choosing a Financial Investment Portfolio
Chapter Summary
Key Equations
Key Terms
Review Questions and Problems
Chapter 3. Money and Payments
3-1. How We Use Money
3-1a. Medium of Exchange
3-1b. Unit of Account
3-1c. Store of Value
3-1d. Standard of Deferred Payment
3-2. The Payments System
3-2a. Outside Money
3-2b. Inside Money
3-3. Counting Money
3-3a. Measuring the Money Supply
3-3b. The Federal Reserve’s Monetary Aggregates
3-3c. The Case of the Missing Currency
Chapter Summary
Key Terms
Review Questions and Problems
Chapter 4. Present Value
4-1. The Present Value of One Future Payment
4-1a. Investing, Borrowing, and Compounding
4-1b. Discounting
4-2. The General Form of the Present-Value Formula
4-2a. Timelines to Describe Payment Amounts
4-2b. The Present Value of a Perpetuity
4-2c. The Present Value of a Fixed-Payment Security
4-2d. The Present Value of a Coupon Bond
4-2e. The Present Value When Payments Occur More Often than Once Each Year
4-3. Using Present Value to Make Decisions
4-3a. Comparing Alternative Offers
4-3b. Buying or Leasing a Car
4-3c. Interest-Rate Risk
4-4. Using the Present-Value Formula to Calculate Payments
4-5. Looking Forward or Looking Backward at Returns
4-5a. One Payment in One Year
4-5b. One Payment More than One Year in the Future
4-5c. Perpetuity
4-5d. Fixed-Payment Security
4-5e. Coupon Bond
4-5f. Payments Made More Frequently than Once Each Year
Review Questions and Problems
Chapter Summary
Key Equations
Key Terms
Appendix 4.A.
Appendix 4.B.
Chapter 5. The Structure of Interest Rates
5-1. What Explains Differences in Interest Rates?
5-1a. The Many Different Types of Debt Securities
5-1b. Demand and Supply in the Secondary Market Affect Interest Rates
5-1c. Supply in the Primary Market Affects Interest Rates
5-2. The Term Structure of Interest Rates
5-2a. Data on the Term Structure of Interest Rates
5-2b. How Investors Choose Between Short- and Long-Term Securities
5-2c. What Determines the Term Structure of Interest Rates in Equilibrium?
5-3. The Term Premium
5-3a. The Increased Interest-Rate Risk of Long-Term Debt Securities
5-3b. How Do We Incorporate a Term Premium in Our Analysis?
5-4. The Yield Curve and the Business Cycle
Chapter Summary
Key Terms
Review Questions and Problems
Chapter 6. Real Interest Rates
6-1. What Are Real Interest Rates?
6-1a. The Impact of Unexpected Inflation on Real Interest Rates
6-1b. Why Inflation Risk Is a Problem for Investors
6-1c. How Inflation-Indexed Securities Work
6-2. Real Present Value
6-3. What Affects Real Interest Rates?
6-3a. Measuring Real Interest Rates
6-3b. How Do Expected Real Interest Rates React to Changes in the Expected Inflation Rate?
6-3c. What Happens to Expected Real Interest Rates in a Recession?
Chapter Summary
Key Equations
Key Terms
Review Questions and Problems
Appendix 6.A.
Chapter 7. Stocks and Other Assets
7-1. The Stock Market
7-1a. Issuing and Investing in Stock
7-1b. An Investor’s View of Stock Returns and Prices
7-1c. Historical Returns and Stock Prices
7-2. How Can an Investor Profit in the Stock Market?
7-2a. The Efficient Markets Hypothesis and Stock-Price Movements
7-2b. Are Stock Prices Unpredictable?
7-2c. Are Stock Returns Predictable Only because of Risk?
7-2d. A Random Walk with a Crutch
7-2e. What Determines Average Stock Prices and Returns?
7-2f. Comparing Stocks with Debt Securities: The Equity Premium
7-2g. Other Assets as Investments
7-2h. How Investors Can Diversify their Portfolios
Chapter Summary
Key Equations
Key Terms
Review Questions and Problems
Part 2. Fundamentals of Banking
Chapter 8. How Banks Work
8-1. The Role of Banks
8-1a. Asymmetric-Information Problems
8-1b. Failures of the Banking System
8-2. How do Banks Earn Profits?
8-2a. A Bank’s Balance Sheet
8-2b. Reserve Accounting
8-2c. Bank Profits
8-2d. The Risks Banks Take
Chapter Summary
Key Equations
Key Terms
Review Questions and Problems
Chapter 9. Government’s Role in Banking
9-1. Regulation of Banks
9-1a. Why Does the Government Regulate Banks?
9-1b. How Does Government Regulation Achieve Its Goals?
9-1c. Do Banks Receive a Net Subsidy from the Government?
9-2. Supervision of Banks
9-2a. Bank Supervisors
9-2b. Deposit Insurance
9-2c. Rating Banks
9-2d. Evaluating Bank Mergers
9-2e. The Merger of Wachovia and Wells Fargo
9-2f. The Impact of Mergers on Bank Profits
Chapter Summary
Key Equations
Key Terms
Review Questions and Problems
Part 3. Macroeconomics
Chapter 10. Economic Growth and Business Cycles
10-1. Measuring Economic Growth
10-1a. A View of Economic Growth Based on Labor Data
10-1b. A View of Economic Growth Using Data on Both Labor and Capital
10-2. Business Cycles
10-2a. What Is a Business Cycle?
10-2b. The Causes of Business Cycles
Chapter Summary
Key Equations
Key Terms
Review Questions and Problems
Chapter 11. Modeling Money
11-1. The ATM Model of the Demand for Cash
11-2. The Liquidity-Preference Model
11-3. The Dynamic Model of Money
11-3a. The Effects of an Increase in Money Supply
11-3b. The Effects of an Increase in the Growth Rate of the Money Supply
Review Questions and Problems
Chapter Summary
Key Equations
Key Terms
Chapter 12. The Aggregate-Demand/Aggregate-Supply Model
12-1. A Model of Aggregate Demand and Aggregate Supply
12-1a. Aggregate Demand
12-1b. Aggregate Supply
12-1c. Putting Aggregate Demand and Aggregate Supply Together
12-1d. From the Short Run to the Long Run
12-1e. How Shifts in Exogenous Variables Affect Aggregate Demand and Aggregate Supply
12-1f. An Example: A Drop in Business Optimism
12-1g. Adjustment from the Short Run to the Long Run
12-2. Analyzing Policy Using the AD–AS Model
12-2a. Monetary Policy
12-2b. Effects of Fiscal Policy
12-3. Large Structural Macroeconomic Models
12-4. Keynesians versus Classicals
Review Questions and Problems
Chapter Summary
Key Terms
Chapter 13. Modern Macroeconomic Models
13-1. Dynamic Models
13-1a. A Two-Period Model of Consumption and Saving
13-1b. General Equilibrium
13-1c. Expectations
13-1d. The Impact of Changes in Government Policy
13-2. Dynamic, Stochastic, General-Equilibrium Models
13-2a. Real Business-Cycle Models
13-2b. Modern DSGE Models
13-3. Statistical Models of the Economy
Chapter Summary
Key Terms
Review Questions and Problems
Chapter 14. Economic Interdependence
14-1. The International Business Cycle
14-1a. Why is There an International Business Cycle?
14-1b. How Correlated are the Business Cycles in Different Economies?
14-1c. International Transmission of Shocks
14-2. Exchange Rates
14-2a. Exchange Rates Matter for the Prices of Goods
14-2b. How Supply and Demand Determine Exchange Rates
14-2c. How International Trade Affects the Exchange Rate
14-2d. How Financial Investment Affects the Exchange Rate
14-2e. How Has the Dollar’s Value Changed over Time?
14-2f. How Exchange Rates Affect the Economy
Chapter Summary
Key Equations
Key terms
Review Questions and Problems
Part 4. Monetary Policy
Chapter 15. The Federal Reserve System
15-1. Federal Reserve Banks
15-1a. The Structure of a Federal Reserve Bank
15-1b. Central Bank Functions Performed by Federal Reserve Banks
15-2. The Board of Governors
15-3. The Federal Open Market Committee
15-3a. Open-Market Operations
15-3b. The FOMC Directive
15-3c. The FOMC Meeting
Chapter Summary
Key terms
Review Questions and Problems
Chapter 16. Monetary Control
16-1. Money Creation and Destruction by the Fed and by Banks
16-1a. How Banks Create or Destroy Money
16-1b. The Money Multiplier
16-2. Realistic Money Multipliers
16-2a. The Monetary Base
16-2b. Measures of the Money Supply
16-2c. Bank Reserves
16-2d. People’s Holdings of Monetary Assets
16-2e. Deriving the Multipliers
16-2f. How People and Banks Affect the Money Supply
16-3. The Fed’s Tools for Changing the Money Supply
16-3a. Open-Market Operations
16-3b. Discount Lending
16-3c. The Interest Rate on Bank Reserves
16-3d. Reserve Requirements
16-4. The Market for Bank Reserves
16-5. Monetary Policy in a Liquidity Trap
Appendix 16.A. Finding an Infinite Sum
Review Questions and Problems
Chapter Summary
Key Equations
Key Terms
Chapter 17. Monetary Policy: Goals and Tradeoffs
17-1. Stabilization Policy
17-1a. Policy Lags
17-2. Goals of Monetary Policy
17-2a. Output
17-2b. Unemployment
17-2c. Inflation
17-3. The Fed’s Objective Function
17-3a. Output Gap
17-3b. Unemployment Gap
17-3c. Inflation Gap
17-3d. An Equation for the Fed’s Objective Function
Review Questions and Problems
Chapter Summary
Key Equations
Key Terms
Chapter 18. Rules for Monetary Policy
18-1. Rules versus Discretion
18-1a. Expectations Trap
18-1b. Time Inconsistency
18-1c. How to Defeat Time Inconsistency
18-1d. Credibility
18-1e. Commitment
18-2. Money-Growth Rules
18-2a. The Equation of Exchange
18-2b. A Policy of Setting Constant Money Growth
18-2c. Instability of the Money-Growth Rule
18-2d. Activist versus Nonactivist Rules
18-3. The Taylor Rule
18-3a. The Taylor Rule in Practice
18-3b. Issues in Using the Taylor Rule
18-4. Inflation Targeting
Review Questions and Problems
Chapter Summary
Key Equations
Key Terms
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