Features

• ENGINEERED FOR SUCCESS! A unifying, analytic framework uses a few basic economic principles to organize students' thinking.
• FLEXIBILITY, a core set of chapters provides a basic framework for learning and analysis.
• NEW INSIGHTS on the monetary policy process, the regulation and supervision of the financial system, and internationalization of financial markets.
• “INSIDE THE FED” boxes reflect Mishkin's experience at the Federal Reserve and give students a feel for what is important in the operation and structure of the Federal Reserve System.
• WINNING PEDAGOGY: Includes Following the Financial News boxes, Global boxes, FYI boxes, e-Finance boxes, Inside the Fed boxes, Conflicts of Interest boxes, Applications, Solutions to Problems, Chapter Previews, Summary Tables, Key Statements, Graphs, Summaries, Key Terms, Reading the Wall Street Journal Applications, End-of-Chapter Problems, and a Glossary.
• MyEconLab: An enhanced version of MyEconLab, the online homework and tutorial resource, is tightly integrated with this Eighth Edition. Groundbreaking graphing technology grades the graphs students draw and individualized Study Plans help students focus their study time while linking them to additional learning resources. Students who purchase a new copy of The Economics of Money, Banking, and Financial Markets, Eighth Edition get prepaid access to MyEconLab. Students can also purchase access at a reasonable cost online. For more information, visit www.myeconlab.com/mishkin.

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. Banking and the Management of Financial Institutions

10. Banking Industry: Structure and Competition

11. Economic Analysis of Banking Regulation

Part IV Central Banking and the Conduct of Monetary Policy

12. Structure of Central Banks and the Federal Reserve System

13. Multiple Deposit Creation and the Money Supply Process

14. Determinants of the Money Supply

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