Modeling Monetary Economies - Champ, Bruce;Haslag, Joseph;Freeman, Scott
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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 people better off, and that government money competes against other means of payments, including other types of government money. After developing each of these topics, the book…mehr

Produktbeschreibung
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 people better off, and that government money competes against other means of payments, including other types of government money. After developing each of these topics, the book tackles the issue of money competing against other stores of value, examining issues associated with trade, finance, and modern banking. The book then moves from simple economies to modern economies, addressing the role banks play in making more trades possible, concluding with the information problems plaguing modern banking, which result in financial crises.
Autorenporträt
Champ, Bruce
Bruce Champ was a Senior Research Economist at the Federal Reserve Bank of Cleveland, and passed away in 2013. Earlier he taught at Virginia Polytechnic Institute, the Universities of Iowa and Western Ontario, and Fordham University, New York. Dr Champ's research interests focused on monetary economics and his articles have appeared in the American Economic Review, the Journal of Monetary Economics, the Canadian Journal of Economics, and the Journal of Money, Credit, and Banking, among other leading academic publications. He coauthored the first and second editions of Modeling Monetary Economies with the late Scott Freeman.
Rezensionen
'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. Thereafter, the book covers a broad set of topics by building simple extensions of the basic model. My students love it and I can also highly recommend it to any reader interested in money, banking, and monetary policy.' Aleksander Berentsen, Universität Basel, Switzerland