'Monetary Economics' is an ideal course text for 3rd year modules in Monetary Economics. The book successfully achieves a balance between theory and practice and enables the student to understand the theoretical basis of monetary economics.The book is also distinctive in its concentrated focus on the practice of monetary policy. The authors view money supply as endogenous and central banks as preoccupied with interest rates rather than monetary aggregates, which gives the book a refreshingly practical and 'real world' character.