Modeling Monetary Economies (4th ed.)

by Bruce Champ, Scott Freeman, Joseph Haslag

Subject categories
ISBNs
  • 9781316508671
  • 9781316723302
  • 9781316719107
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.

  • Cambridge University Press; May 2016
  • ISBN: 9781316723302
  • Edition: 4
  • Read online, or download in secure PDF or secure ePub format
  • Title: Modeling Monetary Economies
  • Author: Bruce Champ; Scott Freeman; Joseph Haslag
  • Imprint: Cambridge University Press
Subject categories
ISBNs
  • 9781316508671
  • 9781316723302
  • 9781316719107

In The Press

'In this book, Professor Haslag, a first-rate economist with a theoretical bent, takes the reader into the landscape of modern monetary economics to help us make sense of the deep questions: what does money do? Why do we have money? Why is banking important? Why is inflation bad? And many others. The book uses the overlapping generations model as its workhorse to study a vast range of issues such as money supply, inflation, financial intermediation and banking, and payments systems. The writing, as always, is lucid, precise, and engaging. I can think of no other undergraduate textbook in macro- or monetary economics that infects the reader with as much passion for the craft of economics as this one.' Joydeep Bhattacharya, Iowa State University

Subject categories
ISBNs
  • 9781316508671
  • 9781316723302
  • 9781316719107