本书对传统的货币与银行教学方法进行了调整：在全书早期即引入了风险的概念，并用整章内容讨论了这一概念；书中整合了并强调了各种金融工具的使用；在讨论货币经济学时，书中略过了IS-LM框架，重点讨论了长期货币增长与通货膨胀、短期货币政策和商业周期等主题，从而以更加现代、更加相关的方式讨论了货币经济学的有关内容；并且一体化的全球视角贯穿全书。适用于金融学专业本科生、MBA以及一切愿意了解货币、银行与金融体系的人士。本书为全英文版。

本书研究了金融体系的基本作用，包括货币与金融体系，利率、金融工具和金融市场，金融机构，中央银行、货币政策和金融稳定性及现代货币经济学等内容。全书从五个核心原则出发，着重分析了金融体系的现行结构和规则，以帮助学生理解金融体系及其对人们的经济影响，并赋予学生能够理解并评估他们在将来可能会面临的金融创新的终身能力。

Part I Money and the Financial System 1

          chapter 1  An Introduction to Money and the Financial System 2

          chapter 2  Money and the Payments System 13

          chapter 3  Financial Instruments, Financial Markets, and Financial Institutions 35

Part Ⅱ Interest Rates, Financial Instruments, and Financial Markets 61

          chapter 4  Future Value, Present Value, and Interest Rates 62

          chapter 5  Understanding Risk 90

          chapter 6  Bonds, Bond Prices, and the Determination of Interest Rates 119

          chapter 7  The Risk and Term Structure of Interest Rates 149

          chapter 8  Stocks, Stock Markets, and Market Efficiency 177

          chapter 9  Derivatives: Futures, Options, and Swaps 202

          chapter 10  Foreign Exchange 228

Part Ⅲ Financial Institutions 258

          chapter 11  The Economics of Financial Intermediation 259

          chapter 12  Depository Institutions: Banks and Bank Management 286

          chapter 13  Financial Industry Structure 317

          chapter 14 Regulating the Financial System 349

Part V Central Banks, Monetary Policy, and Financial Stability 375

          chapter 15  Central Banks in the World Today 376

          chapter 16  The Structure of Central Banks: The Federal Reserve and the European Central Bank 401

          chapter 17  The Central Bank Balance Sheet and the Money Supply Process 426

          chapter 18  Monetary Policy: Using Interest Rates to Stabilize the Domestic Economy 460

          chapter 19  Exchange-Rate Policy and the Central Bank 489

Part V Modern Monetary Economics 518

          chapter 20  Money Growth, Money Demand, and Modem Monetary Policy 519

          chapter 21  Modem Monetary Policy and Aggregate Demand 550

          chapter 22  Understanding Business Cycles 584

          chapter 23  Monetary Policy, Output, and Inflation in the Short Run 618