Financial Markets, Banking and Monetary Policy
Edition: 2
Copyright: 2020
Edition: 2
Copyright: 2020
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Financial markets, banks, and monetary policy all touch our lives in numerous ways.
Financial Markets, Banking and Monetary Policy illustrates the various ways in which the financial system contributes to our well‐being—that is, how it creates economic value. Readers are presented with the different types of financial markets, financial institutions, and the respective roles that they play. Also, the publication discusses the major financial institutions—commercial banks and other depository institutions, mutual funds, hedge funds and other alternative investments, and pension funds and life insurance companies.
Now available in a NEW Second Edition, Financial Markets, Banking and Monetary Policy by Thomas D. Simpson:
- Is practical! It presents a model calibrating the (present) value of cash flows, examines how credit risk, liquidity, and taxation can effect interest rates.
- Is applicable! The publication discusses the money market, bond market, mortgage market, and equity/stock market. In addition, it connects the role of the economy and monetary policy in equity price movements and decisions by corporate managers to buy back shares.
- Is insightful! The author includes comprehensive coverage on the causes and consequences of financial crises, and the kinds of policy measures that central banks have been developing to prevent them.
- Is easy to adopt! Adopting instructors receive assignments, test banks, slide decks, answers to end of chapter activities, and more!
CHAPTER 1 Introduction
CHAPTER 2 Overview of the Financial System
CHAPTER 3 The Special Role of Commercial Banks
CHAPTER 4 The Pricing of Financial Assets
CHAPTER 5 Factors Affecting Yields
CHAPTER 6 Principles of Portfolio Selection and Efficient Markets
CHAPTER 7 The Money Market
CHAPTER 8 The Bond Market
CHAPTER 9 Securitization
CHAPTER 10 The Mortgage Market
CHAPTER 11 The Equity Market
CHAPTER 12 Central Banking and the Federal Reserve
CHAPTER 13 Monetary Policy: The Basics
CHAPTER 14 Monetary Policy: Challenges Faced by Policymakers
CHAPTER 15 Financial Crises
CHAPTER 16 The Foreign Exchange Market and Exchange Rate Regimes
CHAPTER 17 Depository Institutions
CHAPTER 18 Mutual Funds
CHAPTER 19 Hedge, Venture Capital, and Private Equity Funds
CHAPTER 20 Large Institutional Investors
Index
Tom Simpson spent most of his career at the Board of Governors of the Federal Reserve System in Washington, D.C. At the Board, he was a senior officer, with responsibilities in the area of monetary policy, economic forecasting, and financial markets, and served as an officer of the Federal Open Market Committee. In addition, he represented the Board in various outside organizations, including the Committee on Financial Markets of the Organization for Economic Cooperation and Development (OECD) in Paris.
Dr. Simpson also has provided technical assistance to various central banks around the world, including the Central Bank of Russia and the People’s Bank of China. Beginning in 2003, he played a key role in building a new monetary and financial system—including a new currency—in Iraq and advised the Central Bank of Iraq on monetary policy. In recent years, he also has provided assistance to the central banks of Afghanistan, Angola, Honduras, Lesotho, Liberia, South Sudan, and Uganda. In 2015 and 2016, Dr. Simpson served as an economic adviser to presidential candidate, Ben Carson.
In 2006, Dr. Simpson joined the faculty of the Department of Economics and Finance at the University of North Carolina Wilmington (UNCW). At UNCW, he taught upper-level courses on financial markets and institutions, monetary policy, macroeconomics, and public finance for 16 years. He currently teaches at Schreiner University in Kerrville, TX, as director of the banking program.
Dr. Simpson earned a B.A. from the University of Minnesota and a Ph. D. in economics from the University of Chicago. He has published numerous professional articles on monetary and financial issues and recently a book entitled Capitalism versus Socialism: What Does the Bible Have to Say? (Kindle, 2020). He makes regular presentations on the economic outlook.