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This upper-level undergraduate textbook, now in its second editon, approaches monetary economics using the classical paradigm of rational agents in a market setting. Too often monetary economics has been taught as a collection of facts about existing institutions for students to memorize. By teaching from first principles, the authors aim to instruct students not only in existing monetary policies and institutions but also in what policies and institutions may or should exist in the future. The text builds on a simple, clear monetary model and applies this framework consistently to a wide variety of monetary questions. The authors have added in this second edition new material on speculative attacks on currencies, social security, currency boards, central banking alternatives, the payments system, and the Lucas model of price surprises. Discussions of many topics have been extended, presentations of data greatly expanded, and new exercises added.

Money. Monetary policy --- Operational research. Game theory --- Quantitative methods (economics) --- AA / International- internationaal --- 333.401 --- 333.400 --- 333.403 --- Money --- -332.401 --- Currency --- Monetary question --- Money, Primitive --- Specie --- Standard of value --- Exchange --- Finance --- Value --- Banks and banking --- Coinage --- Currency question --- Gold --- Silver --- Silver question --- Wealth --- Begrip en functies van het geld. --- Geldwezen: algemeenheden. --- Monetaire theorieën. Kwantitatieve theorie. Theorie van de incasso's. Optiek van de uitgaven en inkomens. --- Mathematical models --- Money. --- Money - Mathematical models. --- Mathematical models. --- 332.401 --- Geldwezen: algemeenheden --- Begrip en functies van het geld --- Monetaire theorieën. Kwantitatieve theorie. Theorie van de incasso's. Optiek van de uitgaven en inkomens

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"The approach of this text is to teach monetary economics using the classical paradigm of rational agents in a market setting. Too often monetary economics has been taught as a collection of facts about existing institutions for students to memorize. By teaching from first principles instead, the authors aim to instruct students not only in the monetary policies and institutions that exist today in the United States and Canada, but also in what policies and institutions may or should exist tomorrow and elsewhere. The text builds on a simple, clear monetary model and applies this framework consistently to a wide variety of monetary questions. The authors have added in this third edition new material on money as a means of replacing imperfect social record keeping, the role of currency in banking panics, and a description of the policies implemented to deal with the banking crises that began in 2007"-- "This textbook is designed to be used in an advanced undergraduate course in monetary economies, money and banking, international economies, or macroeconomies"--

Money --- Mathematical models --- Mathematical models. --- AA / International- internationaal --- 305.96 --- 330.3 --- 331.031 --- Macro-economisch model van een of verschillende landen. --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics. --- Louter monetaire theorieën i.v.m. conjunctuurschommelingen. --- Money. Monetary policy --- Operational research. Game theory --- Quantitative methods (economics) --- Macro-economisch model van een of verschillende landen --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics --- Louter monetaire theorieën i.v.m. conjunctuurschommelingen --- Money - Mathematical models

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Thoroughly updated and expanded with a new chapter on block chain and increased coverage of cryptocurrency, as well as new data, this established advanced undergraduate textbook approaches the subject via first principles. It builds on a simple, clear monetary model and applies this framework consistently to a variety of monetary questions. Starting with trade being mutually beneficial, the authors demonstrate that money makes people better off, and that government money competes against other means of payments, including other types of government payments. 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. From simple economies to modern economies, the authors address the role banks play in making more trade possible, concluding with the information problems plaguing modern banking.

Money - Mathematical models

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