“An excellent text for undergraduate courses in money and banking.” (*) The updated new edition of this classic text is designed for an undergraduate one semester or quarter course in money and banking. Written in an informal, engaging style, with minimal math requirements, it offers an up-to-date, progressive look at how the financial system has been transformed in recent years by technology, innovation, deregulation, competition, globalization, and financial crises. The book incorporates numerous current, real-world examples—including the sub-prime lending crisis, the Fed's response, and the Obama administration's programs—to help explain various aspects of money and its role in the economy, including financial prices, financial institutions, financial markets, monetary theory, and monetary policy. The text gives students an understanding of the dynamic and evolving nature of the financial system and how it relates to the aggregate economy. It is perfect for students who may or may not have a strong economics background. Online instructor's materials are available for adopters. Endorsements:

"An excellent text for undergraduate courses in money and banking, and would also be suitable for related courses such as 'financial institutions and markets.' The text presents the standard material covered in such courses, but is also rich in institutional and historical material, which I see as its distinguishing characteristic. The chapters on financial innovation and the interactions between profit seeking, innovation, regulation and financial instability are particularly well done." — Christopher J. Niggle, University of Redlands (*)

"[This text] fills an important market niche. It is less theoretical than other leading Money and Banking textbooks but still presents the most relevant material in an accessible manner. Topics are well connected so that students can see the overall picture, and the boxed features relate to the body of the text in a very clear and instructive way. Anyone looking for a current, serious, and complete explanation of money, banking, and financial markets should take a close look at this book." — Edward McDevitt, Department of Economics, UCLA