Skip to content
Open global navigation

Cambridge University Press

AcademicLocation selectorSearch toggleMain navigation toggle
Cart
Register Sign in Wishlist

Modeling Monetary Economies

3rd Edition

$51.00 (X)

textbook
  • Date Published: May 2011
  • availability: In stock
  • format: Paperback
  • isbn: 9780521177009

$51.00 (X)
Paperback

Add to cart Add to wishlist

Other available formats:
Hardback, eBook


Request examination copy

Instructors may request a copy of this title for examination

Description
Product filter button
Description
Contents
Resources
About the Authors
  • 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.

    • Unique: the first accessible book to approach monetary economics' first principles
    • Systematically adds new topics by extending the basic framework one direction at a time, letting students appreciate rigor without being overwhelmed by a new set of 'rules'
    • Updated: presents ideas on monetary policy pertinent to the financial crisis that began in 2007
    Read more

    Reviews & endorsements

    “Theory that encourages careful thinking. Applications that demonstrate relevance. All delivered in an easy yet rigorous manner. An essential text for any course in money and banking.” – David Andolfatto, Federal Reserve Bank of St. Louis

    “This is simply the best book on monetary theory with which I am familiar. I cannot emphasize strongly enough how this book belongs in the curriculum of advanced undergraduates. There is no acceptable alternative. Former students have told me that the best favor that they did for themselves, before going to graduate school in economics, was reading the earlier version of Champ and Freeman, cover to cover. In a better world, this would be the standard undergraduate macro text. The ideal course is based on Champ and Freeman, and on Russell W. Cooper, Coordination Games: Complementaries and Macroeconomics, Cambridge University Press, 1999. If you cannot do this for your intermediate students, do it for your advanced students.” – John Bryant, Rice University, and CentER, Tilburg University

    “This text is ingenious in the simplicity with which it is able to explain monetary phenomena while at the same time maintaining rigor. I taught out of earlier editions several times in undergraduate and MBA classes. With the addition of new topical material, the text can only be even better.” – Finn E. Kydland, 2004 Nobel Prize in Economics; University of California, Santa Barbara

    “I have taught both undergraduates and MBAs with both previous editions of this book and found them to be wonderful texts. Both my students and I appreciated the books’ clear presentations. They are clear because they are rigorous and avoid the ‘implicit theorizing’ that can mystify undergraduates and MBAs.” – Thomas Sargent, New York University

    “Champ, Freeman, and Haslag’s Modeling Monetary Economies is an excellent tool for teaching monetary economics to undergraduate students. The authors use a coherent and simple framework that can be addressed to a host of key issues in money, credit, and banking.” – Stephen Williamson, Washington University in St. Louis

    See more reviews

    Customer reviews

    Not yet reviewed

    Be the first to review

    Review was not posted due to profanity

    ×

    , create a review

    (If you're not , sign out)

    Please enter the right captcha value
    Please enter a star rating.
    Your review must be a minimum of 12 words.

    How do you rate this item?

    ×

    Product details

    • Edition: 3rd Edition
    • Date Published: May 2011
    • format: Paperback
    • isbn: 9780521177009
    • length: 358 pages
    • dimensions: 254 x 178 x 20 mm
    • weight: 0.65kg
    • contains: 78 b/w illus. 25 tables
    • availability: In stock
  • Table of Contents

    Preface
    Part I. Money:
    1. A simple model of money
    2. Barter and commodity money
    3. Inflation
    4. International monetary systems
    5. Price surprises
    Part II. Banking:
    6. Capital
    7. Liquidity and financial intermediation
    8. Central banking and the money supply
    9. Money stock fluctuations
    10. Fully backed central bank money
    11. The payments system
    12. Bank risk
    13. Liquidity risk and bank panics
    Part III. Government Debt:
    14. Deficits and the national debt
    15. Savings and investment
    16. The effect of the national debt on capital and savings
    17. The temptation of inflation.

  • general resources

    View all resources
    Group Section Name Type Size Sort Order filter vars
    General ResourcesInstructor's Manualpdf3430KB0 general resources general resources general resourcesgeneral resources

    This title has a locked file and access is given only to instructors adopting the textbook for their class. We need to strictly enforce this so that solutions are not made available to students. To gain access to locked resources you need to first log in with your Cambridge account details and then return to this page to submit details of your course so you can be authenticated as an instructor. Click here to log in. If you do not have a Cambridge account you will first need to click here to create an account and then return to this page to be authenticated.


    These resources are provided free of charge by Cambridge University Press with permission of the author of the corresponding work, but are subject to copyright. You are permitted to view, print and download these resources for your own personal use only, provided any copyright lines on the resources are not removed or altered in any way. Any other use, including but not limited to distribution of the resources in modified form, or via electronic or other media, is strictly prohibited unless you have permission from the author of the corresponding work and provided you give appropriate acknowledgement of the source.

    If you are having problems accessing these resources please email cflack@cambridge.org

  • Authors

    Bruce Champ, Federal Reserve Bank of Cleveland
    Bruce Champ is Senior Research Economist at the Federal Reserve Bank of Cleveland. Earlier he taught at Virginia Polytechnic Institute, the Universities of Iowa and Western Ontario, and Fordham University. Dr Champ's research interests focus on monetary economics and his articles have appeared in the American Economic Review, the Journal of Monetary Economics, the Canadian Journal of Economics and the Journal of Money, Credit, and Banking, among other leading academic publications. He coauthored the first and second editions of Modeling Monetary Economies with the late Scott Freeman.

    Scott Freeman
    Scott Freeman was a Professor of Economics at the University of Texas, Austin. He taught earlier at Boston College and the University of California, Santa Barbara. Professor Freeman died in 2004 after struggling with amyotrophic lateral sclerosis for several years. Professor Freeman specialized in monetary theory, and his articles appeared in the Journal of Political Economy, the American Economic Review, the Journal of Monetary Economics and the Journal of Money, Credit, and Banking, among other eminent academic journals.

    Joseph Haslag, University of Missouri, Columbia
    Joseph Haslag is Professor and Kenneth Lay Chair in Economics at the University of Missouri, Columbia. He previously worked as an economist at the Federal Reserve Bank of Dallas. He also taught at the Southern Methodist University and at Michigan State University. Professor Haslag has focused on monetary economics, and his articles have appeared in the Review of Economics and Statistics, the Journal of Monetary Economics, the Review of Economic Dynamics and the International Economic Review, among other leading academic journals.

Sign In

Please sign in to access your account

Cancel

Not already registered? Create an account now. ×

You are now leaving the Cambridge University Press website, your eBook purchase and download will be completed by our partner www.ebooks.com. Please see the permission section of the www.ebooks.com catalogue page for details of the print & copy limits on our eBooks.

Continue ×

Continue ×

Find content that relates to you

Join us online

© Cambridge University Press 2014

Back to top

Are you sure you want to delete your account?

This cannot be undone.

Cancel Delete

Thank you for your feedback which will help us improve our service.

If you requested a response, we will make sure to get back to you shortly.

×
Please fill in the required fields in your feedback submission.
×