Publisher's Synopsis
The fifth edition of The Financial System and the Economy is 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 it 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.
