Money and Banking, Second Edition: An Intermediate Market-Based Approach - Paperback

by William D. Gerdes (Author)

Let's learn about money! Money is a market phenomenon. It originated as a spontaneous social institution, and its use is still inextricably tied to market exchange. Therefore, the analysis of money occurs in a market setting. Use of monetary systems and a market setting as the underlying parameters ideally positions the reader to examine money in its various uses: as a medium of exchange, in credit markets, and as an instrument of monetary policy. Professor Gerdes believes that the study of money should commence at the most general level. Consequently, this book is anchored in the context of monetary systems (commodity, fiduciary, and fiat monies). This gives readers a very broad perspective-helping readers understand, for example, how the money used today differs from money used in the past, or how current money relates to money discovered by anthropologists in isolated subcultures. This book is perfect for courses in traditional money and banking courses, as well as undergraduate courses in monetary theory as well as sourcebook on money for business professionals.

Author Biography

William D. Gerdes, Clarke University, has a PhD in economics and has lectured for more than 40 years. He is the past president of the Missouri Valley Economic Association, and was the recipient of Fulbright Fellowships for teaching and research at the University of Dar es Salaam (Tanzania) and the University of Malawi. His two years in Africa served as an inspiration to analyze money from a more global perspective.