Money and Capital Markets: Financial Institutions and Instruments in a Global Marketplace
$22.32
| Author(s) | , |
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| Format |
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| Pages |
839 |
| Published Date |
2008 |
Money and Capital Markets provides a thorough and comprehensive view of the whole financial system. All the major types of financial institutions and financial instruments present today are discussed, along with how and why the system of money and capital markets is changing. Money and Capital Markets also provides a descriptive explanation of how interest rates and security values are determined. It discusses the current and future trends of the globalization of financial markets, the ongoing consolidation of the financial institutions’ sector, and recent efforts to protect consumer privacy in the financial services field.
Introduction:
The money and capital markets and the financial system that surrounds them are an exciting and important area for study. What goes on every day in the financial mar-ketplace has a powerful effect on our lives. Indeed, our ability to function as human beings and as professionals in our chosen fields is shaped in so many different ways by the functioning of the global financial system. Moreover, the money and capital markets are constantly changing. Broad changes are constantly in motion, leading to the rise of new financial institutions, new financial methods, new problems to solve, and new financial services.
The rapidity of change that characterizes our financial system today gives us no choice but to work vigilantly to keep up with our unfolding financial world. Reading this book will get you started, but it cannot be the end of the road. A great American poet, Robert Frost, once declared that we “cannot stop here” for we have “promises to keep” and “miles to go before we sleep.” For the sake of your own future success, per-sonally and professionally, plan to enjoy what you discover in the pages that follow, but view this book as only the first step in what must be a lifetime journey of learning about the financial system and its effects on our everyday existence.
As you tackle each new chapter and section of Money and Capital Markets: Financial Institutions and Instruments in a Global Marketplace set your sights on true mastery of the subject. Make the most of the time you spend with this text. Plan for success and hit your target with determination and well-organized study techniques. How can you do this? How can you learn what you need to know in today’s complex financial world?
Contents:
- The Global Financial System in Perspective
- Interest Rates and the Prices of Financial Assets
- The Money Market and Central Banking
- Financial Institutions: Organization, Activities, and Regulation
- Governments and Businesses in the Financial Markets
- Consumers in the Financial Markets
- The International Financial System
Money and Capital Markets: Financial Institutions and Instruments in a Global Marketplace By Peter S. Rose, Milton Marquis pdf
2 reviews for Money and Capital Markets: Financial Institutions and Instruments in a Global Marketplace
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Bishop Ortega (verified owner) –
I was very happy with the quality of the product and the fast service. The only thing I was disappointed in was the description did not specify the edition # of the book and what I received was one edition back from what I needed. More information in the description would be very helpful.
Lilah Buckley (verified owner) –
Wow, I’m dating myself here. But I loved the finance course & book back in 1984. Still have the 1983 1st edition book in my libary, which when I saw it, and all the financial meltdown problems we’ve been experiencing of late, prompted me to punch the title into Google and see its status. So, the eyes bugged out a bit to learn it was still chugging along to a 10th edition some 28 yrs later. What will be interesting will be the 11th edition, post 2008 economic MELTDOWN of the financial markets. We all got “PhD’s” after that and HOPEFULLY that education can be incorporated in new finance text books with a huge refreshed rewrite. But Peter S. Rose, originally written from Texas A&M, has got to be getting up there in his years! He’s got help and a co-author now, so that keeps editions & brand humming I’m guessing. The two should add a political economist to the author mix… for the following reasons:
It’s a bit difficult to give a review some 27 or 28 yrs after the read, but let me give you a heads up.
To future students of the course, pay attention to the later chapters, The Balance of Payments and International (trade) Transactions. A bit of history context: Nixon & Milton Freidman defaulted on our obligations under the 1944 Bretton Woods Agreement to prudently balance our books with the rest of the world in 1971. Went off the gold standard too, as part of that default. We HAD BEEN a balanced or surplus trading nation up until then (and a decade afterwards more or less for the NET 10 year accumulated period), which EARNED our nation its prosperity. Google: Current Account historical tables.
But in 1982, at the kickoff to the Reagan Revolution, along with fiscal budget deficits exploding starting then too, (the national debt after 205 yrs as a nation in 1981 was just $1.0 Trillion; today it is $14.5 Trillion, plus the $5.5 Trillion in Net Interest 30 yr carrying costs paid out) the Reagan administration kicked off 29 straight years and counting, an accumulation of $8 TRILLION in aggregated Current Account trade deficits, representing borrowed prosperity on an epic scale. 30 yr Twin Deficits + net interest carrying costs = $28 TRILLION in a mere 30 years. If that isn’t mortgaging the future, the term has no meaning.
What has resulted is a flight of factories and millions of jobs fleeing overseas to compete for America’s 30 year growing addiction to (temporarily) cheap imported goods… and a hollowed-out American economy. We screwed-up America for you big time. The mantra has been FREE TRADE, not Fair Trade. The gulf between our last place surplus/deficit trade status at 180th place, of measurable nations, and 179th place is a mindblowing hundreds of billions annually). Yet #2 Japan & #3 Germany maintain HEALTHY trading surplus status, earning their prosperity. Google: Merchantilism.
Borrowed propsperity: cheap imported goods taking the place of good paying American jobs and standard of living affluence for rank & file Americans. This would be an interesting subject to write a term paper on, but the chapters are near the tail end of the book… and semesters. Consult your professor.
Watching a National Geographic series on “America’s Port” re life at the Port of Los Angeles, a crane operator made a wry observation deloading all these full containers from China & asia, and putting EMPTIES back on the boats: “Air, it’s America’s greatest export”. Sad. And is migrant picked agricultural produce, exported abroad, a worthy national exchange for high value-added goods from asia??? Ask your Econ professors that question! And much of migrant earnings get “remitted” back to their families in Mexico to boot. Interesting dynamic.
We didn’t have the internet for the masses back then. Nor Google. A huge leg up on previous generations in terms of digging into topics. Dating myself indeed. 😉
For those interested in the real economic power, the Federal Reserve, a GREAT book on that topic for ALL finance majors’ library, is “Secrets of the Temple: How the Federal Reserve Runs the Country” by William Greider. Ask the Econ professor how healthy is it for a nation to witness the vast, unproductive expansion of our financial sector; oblivious to the grave dangers of flooding the financial markets with freely printed money while removing traditional restrictions on leverage and speculation, as Reagan’s ex OMB Director, David Stockman has warned in his “Four Deformations of the Apocalypse” NY Times op-ed. As such, assets grew 60x from $500 Billion in 1970, to some $30 Trillion by 2008. 2008 Implosion indeed from all the pointless, unproductive leveraged speculation.
There is much to learn… it never stops. Hope you can reverse America’s decline into red ink deficits and its hollowed-out economy. Great subject, good book.