The Economics of Money, Banking and Financial Markets is an incredibly useful resource for understanding more about monetary policy, payment gateway services, and modern commerce. It deals with current and up to date concerns, such as inflation targeting, and it expands on the Taylor principle in depth. It also discusses sterilized currency, and looks at the zero lower bound.
A lot more than just supply and demand, the book expands on what drives demand, how it helps or hurts economic policy, and provides a strong understanding of the systems at play.
ishkin seems to agree with Bernanke’s policies on inflation targeting. This book looks at quantitative easing and bond investment with a similar eye, which some may or may not find helpful or useful. Personally, it’s a good idea to have many viewpoints come into the discussion. You can also find additional information online, usually for free, as an appendix to a particular chapter. This provides even more information from the resource, and is generally recommended by those studying this text in business school. (You’ll be glad you read through them when test time arrives).
Of course, it would be remiss to ignore the few grammatical errors and typos present in the book. Sometimes, two statements appeared at odds with one another too. This was somewhat confusing, but nothing too jarring. Still, errors every 50-70 pages can be irritating for the detail oriented reader.
Whether as a supplement to macroeconomic studies, or a primary text for students, this book offers a firm grasp of financial markets. It also looks at modern issues, such as credit card processing, and offers a critical outlook.