Reach every student with MyLab Economics with Pearson eText MyLab® empowers you to reach every student. This flexible digital platform combines unrivaled content, online assessments, and customizable features so you can personalize learning and improve results, one student at a time. Learn more about MyLab Economics. Pearson eText is an easy-to-use digital textbook available within MyLab that lets students read, highlight, and take notes all in one place. If you''re not using MyLab, students can purchase Pearson eText on their own or you can assign it as a course to schedule readings, view student usage analytics, and share your own notes with students. Learn more about Pearson eText. About the book A modern, brief discussion of the economics of the financial system and its links to the economy This text: Uses a brief, up-to-date approach that helps students better grasp the most essential and relevant concepts and theories. Stresses a lesson policymakers learned the hard way: What happens in the shadow banking system is as important to the economy as what happens in the commercial banking system.
Presents students with the underlying economic explanations of why the financial system is organized as it is and how the financial system is connected to the broader economy. Offers a framework that allows students to apply the theory that they learn in the classroom to the practice of the real world. This framework includes understanding, evaluating, and predicting; a modern approach; integration of international topics; and a focus on the Federal Reserve. Complete economics coverage shows students how economics is relevant to their lives NEW and UPDATED - Coverage of recent developments in policy and theory helps students understand the changes currently going on in the financial system and in the conduct of monetary policy, including: The effects of the Covid-19 pandemic on the financial system The Fed''s policy response to the pandemic The continuing debate over the Fed''s independence and its structure The issues raised by the Fed''s collaboration with the Treasury during the pandemic and the Fed''s expansion into lending to nonfinancial businesses The continuing evolution of the Fed''s policy tools The expanding role of the Fed in providing liquidity to foreign central banks The effects on the financial system of historically low interest rates The policy and regulatory implications of new developments in the shadow banking system The evolution of the US dollar''s role in the international financial system New developments in the US payment system and in digital banking NEW and UPDATED - Chapter-Opening Cases provide a real-world context for learning, spark students'' interest in money and banking, and help to unify the chapter. New cases examine the corona virus, financial markets, and the flow of funds (Chapter 1); why interest rates are so low (Chapter 4); how a pandemic shows the importance of banks (Chapter 10); and more. NEW - Two to four Apply the Concepts in each chapter present real-world reinforcement of key concepts and help students interpret what they see happening in the world around them. New boxes examine why the US payments system is so slow (Chapter 2); whether or not the stock market fluctuations during the Covid-19 pandemic disprove the efficient markets hypothesis (Chapter 6); moral hazard, adverse selection, and Covid-19 in the mortgage market (Chapter 9), and more. Student-focused features help enhance their understanding of key economic topics Key Issue and Related Key Question boxes in each chapter familiarizes students with how the financial system works in the context of topics they read about in the news.
NEW and UPDATED - Solved Problems show students how to solve an economic problem by breaking it down step by step. Additional exercises in the end-of-chapter Problems and Applications section are tied to every Solved Problem. UPDATED - Figures, graphs, and summary tables provide clear insights into economic issues, and have been updated so students are working with the latest data available. UPDATED - End-of-Chapter Real-Time Data Exercises help students become familiar with a key data source (FRED, the Federal Reserve Bank of St. Louis), learn how to locate data, and develop skills in interpreting data. NEW and UPDATED - End-of-Chapter Review Questions, Problems, and Applications help students apply what they''ve learned in the chapter, build skills to analyze and interpret information, and apply reasoning and logic to new or unfamiliar ideas and situations. Reach every student with MyLab Teach your course your way Homework and practice exercises in MyLab are correlated to the exercises in the text, reflecting each author''s approach and learning style. They regenerate algorithmically to give students unlimited opportunity for practice and mastery.
Every week, microeconomic and macroeconomic news stories and accompanying exercises are posted to MyLab. Assignable and auto-graded, these multi-part exercises ask students to recognize and apply economic concepts to current events. Deliver trusted content Animated Graphs in MyLab accompany many of the key graphs and figures in the text, andhave been updated with real-time data from the Federal Reserve''s Economic Data (FRED(tm)) -- a comprehensive, up-to-date data set maintained by the Federal Reserve Bank of St. Louis. These animated graphs helpstudents understand shifts in curves, movements along curves, and changes in equilibrium values. Easy to assign and automatically graded, Real-Time Data Analysis Exercises use up-to-the-minute, real-time macroeconomic data from the Federal Reserve Bank of St. Louis''s FRED site, to test students'' knowledge. Empower learners Digital Interactives are dynamic and engaging assessment activities that promote critical thinking and the application of key economic principles.
Many Digital Interactives also include real-time data from the Federal Reserve Bank of St. Louis''s FRED site, allowing professors and students to display up-to-the-minute data in key areas. Digital Interactives can be assigned and graded within MyLab or used as a lecture tool to encourage engagement and classroom conversation. Learning aids, such as Help Me Solve This, provide extra help for students at the point-of-use.