Monetary Economics -(TEXT BOOK)- By M.L. Seth

Description

Monetary Economics – , By – Dr. M.L. Seth, ISBN Code – 978-93-86544-43-8

M.A and M.Com. The courses of study prescribed by the Public Service Commission for the state and Central Services have also been borne in mind while writing the present volume. An attempt has been made to meet the requirements of candidates appearing for professional examination like Chartered Accountancy and Indian Institute of Bankers. The author feels that the present volume, as it stands now, leaves out nothing of importance which may be expected of graduate or post-graduate students in Monetary Economics.

In the present edition each chapter has been thoroughly revised and updated. Fresh material has been added in certain chapters. A number of new topics have been added as separate sections in different chapters. These included Factors Determining Money Supply in India. Instruments of Monetary Policy, The Operating Procedure of Monetary Policy in India, Friendman’s Theory of Business Cycle, Kaldor’s Model of Business Cycle, The Equilibrium Level of Employment and Income Saving Function Derived from Consumptions Function Normal Income Hypothesis, Drift Hypothesis, Relationship between Saving and Investment Tobin’s Q Theory of Investment, The Paradox of Thrift, Operation of the Acceleration Principle, etc. Latest available information on Reserve Bank of India’s monetary policy and Indian banking system has been given in the related chapters. The chapter on Indian Money Market incorporates reforms introduced in recent years. Basel Norms, Monetary Policy and Credit Policy-2018 World Economic forum, Digital Currency Bit coin, Union Budget-2018-19.

With all the new additions and improvements, the present edition of the book is more comprehensive and up-to-date. It is hoped that this volume will have more utility to the students preparing for various examinations.

CONTENTS :

Chapters

PART I

THEORY OF MONEY

1      Meaning and Functions of Money

2. Significance of Money
3. Classification of Money
4. Monetary Standards
5. Value of Money and its Measurement
6. The Supply of Money
7. The Demand For Money
8. The Quantity Theory of Money
9. The Income Theory of Money Or [The Saving-Investment Theory of Money]
10. Liquidity Theory of Money
11. The Real-Balance Effect
12. Inflation and Deflation
13. Inflation and Unemployment– Phillips Curve

PART II

THEORY OF BANKING

14. Commercial Banking
15. Banking Operations—Liabilities and Assets
16. Central Banking
17. Objectives and Methods of Credit Control
18. Financial Markets– Money Market and Capital Market

PART III

MONETARY AND FISCAL POLICIES

19. Monetary Policy
20. General Equilibrium : The Interaction of IS and LM Functions
21. Fiscal Policy
22. Keynesianism and Monetarism

PART IV

THEORY OF BUSINESS CYCLES

23. Business Cycles.

PART V

THEORY OF INCOME AND EMPLOYMENT

24. The Classical theory of Employment
25. Keynesian Theory of Employment–An Epitome
26. The Consumption Function
27. The Investment Function
28. Multiplier, Accelerator and their Interaction
29. Theories of Interest

PART VI

INTERNATIONAL MONETARY TRANSACTIONS

30. Balance of Payments
31. The Foreign Exchange
32. Exchange Control
33. The International Monetary Fund
34. World Bank and other Financial Institutions

PART VII

INDIAN BANKING SYSTEM

35. The Reserve Bank of India
36. Commercial Banking in India
37. Indian Money Market

Selected Bibliography