Applied Economics in Banking and Finance Book

This is a substantially revised new edition of an introductory text for university and polytechnic students seeking a clear and comprehensive account of the UK and foreign financial systems, particularly for those taking professional examinations such as those set by the Institute of Bankers, CIPFA and BSI, and the HNC courses validated by BEC. To take account of events since the appearance of the third edition in 1984, this edition includes more on non-money assets, the sectoral ownership of financial wealth (including the rise of the private investor) and the effects of technological change and innovation. New material on the development of the financial markets since the "Big Bang" covers the increased variety of financial instruments, and the implications of deregulation. The overview of macroeconomic policy in the UK has been extended to treat the changing structure of the Medium Term Financial Strategy, with an assessment of the MTFS over 1980-87, the monetary-fiscal mix and the role and use of targets, indicators and objectives. The expanded section on the international financial system now includes material on international monetarism, and the broader effects of the trend towards deregulation.Read More