Monetary Theory, 16/e

Monetary Theory, 16/e

Authors : M C Vaish

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About the Author

M C Vaish :-
Former Professor and Head of the Department of Economics, University of Rajasthan, Jaipur, has more than 40 years of teaching experience and has guided many research projects. A prolific writer, he has authored many books and published numerous papers in reputed journals and periodicals. Dr Vaish's two seminal books published by Vikas are Monetary Theory and The Essentials of Macroeconomic.

About the Book

Monetary Theory is a comprehensive textbook that meets the needs of students at the honours and post-graduate level. The sixteenth edition has been thoroughly revised and updated. The book is divided into five parts viz Money and Prices; Trade Cycle and Stabilisation; Saving, Investment and Interest; Banking, Credit and Foreign Exchange; and International Monetary Institutions. In Part One, Milton Friedman's Quantity Theory of Money has been updated. In Part Two, the chapter on Inflation has been improved by elaborating the topics on Inflation Targeting and Stagflation. Apart from this, a new chapter on Complex Multipliers has been incorporated in the book. Under Part Four, in Chapter 32 the topic on the purchasing power parity theory of foreign exchange rate determination has been updated. Similarly, all the chapters in Part Four and Part Five have been thoroughly revised. The post-economic reforms period portion of chapter 38 on the monetary policy in India has been updated till 2004-2005. Under Part Five all the six chapters including those on the IMF; International Liquidity; Eurocurrency Market; IBRD; IDA and the ADB have been revised and updated by incorporating the latest available academic literature. Throughout the book has been illustrated with the help of neatly drawn diagrams. The book covers the course contents of the monetary economics paper, it also substantially covers the course contents of the macroeconomic theory paper prescribed at the honours and postgraduate levels by the universities in India. The book will also be helpful to the students in the preparation for the competitive examinations at various levels.


Part One: Money and Prices: 1. Nature and Purpose of Economic Theory, 2. Nature and Functions of Money, 3. Money and The Economy, 4. Quantity Theory of Money, 5. Milton Friedman's Quantity Theory of Money, 6. Keynes' Theory of Money and Prices, 7. Monetary Standards, 8. Gold Standard, 9. Gold Standard in Practice, 10. Paper Money Standard, Part Two: Trade Cycle and Stabilisation: 11. Concept and Phases of Trade Cycle, 12. Theories of Trade Cycle, 13. Control of Trade Cycle, 14. Inflation, 15. Simple Investment Multiplier, 16. Complex Multipliers, 17. Acceleration, 18. Supply of Money, 19. Monetary Policy, 20. Fiscal Policy, 21. Keynesianism Versus Monetarism, Part Three: Saving, Investment and Interest: 22. Investment Demand Theory, 23. Saving Supply, 24. Demand for Money, 25. Theories of Interest, 26. The Natural Rate and Market Rate of Interest, 27. Term Structure of Interest Rates, Part Four: Banking, Credit and Foreign Exchange: 28. Evolution of Banking, 29. Credit Creation, 30. Control of Credit, 31. Central Bank, 32. Foreign Exchange Rate, 33. Balance of Payments, 34. Devaluation, 35. Exchange Control, 36. Money Market, 37. Indian Money Market, 38. Monetary Policy in India, Part Five: International Monetary Institutions: 39. International Monetary Fund (LMF), 40. International Liquidity, 41. Eurocurrency (Eurodollar) Market, 42. International Bank for Reconstruction and Development (IBRD), 43. International Development Association (IDA), 44. Asian Development Bank (ADB)