An Introduction to Financial Markets and Institutions

This text contains the strengths of the authors' money and banking text: they bring in a historical and evolutionary perspective, provide a global emphasis where appropriate, and cover all the topics common to traditional markets and institutions texts. In addition, they emphasize a flow-of-funds perspective and the text ends with a section on monetary policy.The text provides balanced coverage of the theories, policies, and institutions in a conversational style, avoiding complex models and high level mathematics, making it a student-friendly text with many unique features that offer additional explanation of concepts, analyses, and historical background. The text emphasizes how structural change, globalization, innovation, and technology affect the financial environment, with attention to how and why institutions and markets evolve.

Maureen Burton received a BA from the University of Missouri at Columbia in 1971, an MA from California State University, Fullerton, in 1979, and a Ph.D.from the University of California at Riverside in 1986. All were in economics. She taught at Chaffey College from 1984 to 1987 and at Cal Poly Pomona since 1987 where she is a full professor, has been Coordinator of the Graduate Program, and is currently chair of the Economics Department. In addition to other publications, she co-authored an introductory text Economics (Harper Collins, 1987) with S. Craig Justice. Her main areas of research include monetary theory and financial markets.