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PART I. FOUNDATIONS1. Introducing Money and the Financial System 2. Money and the Payments System 3. Interest Rates and Rates of Return 4. Determining Interest Rates PART II. FINANCIAL MARKETS5. The Risk Structure and Term Structure of Interest Rates 6. The Stock Market, Information, and Financial Market Efficiency 7. Derivatives and Derivative Markets 8. The Market for Foreign Exchange PART III. FINANCIAL INSTITUTIONS9. Transactions Costs, Asymmetric Information, and the Structure of the Financial System 10. The Economics of Banking 11. Investment Banks, Mutual Funds, Hedge Funds, and the Shadow Banking System 12. Financial Crises and Financial Regulation PART IV. MONETARY POLICY13. The Federal Reserve and Central Banking 14. The Federal Reserve's Balance Sheet and the Money Supply Process 15. Monetary Policy 16. The International Financial System and Monetary Policy PART V. THE FINANCIAL SYSTEM AND THE MACROECONOMY17. Monetary Theory I: The Aggregate Demand and Aggregate Supply Model 18. Monetary Theory II: The IS-MP Model