Theory of Money

Exploring the function of money as a medium of exchange and a store of value, this major work provides a comprehensive introduction to the pure theory of money and moetary policy.

Jürg Niehans considers his subject in both its microeconomic and macroeconomic aspects. The analysis thus extends from the individual demand for money to monetary policy and the art of central banking. Each chapted opens with a brief, nontechnical summary of its contents; expository material and up-to-date references to the literature are integrated in the discussion. While mathematics is used extensively, the required tools do not go beyond the elements of multivariate calculus and nonlinear programming, this making the book appropriate as an introductory text for graduate and advanced undergraduate studies in economics.