About the Book: Monetary Economics: Comprehensive Study of Money and Banking
Monetary economics is a branch of economics that provides a framework for
analysing money in its functions as a medium of exchange, store of value, and
unit of account. It considers fiat currency can gain acceptance purely because
of its convenience as a public good. Monetary economics formally emerged as a
field of study in the 1950s through the concept of monetarism as described by
economist Milton Friedman. Monetarism postulates that government regulation of a
nations money supply can ensure economic stability by keeping prices and
inflation under control. In this way, monetary economics is