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Published
September 2026
Page Count
480
ISBN (Digital)
979-8-90191-065-8

Money, Banking, and Financial Institutions: A Contemporary Approach New: AI-powered guidance within our eReader New: Textbook audio in 32 languages and dialects (upon request) New: Podcasts Available

Version 2.0
By Robert Carbaugh

Included Supplements

Key Features

  • Over 40 embedded hyperlinks to videos and webpages enrich hybrid and online courses, engage students, and reinforce or augment many of the presented topics
  • Employs concrete, real-life examples that appeal to students with limited preparation in economics
  • Career spotlights on a diverse array of figures in the banking and financial industries, such as Brian Moynihan (Section 1.5), Adena Friedman (Section 2.7), Susan Collins (Section 4.2), Condoleezza Rice (Section 5.3), Thasunda Brown Duckett (Section 6.1), Jamie Dimon (Section 9.6), Kevin Warsh (Section 12.3), and Mary Daly (Section 13.2) 
  • Global perspective weaves international topics throughout the narrative in meaningful ways and with two full global chapters (Chapter 15 “Foreign Exchange Market and International Banking” and Chapter 16 “Exchange Rate Systems”)
  • Supportive learning features for each chapter
    • “Learning Objectives” at the beginning of each main section preview the material to come and prepare students to learn
    • “Key Terms” highlight vital terminology and concisely define key concepts
    • “Key Takeaways” at the end of each main section reflect the corresponding Learning Objectives and summarize key ideas in bullet-point fashion. “Key Takeaways” enable learners to pause and consolidate the information just encountered into a “chunk.” This process enables the reader to better understand and retain the section’s content and its key concepts
    • “Career Profiles” in each chapter highlight a key banking figure, including the leader’s pertinent background and career progression
    • “Chapter Summary” distill key chapter information to reinforce study skills
    • “Study Questions” provide opportunities to apply information just learned to test knowledge and support information retention
  • TIFs, IMs, PPTs, Quizzes, and Sample Syllabi are written by the author to ensure accuracy and alignment with the book. Answer guidelines for “Study Questions” are included in the instructor’s manual
  • Fully Customizable

Students

Online Access Price
$37.95
Color Printed Textbook with Online Access Price
$64.95
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Money, Banking, and Financial Institutions: A Contemporary Approach is intended for courses called Money and Banking or similar titles taught primarily in the economics department at the undergraduate or MBA level at two-and four-year colleges and universities.


Money, Banking, and Financial Institutions: A Contemporary Approach offers a streamlined introduction to financial markets, requiring only a basic understanding of economics. By stripping away jargon and unnecessary details, the text maintains a readable, engaging narrative. Its consistent formatting ensures key concepts are easy to identify, helping students build a more structured memory of the material.


Instead of rehashing theory, Carbaugh targets real-world banking mechanics, equipping students with a practical understanding of how the system actually works.

New in This Version

  • Chapter 1 “The Financial System”: Trump’s Liberation Day Tariffs and Stock Market Volatility; Standard & Poor’s 500 Index; Russell 3000 Index
  • Chapter 2 “The Financial System”: AI and Commercial Banking; New Career Profile on Adena Friedman, Chair and Chief Executive Officer, Nasdaq
  • Chapter 3 “Understanding Money”: What Does “Legal Tender” Mean?; The Genius Act and Stablecoin; U.S. Mint Stops Making Pennies; Money Laundering
  • Chapter 4 “Understanding Interest Rates”: What Is a Personal Loan?; New Career Profile on Susan Collins, President of the Federal Reserve Bank of Boston; The Rise and Fall of the London Interbank Offer Rate (LIBOR)
  • Chapter 5 “Interest Rate Determination”: The Student Loan Market
  • Chapter 9 “The Business of Commercial Banking”: Technology and Banking; Earnings of Bank Chief Executive Officers (CEOs); new sections on the liabilities of a bank, specifically savings accounts and money market accounts
  • Chapter 10 “The Commercial Banking Industry”: Wells Fargo Pays Record Penalty; Online-Only Versus Brick-and-Mortar Banks; Do You Want to Be an Investment Banker?
  • Chapter 11 “Deposit Insurance”: Is the FDIC the Only Insurer of Bank Deposits in the United States?
  • Chapter 12 “The Federal Reserve System”: Would a Loss of Federal Reserve Independence Entail Global Risks?; Updates to the section “Can the Federal Reserve Maintain Its Independence?”; Structure and Independence of Foreign Central Banks; Updated salaries of Federal Reserve Bank presidents; New callout: Can the President Fire the Federal Reserve’s Chair or Members of the Board of Governors?
  • Chapter 13 “The Monetary Base and Money Creation”: The Required Reserve Ratio of the Federal Reserve
  • Chapter 14 “Monetary Policy”: Updating content on quantitative easing and quantitative tightening; New section on negative interest rates and Japan
  • Chapter 16 “Exchange Rate Systems”: Assisting the Developing Countries: The World Bank and the International Monetary Fund

In Progress

  • All instructor supplements will be available by October 28, 2026.
  • Homework system for this title will be live by October 28, 2026.

At FlatWorld, we take pride in providing a range of high-quality supplements alongside our titles, to help instructors teach effectively. Supplements are available for instructors who have registered their adoption with us. If you need to review or preview something specific, please contact us.

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Robert Carbaugh

Central Washington University

Robert J. Carbaugh (PhD Colorado State University) is Professor of Economics Emeritus at Central Washington University. He has been honored with numerous top teaching awards, including the Excellence in Teaching award at the University of Wisconsin–Eau Claire and the Distinguished Professor of the University Teaching Award at Central Washington University. Bob has also been named Scholar-of-the-Year by the Phi Kappa Phi Honorary Society at Central Washington University. For more than forty years, Bob has taught money and banking, international economics, managerial economics, and both introductory and intermediate levels of microeconomics and macroeconomics. He is the author of numerous articles and textbooks including a market-leading textbook on international economics now in its eighteenth edition.

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